U.S. stock futures are higher ahead of the Wall Street open with falling yields and lower oil prices supportive of equities.

This follows losses led by semiconductor stocks on Monday, when Treasury Secretary Scott Bessent announced a plan to isolate Iran's economy by threatening to impose secondary sanctions on the Islamic Republic’s “enablers.” The plan dubbed “Operation Economic Outcast” also highlighted that no countries are exempt, including Iran’s biggest trade partner China. The Treasury Department also stated it could use its $1 trillion General Account to fund its plans to ramp up government bond purchases.

Investor focus will be on economic data this morning, including reports on Consumer Confidence, New Home Sales and Housing prices. Another catalyst for stocks and the bond market looms, with Federal Reserve Chairman Kevin Warsh set to deliver a speech Friday at the Fed’s annual symposium in Jackson Hole. Earnings are also ramping up with Nvidia’s (NVDA) results due after the close on Wednesday.

Snapshot (as of 7:45 AM ET)

• Oil (/CL) – Oil futures are down 3.58% to $81.97 per barrel
• Gold (/GC) – Gold futures are up 0.06% to 4,700.70 per ounce
• Bitcoin (/BTC) – The cryptocurrency futures are up 0.39% to 79,160
• VIX (/VIX) – The CBOE Volatility Index is down 0.57% to 15.76
• U.S. Dollar ($DXY) – The dollar index is up 0.01% to 99.013

Big Premarket Movers (as of 7:45 AM ET)

Advancers:

• SanDisk (SNDK) 4.35%
• Intel (INTC) 3.61%
• Coherent (COHR) 3.32%
• Marvell Technology (MRVL) 3.32%
• Lumentum Holdings (LITE) 3.17%

Decliners:

• Nike (NKE) -2.70%
• Albemarle (ALB) -1.96%
• Occidental Petroleum (OXY) -1.85%
• Devon Energy (DVN) -1.85%
• Lululemon Athletica (LULU) -1.48%

Economic Data (ET)

• 08:00 AM: Fed Barkin Speech
• 09:00 AM: S&P Case-Shiller Home Price Index
• 09:00 AM: FHFA House Price Index
• 10:00 AM: New Home Sales
• 10:00 AM: Consumer Confidence
• 10:00 AM: Richmond Fed Manufacturing Index
• 01:00 PM: 2-Year Note Auction
• 04:00 PM: Fed Barkin Speech

Notable Earnings

• Premarket: BMO, DKS, GFI, BZ, BNS, VIPS
• Postmarket: BOX, HEI, INTU, JOYY, NCNO, QFIN, SMTC, ZM
• Premarket Wednesday: ANF, BBWI, DCI, DY, JKS, KSS, LI, PLAB, SJM, WSM
• Postmarket Wednesday: A, CRWD, P, HPQ, NTNX, NVDA, OKTA, CRM, SNPS, URBN, VEEV

Upgrades/Downgrades

• Raymond James upgrades Advanced Micro Devices (AMD) from Outperform to Strong Buy
• Morgan Stanley upgrades Dynatrace (DT) from Equal Weight to Overweight
• Wells Fargo upgrades Shift4 Payments (FOUR) from Equal Weight to Overweight
• Wells Fargo downgrades FIS (FIS) from Overweight to Equal Weight
• Loop Capital downgrades Five Below (FIVE) from Buy to Hold
• Wolfe Research downgrades Paymentus (PAY) and Klarna (KLAR) from Outperform to Peer Perform

For this week's earnings and economic calendar, see Week Ahead: Jackson Hole Puts Fed in Focus, Nvidia (NVDA) Earnings

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