U.S. stock futures were relatively flat premarket as traders assessed the latest developments in the Iran war negotiations.

Oil was down after mediators Qatar and Pakistan said that U.S. and Iranian officials had agreed on a roadmap to reach a final deal within 60 days. Crude prices were initially higher on Sunday evening after U.S. President Donald Trump threatened renewed military action against Iran, raising concerns about the durability of a fragile interim peace agreement reached last week.

The moves come after the major indices had a winning week for stocks. Focus this week will be on inflation with Personal Income and outlays due on Thursday along with earnings from FedEx (FDX) and Micron (MU) on Tuesday and Wednesday respectively.

Snapshot (as of 7:30 AM ET)

• Oil (/CL) – Oil prices are down 0.9% near $75 per barrel
• Gold (/GC) – Gold futures are down 0.4% to near $4223
• Bitcoin (/BTC) – The cryptocurrency future is up 2.6% to near 64,545
• VIX – The CBOE Volatility Index is up 3% near 17.30
• U.S. Dollar ($DXY) – The dollar is up 0.05% to 100.895

Biggest Premarket Movers (as of 7:30 AM ET)

Advancers:

• Western Digital Corp (WDC) 4.93%
• Micron Technology Inc (MU) 4.54%
• Sandisk Corp (SNDK) 4.18%
• Super Micro Computer Inc (SMCI) 3.39%
• Intel Corp (INTC) 3.10%

Decliners:

• Echostar Corp (SATS) -2.45%
• Applovin Corp (APP) -2.39%
• Robinhood Mkts Inc (HOOD) -1.85%
• Newmont Corp (NEM) -1.82%
• Alphabet Inc (GOOGL) -1.69%

Economic Data (ET)

11:30 AM: 3 and 6-Month Bill Auctions

Notable Earnings

• Premarket: N/A
• Postmarket: N/A
• Premarket Tuesday: CCL, KFY
• Postmarket Tuesday: FDX, KBH, WOR

Upgrades/Downgrades

• GF Securities upgrades Super Micro Computer (SMCI) to Buy from Hold
• Roth Capital upgrades ConocoPhillips (COP) and APA Corp (APA) to Buy from Neutral
• JPMorgan and Barclays upgrade Visteon (VC) to Overweight from Neutral, and from Equal Weight, respectively
• KGI Securities downgrades Apple (AAPL) to Hold from Outperform
• Morgan Stanley downgrades Cleveland-Cliffs (CLF) to Equal Weight from Overweight
• William Blair downgrades Accenture (ACN) to Market Perform 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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