U.S. stock futures are mixed premarket as traders monitor Middle East developments and sell tech stocks following an underwhelming report from Broadcom (AVGO).

The S&P 500 snapped a nine-session winning streak Wednesday, with stocks pressured by rising yields, geopolitical risk and higher oil prices. Despite earnings that beat analyst expectations, shares of semiconductor giant Broadcom traded nearly 15% lower and cybersecurity stalwart CrowdStrike (CRWD) fell 10% after guiding for lackluster second-quarter revenue guidance.

Investor focus Thursday will be on earnings fallout, economic data along with a U.S-brokered Israel-Lebanon ceasefire agreement.

Snapshot (as of 8 AM ET)

• Oil (/CL) – Oil prices are down nearly 4% to near $92 per barrel
• Gold (/GC) – Gold futures are up about 1.4% to $4,533.50
• Bitcoin (/BTC) – The cryptocurrency is down more than 4%
• VIX – The CBOE Volatility Index has moved up more than 2% to 16.44
• U.S. Dollar (/DX) – The dollar is down 0.33% to 99.20

Biggest Premarket Movers (as of 8 AM ET)

Gainers:

• UnitedHealth Group (UNH) 2.72%
• Accenture plc (ACN) 2.63%
• ServiceNow inc (NOW) 2.63%
• Zoetis inc (ZTS) 2.59%
• The Cigna Group (CI) 2.50%

Decliners:

• Broadcom inc (AVGO) -14.91%
• CrowdStrike hlgs (CRWD) -9.31%
• Ciena corp (CIEN) -8.12%
• Micron technology inc (MU) -7.15%
• Super Micro Computer (SMCI) -6.71%

Economic Data (ET)

• 5:30 AM Challenger Job Cuts
• 8:30 AM Jobless Claims
• 8:30 AM Productivity and Costs
• 8:30 AM Fed’s Barkin Speaks
• 10:30 AM Natural Gas Inventories
• 1:10 PM Fed’s Daly Speaks

Upgrades/Downgrades

• Keybanc upgrades Murphy Oil (MUR) to Overweight from Sector Weight
• Jefferies upgrades RTX (RTX) to Buy from Hold
• Bank of America upgrades UnitedHealth (UNH) to Buy from Neutral
• Macquarie downgrades Broadcom (AVGO) to Neutral from Outperform
• Evercore ISI downgrades PVH Corp. (PVH) to In Line from Outperform
• Wells Fargo downgrades Commercial Metals (CMC) to Equal Weight from Overweight

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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