Markets Point to Lower Open
Markets are pointing toward a lower open in early trading, with S&P 500 futures (/ES) down about -0.3% as traders prepare for Nvidia (NVDA) earnings Wednesday.
Oil prices pulled back somewhat Monday after President Donald Trump said he postponed a planned military attack on Iran at the behest of Middle Eastern leaders.
Today’s earnings include Home Depot (HD), which reported first quarter profit that beat analyst expectations. It maintained annual forecasts but warned of volatility. Also reporting: Keysight Technologies (KEYS), Toll Bros. (TOL), and Cava Group (CAVA). Meanwhile, traders looking for economic data have the ADP Employment Report and Pending Home Sales to consider.
Snapshot (as of 7 AM ET)
- Oil (/CL) – Oil is down -0.67% at about $103.67 per barrel
- Gold (/GC) – Gold is down -0.43% near $4,537.67 per ounce
- Bitcoin (/BTC) – The cryptocurrency futures are down -0.27% at about 77,690
- CBOE Volatility Index (VIX) – The Vix is up 1.18% at 18.05
- U.S. Dollar (/DX) – Dollar futures are up slightly
Biggest Premarket Movers (as of 8:30 AM ET)
(Winners)
- SERVICENOW INC (NOW) 5.11%
- INTUIT (INTU) 2.12%
- WORKDAY INC A (WDAY) 2.03%
- SALESFORCE INC (CRM) 1.55%
- ADOBE INC (ADBE) 1.31%
(Losers)
- WESTERN DIGITAL CORP (WDC) -3.47%
- SANDISK CORP (SNDK) -3.10%
- AKAMAI TECHNOLOGIES INC (AKAM) -3.00%
- SEAGATE TECHNOLOGY HLDGS PLC (STX) -2.95%
- QUALCOMM INC (QCOM) -2.57%
Economic Data (Time (ET)
- 8:15 AM: ADP Employment Change Weekly
- 8:55 AM: Redbook YoY
- 9:00 AM: Fed Waller Speech
- 10:00 AM: Pending Home Sales MoM
- 10:00 AM: Pending Home Sales YoY April
- 11:30 AM: Net 6-Week Bill Auction
- 4:30 PM: API Crude Oil Stock Change
- 7:00 PM: Fed Paulson Speech
- 7:00 PM: Fed Venable Speech
Notable Earnings
- Premarket: HD, EXP
- Postmarket: KEYS, TOL, CAVA
- Premarket Tomorrow: TGT, LOW, TJX, VFC, ADI, HAS, ENS
- Postmarket Tomorrow: NVDA, INTU, NDSN, URBN, ELF
Upgrades/Downgrades
- Bernstein upgrades American Tower to Outperform from Market Perform
- UBS upgrades Jazz Pharmaceuticals to Buy from Neutral
- Canaccord upgrades Progyny to Buy from Hold
- DZ Bank downgrades CrowdStrike to Sell from Buy
- BMO Capital downgrades The Hanover to Market Perform from Outperform
- UBS downgrades James River Group to Neutral from Buy
