U.S. stock futures are lower in the premarket after the S&P 500 and Dow Index snapped 9-session win streaks on Monday. Equities are extending yesterday’s losses as concerns about the trade war’s damaging impact on companies and the world economy. Ford (F) dropped 2% after the carmaker pulled its financial guidance and flagged a total tariff impact of about $2.5 billion on 2025 earnings. No official trade deals between the U.S. and its trading partners have yet been announced although Treasury Secretary Scott Bessent stated Monday that “we’re very close to some deals.” With little economic data due, investors will focus on the start of the FOMC meeting and more earnings after the bell, including results from AMD.

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil are up over 2% near $58.50 after hitting nearly four-year lows in the previous session that was driven by an OPEC+ decision to accelerate output increases, stoking fears of oversupply at a time when U.S. tariffs have spurred concerns about demand.
• Gold (/GC) – Gold prices are up 2% near $3390 and rose to a two-week high as concerns over U.S. President Donald Trump’s tariff plans boosted interest in safe-haven metal, while investors also kept a close tab on the upcoming Federal Reserve policy meeting.
• Bitcoin (/BTC) – The crypto future is down over 0.5% near $94K.
• VIX – The CBOE Volatility Index was up 4.2% on Monday and settled at 23.64 as stocks fell. It is up another 5% to 25 this morning.
• U.S. Dollar (/DX) – The dollar is slightly down near 99.4.

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

1. Celanese (CE): +3.64%
2. Zoetis (ZTS): +2.49%
3. Newmont (NEM): +1.40%

1. Palantir (PLTR): -7.41%
2. Vertex Pharma (VRTX): -5.04%
3. Constellation Energy (CEG): -4.58%

Economic Data

• FOMC Meeting Begins
• 8:30AM ET: Intl. Trade in Goods/Services
• 1:00PM ET: 10-Year Note Auction

Notable Earnings

• Premarket: AEP, ARMK, ADM, ARRY, BALL, BAM, CELH, CEG, DDOG, DUK, ERJ, ENR, EXPD, FIS, GPN, GFS, J, KTB, LEA, LDOS, MPC, MAR, BTU, PTLO, PGR, PHG, SEDG, SUN, TDG, SEAT, KLG, ZTS
• Postmarket: AMD, ALGT, ANET, CC, CRUS, COTY, CPNG, DVN, EA, FLYW, FBIN, GO, KGC, LCID, LITE, MASI, MOS, OPEN, RDFN, RVLV, RIVN, SU, SMCI, TDC, UPST, WYNN
• Premarket Tomorrow: GOLF, ADNT, GOLD, BLMN, BWA, BG, CDW, DK, DIN, EMR, FTS, GDRX, HAIN, JCI, DNOW, OC, ROK, RMBL, TBLA, TEVA, UBER, U, VST, DIS
• Postmarket Tomorrow: AMC, DOX, APA, APP, ARM, CAR, BHF, BMBL, CVNA, CF, CLF, DASH, BROS, FLUT, FTNT, GT, HRB, JOBY, KD, LZ, OXY, PAYC, SNDK, SWKS, SONO, RUN, ZG

Upgrades/Downgrades

• Susquehanna upgrades CN (CNI) to Positive from Neutral
• Northcoast downgrades McDonald’s (MCD) to Neutral from Buy
• DZ Bank downgrades Chevron (CVX) to Sell from Buy
• JPMorgan downgrades Sweetgreen (SG) to Neutral from Overweight

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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.