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TSLA, IBM Fall After Earnings, Oil Spikes
Tom White
October 23, 2025
U.S. stock futures are relatively flat ahead of the Wall Street open as investors digested quarterly earnings release.
Tesla (TSLA) and IBM shares are under pressure post earnings last night. Tesla, which kicked off reports from the “Magnificent Seven” megacap tech group, is down 3% on the back of mixed third-quarter results. IBM is down about 6% after the tech company beat Wall Street estimates but reported in-line software revenue.
Yesterday’s moves lower came after Treasury Secretary Scott Bessent said the White House is mulling plans to curb exports to China made with U.S. software. Investor focus remains on earnings along with the 23rd day of the government shutdown ahead of next week’s meeting between President Trump and China on trade.
Morning Movers
Snapshot (as of 7 AM ET)
Oil (/CL) – Oil prices jumped 5% near $61.40 a barrel after the Trump administration imposed further sanctions on Russia’s two largest crude companies, citing Moscow’s “lack of serious commitment to a peace process to end the war in Ukraine.
Gold (/GC) – Gold prices are up 1.5% near $4130, as U.S. sanctions against Russia and possible new export controls on China added to geopolitical risks, buoying demand for safe-haven assets. Gold futures are still down over 3% this week after hitting record highs on Monday.
Bitcoin (/BTC) – The Crypto Future is up 1.5% near 109,600 in premarket trading and is falling from yesterday’s rebound rally.
VIX – The CBOE Volatility Index rose 4% on Wednesday and settled at 18.60 as stocks fell.
U.S. Dollar (/DX) – The dollar is up 0.2% to 98.9.
Biggest Premarket Movers
Symbol | Product | Mark % Change (as of 7 AM ET) |
|---|---|---|
WST | West Pharma | +8.30% |
DOW | Dow | +6.68% |
LVS | Las Vegas Sands | +5.22% |
MOH | Molina Healthcare | -18.00% |
IBM | IBM | -7.13% |
CNC | Centene | -7.00% |
Economic Data
Time | Event |
|---|---|
8:30 AM ET | Chicago Fed Natl. Activity Index |
10:00 AM ET | Fed’s Bowman Speaks |
10:25 PM ET | Fed’s Barr Speaks |
10:30 AM ET | Natural Gas Inventories |
11:00 AM ET | Kansas City Fed Mfg. Index |
Notable Earnings
Premarket | Postmarket | Premarket Tomorrow | Postmarket Tomorrow |
|---|---|---|---|
AB, AAL, AN, BX, BFH, BC, CBRE, CNP, DOV, DOW, FSV, FCX, HAS, HON, MBLY, MSM, NOK, PTEN, RCI, ROP, R, SNY, SAH, LUV, STM, TMUS, FTI, TXT, TSCO, TRU, UNP, VLO, VC | ALK, BKR, BYD, DECK, DLR, F, INTC, MHK, NEM, NXT, NSC, RHI, TER, WU | BAH, GD, HCA, ITW, PG, VRTS | None |
Upgrades/Downgrades
Deutsche Bank upgrades U.S. Bancorp (USB) to Buy from Hold
BofA upgrades Zions Bancorp (ZION) to Neutral from Underperform
JPMorgan upgrades LendingClub (LC) to Overweight from Neutral
Arete downgrades Take-Two Interactive (TTWO) to Neutral from Buy
KeyBanc downgrades Winnebago (WGO) to Sector Weight from Overweight
Mizuho downgrades Enphase Energy (ENPH) to Neutral from Outperform
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