Morning Watchlist: Jensen Huang Keynote, FOMC Meeting
1 min read
U.S. Stock Futures are modestly lower in premarket trading following two straight days of gains. The recent positive moves come despite yesterday’s retail sales data that hit below expectations, rising 0.2% last month versus expectations of a 0.6% gain. The core rate rose 0.3%, which was in-line with estimates.
Investor focus will turn to the Fed with the FOMC meeting starting today and the announcement on interest rates tomorrow afternoon. Also on tap today is a call between President Trump and Russia’s Putin on a potential ceasefire, which may add some volatility to markets.
Snapshot (as of 7 AM ET)
- Oil (/CL) – Oil prices are up over 1% to the $68 level.
- Gold (/GC) – Gold is up around 1% after a new all-time high yesterday.
- Bitcoin (/BTC) – The cryptocurrency is down around 2% premarket.
- VIX – The CBOE Volatility Index has slightly below 21.
- U.S. Dollar (/DX) – The dollar is flat around 103.
Biggest Premarket Movers (as of 7 AM ET, Mark Change)
- Ralph Lauren (RL): +2.79%
- Newmont (NEM): +1.54%
- Linde (LIN): +1.24%
- Tesla (TSLA): -2.55%
- Entergy (ETR): -2.29%
- Broadcom (AVGO): -2.09%
Economic Data
- 8:30AM ET
- Housing Starts/Permits
- Import/Export Prices
- 9:15AM ET
- Industrial Production
- 11:00AM ET
- Treasury Buyback Announcement
- 1:00PM ET
- 20-Yr. Bond Auction
Earnings
- Premarket: IHS, BEKE, TME, XPEV, ZKH
- Postmarket: HQY, STNE, ZTO
- Premarket Tomorrow: GDS, GIS, KC, OLLI, SIG, TECHY, WSM
- Postmarket Tomorrow: FIVE, YY, WS
Upgrades/Downgrades
- Goldman Sachs upgrades Ralph Lauren (RL) to Buy from Neutral
- Keefe Bruyette upgrades Block (XYZ) to Outperform from Market Perform
- Morgan Stanley upgrades Lucid (LCID) to Equal Weight from Underweight
- Guggenheim downgrades Incyte (INCY) to Neutral from Buy
- Barclays downgrades Pepsico (PEP) to Equal Weight from Overweight
- UBS downgrades Paccar (PCAR) to Neutral from Buy
