All Eyes on Today’s Economic Reports

U.S. stock futures are relatively flat ahead of the Wall Street open after the major indices had their third straight session of gains on Monday. Tech and Small caps were strong yesterday with 10 of the 11 S&P 500 Sectors positive.

Investor focus turns to delayed data today along with Consumer Confidence numbers which have been weak despite the rally in markets. Q3 GDP is expected at a robust 3.2% in the advanced number with a lift from net exports. PCE seen at a decent 2.7% on the delayed data with only two estimates instead of the three for Q3.

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil prices are relatively flat near $58 a barrel after rising more than 2% in the previous session as the U.S. said it might sell Venezuelan crude it has seized, while Ukraine’s attacks on Russian vessels and piers heightened supply disruption fears.
• Gold (/GC) – Gold futures are up 1% near $4520 and hit another record high overnight, as investors flocked to the safe-haven metal on U.S.-Venezuela tensions, while silver also rallied to a fresh peak. The Dollar is also down to 2-month lows which is supporting the precious metals.
• Bitcoin (/BTC) – The Crypto Future is down 0.5% near 87,900 in premarket trading.
• VIX – The CBOE Volatility Index was down over 5% on Monday and settled at 14.08 as stocks were higher. It was the lowest close for the VIX in a year.
• U.S. Dollar (/DX) – The dollar is down 0.43% to 97.86.

Biggest Premarket Movers (as of 7 AM ET)

1. Huntington Ingalls (HII): +3.67%
2. Albemarle (ALB): +2.64%
3. Newmont Corp (NEM): +1.10%
4. Ametek Inc (AME): +0.86%
5. Carnival Corp (CCL): +0.81%

1. Brown & Brown (BRO): -0.0.71%
2. Robinhood (HOOD): -0.71%
3. Eli Lilly (LLY): -0.69%
4. Coinbase Global (COIN): -0.65%
5. Dominos Pizza (DPZ): -0.64%

Economic Data

• 8:30 AM ET: Durable Goods Orders, GDP
• 9:15 AM ET: Industrial Production
• 10:00 AM ET: Consumer Confidence, New Home Sales, Richmond Fed Mfg. Index
• 1:00 PM ET: 5-Year Note Auction

Notable Earnings

• Premarket: N/A
• Postmarket: LMNR
• Premarket Wednesday: N/A
• Postmarket Wednesday: N/A

Upgrades/Downgrades

• CFRA upgrades Pool Corp (POOL) to Buy from Hold.
• TD Cowan downgrades Janus Henderson (JHG) to Hold from Buy.
• Evercore ISI downgrades Coty (COTY) to In Line from Outperform.

This material is intended for informational purposes only and should not be considered a personalized recommendation or investment advice. Investors should review investment strategies for their own particular situations before making any decisions.

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Data contained herein is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed. All events and times listed are subject to change without notice.