U.S. stock futures are slightly lower in premarket trading after all three major indexes rose to fresh record highs on Monday.

The rally in tech once again led stocks yesterday, led by Nvidia (NVDA) following the launch of a new chip for PCs and comments from CEO Jensen Huang at the Computex tech trade show in Taipei, Taiwan. The new-chip news lifted the software sector with big gains in Oracle (ORCL), Salesforce (CRM), and ServiceNow (NOW) Monday.

This morning, HPE shares are up over 20% after an earnings beat and a guidance raise. Alphabet (GOOGL) shares are down over 2% after it announced plans to raise $80B in equity offerings to fund its AI ambitions, including through a $10B sale to Berkshire Hathaway (BRK/B). Focus today will be on headlines from the Middle East along with JOLTS data on U.S. job openings, hires and separations.

Snapshot (as of 7 AM ET)

• Oil (/CL) – The U.S. benchmark oil price fell roughly 1% to near $91 per barrel, following Monday’s 6% spike.
• Gold (/GC) – Gold is up over 1% near $4557, buoyed by lower U.S. Treasury yields. 
• Bitcoin (/BTC) – The cryptocurrency future is down roughly 2.5% near 69,700.
• VIX – The CBOE Volatility Index was up 0.6% to 16.14 after a 4.8% climb Monday.

Biggest Premarket Movers (as of 8 AM ET)

Gainers:

• Generac Holdings (GNRC) 9.19%
• Microchip Technology (MCHP) 7.63%
• Lumentum Holdings (LITE) 6.37%
• Broadcom (AVGO) 5.77%

Decliners:

• Intuit (INTU) -5.57%
• ServiceNow (NOW) -4.14%
• Workday (WDAY) -3.90%
• Oracle (ORCL) -3.81%
• Carvana (CVNA) -3.27%

Economic Data

• 8:30 AM ET: Fed’s Hammack Speaks
• 10:00 AM ET: Job Openings and Labor Turnover Survey (JOLTS)

Notable Earnings

• Premarket: DG, DCI, MOMO, SIG, VSCO
• Postmarket: GTLB, PANW, SPWH, ULTA
• Premarket Tomorrow: CGNT, M, MDT, OLLI, RENT, THO
• Postmarket Tomorrow: AVGO, AI, CHPT, CRWD, FIVE, WOOF, PVH, VEEV

Upgrades/Downgrades

• Arete upgrades Meta Platforms (META) to Buy from Neutral
• Loop Capital upgrades Hewlett Packard Enterprise (HPE) to Buy from Hold
• Wedbush upgrades TripAdvisor (TRIP) to Outperform from Neutral
• UBS downgrades Sherwin-Williams (SHW) from Buy to Neutral
• Goldman Sachs downgrades Intuit (INTU) from Neutral to Sell
• Piper Sandler downgrades Fulcrum Therapeutics (FULC) from Overweight to Underweight

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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.