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New Home Sales, KBH Earnings Ahead
Tom White
September 24, 2025
U.S. stock futures are slightly higher in premarket trading after falling on Tuesday from record highs. The S&P 500 (SPX) and Dow Index ($DJI) hit intraday highs yesterday before falling in the afternoon after comments from Fed Chair Powell.
Powell furthered valuation concerns Tuesday, noting “equity prices are fairly highly valued.” Powell also signaled that the rate-cutting path wasn’t clear and that it was a “challenging situation.”
A slide in Nvidia (NVDA) also weighed on markets despite the $100B investment in OpenAI.
Morning Movers
Snapshot (as of 7 AM ET)
Oil (/CL) – Oil Futures are up 1% around $64 a barrel as an industry report showed U.S. crude inventories declined last week, adding to a sense in the market of tightening supplies.
Gold (/GC) – Gold prices are down 0.4% near $3800, just below its record high scaled in the last session. The pull back comes despite growing expectations of further interest rate cuts in the U.S. and heightened geopolitical uncertainty have boosted demand for the safe-haven metal recently.
Bitcoin (/BTC) – The Crypto Future is up 1.2% near 113,000 in premarket trading.
VIX – The CBOE Volatility Index was up 3.3% on Tuesday and settled at 16.64 as stocks fell throughout the session.
U.S. Dollar (/DX) – The dollar is up 0.5% to 97.4.
Biggest Premarket Movers
Symbol | Product | Mark % Change (as of 7 AM ET) |
|---|---|---|
ALB | Albemarle | +4.23% |
GM | General Motors | +2.17% |
PWR | Quanta Services | +2.05% |
ADBE | Adobe | -0.99% |
MU | Micron | -0.64% |
BXP | BXP Inc. REIT | -0.62% |
Economic Data
Time | Event |
|---|---|
7:00AM ET | MBA Mortgage Applications |
10:00AM ET | New Home Sales |
10:30AM ET | Oil Inventories |
1:00PM ET | 5-Year Note Auction |
4:10PM ET | Fed’s Daly Speaks |
Notable Earnings
Premarket | Postmarket | Premarket Tomorrow | Postmarket Tomorrow |
|---|---|---|---|
CTAS, THO, UEC | FUL, KBH, SCS, SFIX, WS | ACN, BB, KMX, JBL, SNX | CNXC, COST |
Upgrades/Downgrades
Wells Fargo upgrades Amazon (AMZN) to Overweight from Equal Weight
KGI Securities upgrades Micron (MU) to Outperform from Neutral
Morgan Stanley upgrades ServiceNow (NOW) to Overweight from Equal Weight
Morgan Stanley downgrades Adobe (ADBE) to Equal Weight from Overweight
DZ Bank downgrades CrowdStrike (CRWD) to Sell from Hold
Barclays downgrades Keurig Dr. Pepper (KDP) to Equal Weight from Overweight
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