Equity markets are mixed with crude oil futures jumping +3% to begin the trading week after President Trump rejected Iran’s response to a proposed peace plan, leaving the critical oil transit route through the Strait of Hormuz effectively closed.

The S&P 500 (/ES) and Russell 2000 (/RTY) futures are headed lower, but Nasdaq 100 futures are showing slight gains.

Ecodata is light to start the week, with Existing Home Sales as the only major figure to consider. Meanwhile, earnings include Oklo (OKLO), Constellation Energy (CEG), JD .com (JD), and Onon Holdings (ONON).

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil prices are up +3.12% for the U.S. benchmark
• Gold (/GC) – Gold futures are down -1%
• Bitcoin (/BTC) – The cryptocurrency futures are up +1.19%
• VIX – The CBOE Volatility Index has risen 5.7%
• U.S. Dollar (/DX) – Dollar index futures are flat

Biggest Premarket Movers (as of 7 AM ET)

MODERNA INC (MRNA): +8.65%

QUALCOMM INC (QCOM): +6.25%

MICRON TECHNOLOGY IN (MU): +5.58%

INTEL CORP (INTC): +5.56%

LUMENTUM HLDGS INC (LITE): +5.28%

THE MOSAIC CO (MOS): -5.36%

APPLOVIN CORP Class A (APP): -2.15%

PALANTIR TECHNOLOGIE Class A (PLTR): -1.97%

THE TRADE DESK INC Class A (TTD): -1.91%

ORACLE CORP (ORCL): -1.76%

Economic Data

10:00 AM: Existing Home Sales APR

10:00 AM: Existing Home Sales MoM APR

10:20 AM: NY Fed Bill Purchases 1 to 4 months

11:30 AM: 3-Month Bill Auction

11:30 AM: 6-Month Bill Auction

1:00 PM: 3-Year Note Auction

Notable Earnings

Premarket: CEG, B, FOX, MOS, MNDY

Postmarket: SPG, ASTS, STE, RGTI, HIMS, MARA, ACHR, PLUG

Premarket Tomorrow: SE, JD, ONON, TME

Postmarket Tomorrow: OKLO

Upgrades/Downgrades

• Macquarie upgrades News Corp to Outperform from Neutral
• Mizuho upgrades Primoris to Outperform from Neutral
• Raymond James upgrades Terex to Strong Buy from Outperform
• UBS downgrades Dell Technologies to Neutral from Buy
• HSBC downgrades Trade Desk to Reduce from Hold
• BNP Paribas downgrades HubSpot to Neutral 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.