U.S. stock futures are modestly higher ahead of the Wall Street open following Tuesday’s session where investors rotated out of some technology names and drove a rally in more risk-off parts of the market.

The Dow Industrial Index settled at a record closing price with blue chips and staples gaining yesterday as traders are growing weary of the valuations in the AI trade.

Focus today will be on the Government shutdown and a potential vote in the House today after the Senate approved a spending Bill on Monday evening.

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil prices are down 1% near $60.40 a barrel on the impact of the latest U.S. sanctions on Russian oil and optimism that the U.S. government shutdown could end soon, although oversupply concerns limited gains.
• Gold (/GC) – Gold prices are up 0.6% near $4135 and are near three-week highs, bolstered by expectations that a potential end to the U.S. government shutdown and resumption of economic data could set the stage for the Federal Reserve to trim interest rates next month.
• Bitcoin (/BTC) – The Crypto Future is up over 2% near 105,500 in premarket trading.
• VIX – The CBOE Volatility Index fell 1.8% on Tuesday and settled at 17.28 as stocks were mostly higher.
• U.S. Dollar (/DX) – The dollar is up 0.1% to 99.4.

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

1. AMD (AMD): +5.55%
2. Micron (MU): +2.12%
3. IBM (IBM): +2.07%

1. Moderna (MRNA): -1.21%
2. Target (TGT): -0.63%
3. Coca-Cola (KO): -0.40%

Economic Data

• 7:00 AM ET: MBA Mortgage Applications
• 9:20 AM ET: Fed’s Williams Speaks
• 10:00 AM ET: Fed’s Paulson Speaks
• 10:20 AM ET: Fed’s Waller Speaks
• 12:15 PM ET: Fed’s Miran Speaks, Fed’s Bostic Speaks
• 1:00 PM ET: 10-Year Note Auction
• 4:00 PM ET: Fed’s Collins Speaks

Notable Earnings

• Premarket: CRCL, GFS, HUYA, HIS, JMIA, ONON, TME, TDG
• Postmarket: CSCO, FLUT, IBTA, KLC, MFC, PAAS, SERV
• Premarket Tomorrow: BILI, BITF, CSIQ, JD, SBH, SPB, TCEHY, DIS
• Postmarket Tomorrow: AMAT, BZH, NU, RCAT, SPCE

Upgrades/Downgrades

• KeyBanc upgrades AT&T (T) to Overweight from Sector Weight
• Deutsche Bank upgrades Sea Limited (SE) to Buy from Hold
• KeyBanc upgrades Progyny (PGNY) to Overweight from Sector Weight
• Daiwa downgrades Fortinet (FTNT) to Neutral from Outperform
• Raymond James downgrades Bath & Body Works (BBWI) to Market Perform from Outperform

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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.