Stocks Move Higher Despite Volatility

U.S. stock futures are modestly higher in premarket trading as investors turn their attention towards big-name earnings reports and inflation data expected in the coming days.

Stocks are coming off a volatile trading week but closed higher despite flaring tensions between the U.S. and China, a sell-off sparked by regional bank losses and declines in a few high-flying artificial intelligence names.

Stocks were higher on Friday after Trump appeared optimistic on a potential trade deal with China ahead of his meeting with Chinese President Xi Jinping later this month in South Korea.

Morning Movers

Snapshot (as of 7 AM ET)

  • Oil (/CL) – Oil futures are down nearly 1% near $56.70 a barrel and continue to hover near 5-month lows hit on Friday.

  • Gold (/GC) Gold futures are up over 1.5% at $4280 after last Friday’s all-time high, as geopolitical and economic uncertainty along with growing U.S. rate cut bets drove investors to the safe-haven metal.

  • Bitcoin (/BTC)The Crypto Future is up 4% near 111,000 in premarket trading and is rebounding from Friday’s 4-month lows.

  • VIX The CBOE Volatility Index fell 17.8% on Friday and settled at 20.78 as stocks rose. It was a volatile week for markets but the VIX did fall from its highest close since April 28th on Thursday.

  • U.S. Dollar (/DX) – The dollar is up 0.2% to 98.4.

Biggest Premarket Movers

Symbol

Product

Mark % Change (as of 7 AM ET)

HOLX

Hologic

+4.92%

COO

Cooper Companies

+4.31%

SMCI

Super Micro Computer

+3.51%

SWKS

Skyworks

-2.28%

TXN

Texas Instruments

-1.26%

QCOM

Qualcomm

-0.58%

Economic Data

Time

Event

10:00 AM ET

Leading Economic Indicators

11:30 AM ET

3-Month Bill Auction

6-Month Bill Auction

Notable Earnings

Premarket

Postmarket

Premarket Tomorrow

Postmarket Tomorrow

CLF

CADE, CCK, STLD, WRB, WTFC, ZION

MMM, KO, DHR, ELV, EFX, GLXY, GE, GM, GPC, HAL, LMT, NDAQ, NOC, PCAR, PNR, PM, PHM, DGX, RTX, SPWR, VMI

COF, CB, EQT, ISRG, MAT, NFLX, OMC, PEGA, TXN, WCN, WAL

Upgrades/Downgrades

  • Loop Capital upgrades Apple (AAPL) to Buy from Hold

  • Goldman Sachs upgrades Darden Restaurants (DRI) to Buy from Neutral

  • Barclays upgrades KLA Corp. (KLAC) to Overweight from Equal Weight

  • Barclays downgrades Marvell (MRVL) to Equal Weight from Overweight

  • Mizuho downgrades Texas Instruments (TXN) to Underperform from Neutral

  • Mizuho downgrades Skyworks (SWKS) & Qorvo (QRVO) to Underperform from Neutral

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