Futures Point Higher as Oil Retreats, Earnings and Data Loom

Early trading points to upside, with S&P 500 futures (/ES) up +0.32% and the tech-heavy Nasdaq 100 futures (/NQ) up +0.50%. The U.S.-Iran ceasefire is still in place despite mounting tensions, with crude oil futures (/CL) backing off -1.83%.

Palantir (PLTR) is down about -3% after earnings despite posting record revenue and raising guidance, while Pfizer (PFE) is up +1.3% after its own quarterly report beat estimates.

Economic data for today includes Balance of Trade, ISM Services, JOLTS, and New Home Sales. Meanwhile, investors can look toward earnings from AMD (AMD), Shopify (SHOP), Arista Networks (ANET), and Occidental Petroleum (OXY) today.

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil is backing off somewhat, down -1.33% at 105.00 after yesterday’s +2.57% advance amid heightened tensions in the U.S.-Iran war.
• Gold (/GC) – Gold is up +0.66% at about 4,563, after a -2.01% drop yesterday that closed at 4,532.4 and held on to prior lows from the past week.
• Bitcoin (/BTC) – The cryptocurrency up +1.07% at about 81,250, and is on pace for its fourth green day in a row with a roughly +8.4% rally since relative lows of 75,130 on Apr. 29.
• VIX –The Vix is at 17.79 in early trading, retreating from yesterday’s close of 18.29.
• U.S. Dollar (/DX) – The greenback is up +0.14% near 98.40, with early trading pointing toward a third straight day of gains after yesterday’s +0.28% move.

Biggest Premarket Movers (as of 7 AM ET)

1. Rockwell Automation (ROK): +8.67%
2. Waters (WAT): +7.99%
3. Micron Technology (MU): +4.61%
4. Fidelity (FIS): +4.36%
5. Cummins (CMI): +4.00%
6. ON Semiconductor (ON): -5.72%
7. Eaton Corp (ETN): -4.13%
8. IQVIA Holdings (IQV): -3.69%
9. Pool Corp (POOL): -2.08%
10. DaVita (DVA): -2.00%

Economic Data

• 9:45 AM ET: Final Services PMI
• 10:00 AM ET: ISM Services PMI, JOLTS Job Openings, New Home Sales, FOMC Member Bowman Speaks
• 12:30 PM ET: FOMC Member Barr Speaks
• 4:30 PM ET: API Weekly Statistical Bulletin

Notable Earnings

• Premarket: SHOP, PFE, BUD, DUK, CMI, RACE, MPC, TDG, CCJ, ROK, PYPL, DD
• Postmarket: AMD, ANET, EMR, EOG, LITE, OXY, CTVA, EA, DVN, SMCI, JOBY, QRVO, MTCH
• Premarket Tomorrow: NVO, DIS, UBER, CVS, MAR, JCI, QSR, KHC, CART
• Postmarket Tomorrow: ARM, APP, DASH, WBD, FTNT, TKO, ALB, CF, FLUT, SNAP, BROS

Upgrades/Downgrades

• BofA upgrades Ulta Beauty (ULTA) to Buy from Neutral
• Argus upgrades Chipotle (CMG) to Buy from Hold
• Raymond James upgrades Devon Energy (DVN) to Strong Buy from Outperform
• Erste Group downgrades Verizon (VZ) to Hold from Buy
• Piper Sandler downgrades Tractor Supply (TSCO) to Neutral from Overweight
• Fox Advisors downgrades Fabrinet (FN) to Equal‑Weight 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.