U.S. stock futures are slightly higher in premarket trading after the Nasdaq-100 (NDX) settled at a record high and the benchmark S&P 500 (SPX) closed Friday fractionally off an all-time record high.

Tech will be in focus today after Apple (AAPL) rallied over 13% last week and after a Financial Times report said Nvidia (NVDA) and AMD agreed to give part of their revenue from certain chips sold in China. Nvidia and AMD are slightly lower ahead of the opening bell after the report stated they have agreed to pay 15% of their revenue from chip sales to China to the U.S. government.

With no economic data due, investors will continue to focus on tariff news ahead of inflation data due on Tuesday with the release of the Consumer Price Index (CPI).

• Oil (/CL) – Oil prices are up 0.5% above $64 a barrel at the start of the week and are hovering near the lowest level in over two months. Markets are hoping that the planned meeting between Trump and Putin will help to pave the way for a peace deal for Ukraine. If sanctions against Russia are lifted, it could further boost supply at a time when OPEC+ producers are also restoring output at a fast pace. Concern that trade tensions will weigh on global demand have added to pressure on oil prices.

• Gold (/GC) – Gold prices are down 2.5% near $3410 as market participants focused on U.S.-Russia talks on the war in Ukraine, and July inflation data that could offer more insight into the Federal Reserve’s interest rate outlook.

• Bitcoin (/BTC) – The Crypto Future is up 3.5% near $121,000 in the premarket. Bitcoin is in rally mode just below all-time highs after President Donald Trump signed an Executive Order to allow 401(k) investors to access alternative assets for "better returns and diversification," the White House announced – this includes Crypto.

• VIX – The CBOE Volatility Index was down 8.5% on Friday and settled at 15.15 despite stocks settling mostly lower.

• U.S. Dollar (/DX) – The dollar is up 0.2% to 98.2.

• Phillip Securities upgrades Airbnb (ABNB) to Neutral from Reduce

• Ladenburg upgrades SoundHound (SOUN) to Buy from Neutral

• Morgan Stanley upgrades Freeport-McMoRan (FCX) to Overweight from Equal Weight

• Melius Research downgrades Adobe (ADBE) to Sell from Hold

• DA Davidson downgrades C3.AI (AI) to Underperform from Neutral

• Jefferies downgrades The Trade Desk (TTD) to Hold from Buy

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