U.S. stock futures are under pressure ahead of the Wall Street open as December trading begins. 

The moves come after a 5-session win streak for equities to wrap up a volatile November. The S&P 500 and Nasdaq-100 last week ripped higher by 3.7% and 4.9%, respectively, while the Dow Jones Industrial Average advanced 3.2%. 

Investors will focus on ISM Manufacturing data today along with shopping from consumers on Black Friday. American consumers spent $11.8 billion online on Black Friday, according to data from Adobe Analytics, which was 9.1% above last year.

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil prices are up over 1% near $59.30 a barrel as the Caspian Pipeline Consortium halted exports after a major drone attack and U.S.-Venezuela tensions raised concerns about supply, while OPEC+ agreed to leave oil output levels unchanged for the first quarter of 2026. The Organization of the Petroleum Exporting Countries and its allies initially agreed on a pause in early November, slowing a push to regain market share with looming fears of a supply glut.
• Gold (/GC) – Gold prices are up 0.7% near $4280 and hit their highest level in six weeks, driven by investor expectations of a possible U.S. interest rate cut later this month and shifts in Federal Reserve leadership, while silver surged to a record high.
• Bitcoin (/BTC) – The Crypto Future is down almost 6% near 86,000 in premarket trading.
• VIX – The CBOE Volatility Index fell nearly 5% on Friday and settled at 16.35 as stocks rallied for the fifth session in a row. The VIX settled at its lowest closing price in a month on Friday but is up over 10% this morning as stocks are weak.
• U.S. Dollar (/DX) – The dollar is down 0.3% to about 99.1.

Biggest Premarket Movers (Mark % Change as of 7 AM ET)

1. Wynn Resorts (WYNN): +2.04%
2. DoorDash (DASH): +1.33%
3. Newmont (NEM): +1.12%

1. Coinbase (COIN): -4.87%
2. ResMed (RMD): -4.62%
3. Robinhood (HOOD): -4.31%

Economic Data

• 9:45 AM ET: PMI Manufacturing - Final
• 10:00 AM ET: ISM Manufacturing, Construction Spending

Notable Earnings

• Premarket: None
• Postmarket: CRDO, MDB
• Premarket Tomorrow: BNS, SIG, UNFI
• Postmarket Tomorrow: AEO, ASAN, BOX, CRWD, GTLB, MRVL, OKTA, PSTG

Upgrades/Downgrades

• HSBC upgrades Chevron (CVX) to Buy from Hold
• Arete upgrades Unity (U), Take-Two (TTWO) to Buy from Neutral
• BNP Paribas Exane upgrades Toast (TOST) to Outperform from Neutral
• Bernstein downgrades Zscaler (ZS) to Market Perform from Outperform
• Barclays downgrades American Tower (AMT), Crown Castle (CCI) to Equal Weight from Overweight
• HSBC downgrades TotalEnergies (TTE) to Hold from Buy

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.