U.S. stock futures are slightly lower ahead of the opening bell after the S&P 500 and Dow Industrials extended their win streak to six sessions on Tuesday. It’s been a volatile April for markets but the S&P 500 is only down 1% this month. Commerce Secretary Howard Lutnick stated yesterday that the U.S. has a deal done with another country but did not specify which one, which supported stocks yesterday. Investor focus will be on earnings fallout today along with plenty of economic data, including the first read on 1Q GDP and ADP employment numbers.

• Oil (/CL) – Oil prices broke below $60/barrel as uncertainty over U.S. trade talks continue to weigh on the demand outlook. Speculation that OPEC+ members will accelerate the planned production increase again is keeping the supply outlook underpinned and on top of that API data showed a stronger than expected rise in U.S. crude inventories last week. API reports that crude inventories rose 3.8M barrels last week. Gasoline inventories fell 3.1M barrels.

• Gold (/GC) – Gold prices are down nearly 1.5% near $3290, pressured by a firmer dollar and a de-escalation in trade tensions between the United States and its trading partners, while investors awaited key U.S. data for cues on the Federal Reserve’s rate outlook.

• Bitcoin (/BTC) – The crypto future is basically flat around $95.9K.

• VIX – The CBOE Volatility Index has The CBOE Volatility Index was down 3.9% on Tuesday and settled at 24.17 as stocks rallied. It was the lowest closing price for the VIX since April 2nd. It is slightly elevated this morning back towards 25.

• U.S. Dollar (/DX) – The dollar is flat around 99.1.

• Barclays upgrades NetApp (NTAP) to Overweight from Equal Weight

• DA Davidson upgrades Airbnb (ABNB) to Buy from Neutral

• Wolfe Research upgrades Ford Motor (F) to Peer Perform from Underperform

• Goldman Sachs downgrades Starbucks (SBUX) to Neutral from Buy

• KeyBanc downgrades First Solar (FSLR) to Underweight from Sector Weight

• Wells Fargo downgrades Nike (NKE) to Equal Weight from Overweight

Tune in live from 8 a.m. to 5 p.m. ET, or anytime, anywhere, on‑demand.

Or stream it via thinkorswim® and thinkorswim Mobile, available through our broker-dealer affiliate, Charles Schwab & Co., Inc

Please do not reply to this email. Replies are not delivered to Schwab Network. For inquiries or comments, please email [email protected].

See how your information is protected with our privacy statement.  

This material is intended for informational purposes only and should not be considered a personalized recommendation or investment advice. Investors should review investment strategies for their own particular situations before making any decisions.

Schwab Network is brought to you by Charles Schwab Media Productions Company (“CSMPC”). CSMPC is a subsidiary of The Charles Schwab Corporation and is not a financial advisor, registered investment advisor, broker-dealer, or futures commission merchant.

Charles Schwab Media Productions Company and all third parties mentioned are separate and unaffiliated, and are not responsible for one another's policies, services or opinions.

Data contained herein is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. All events and times listed are subject to change without notice.