Traders Look Forward to Earnings Season

U.S. stock futures are relatively flat ahead of the Wall Street open as traders continue to assess the impact of the Government shutdown. The moves come after stocks had modest losses on Thursday. With little economic data due and some paused, investors will look ahead to the kick-off earnings season next week led by quarterly releases from the major financial companies.

Morning Movers

Snapshot (as of 7 AM ET)

  • Oil (/CL) – Oil prices are down over 1% near $60.80 a barrel, after settling around 1.6% lower in the previous session, as the market’s risk premium faded after Israel and Hamas agreed to the first phase of a plan to end the war in Gaza.

  • Gold (/GC) Gold Futures are rebounding 0.7% near $4010 and is on track for an eighth consecutive weekly gain, driven by broad political and economic uncertainty and expectations of further U.S. rate cuts, while silver hovered near a record high.

  • Bitcoin (/BTC)The Crypto Future is up 0.5% near 122,300 in premarket trading after hitting all-time highs earlier this week.

  • VIX The CBOE Volatility Index was up 0.8% on Thursday and settled at 16.43 as stocks fell modestly off of record highs.

  • U.S. Dollar (/DX) – The dollar is down 0.2% to 99.1.

Biggest Premarket Movers

Symbol

Product

Mark % Change (as of 7 AM ET)

AMCR

Amcor

+3.20%

LEN

Lennar

+2.26%

WBD

Warner Bros. Discovery

+1.87%

MOS

Mosaic

-8.94%

VZ

Verizon

-1.42%

HUM

Humana

-1.24%

Economic Data

Time

Event

9:45AM ET

Fed’s Goolsbee Speaks

10:00AM ET

Consumer Sentiment

1:00PM ET

Fed’s Musalem Speaks

2:00PM ET

Treasury Statement

Notable Earnings

Premarket

Postmarket

Premarket Monday

Postmarket Monday

None

None

FAST

None

Upgrades/Downgrades

  • JPMorgan upgrades NetEase (NTES) to Overweight from Neutral

  • Macquarie upgrades Baidu (BIDU) to Outperform from Neutral

  • HSBC upgrades Synchrony (SYF) to Buy from Hold

  • Jefferies downgrades Align Technology (ALGN) to Hold from Buy

  • Morgan Stanley downgrades Keysight Technologies (KEYS) to Equal Weight from Overweight

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