U.S. stock futures are slightly higher in premarket trading and are extending yesterday’s gains. Major stock averages rose on Tuesday as fears about artificial intelligence disruption across several industries dissipated.

Software and cybersecurity stocks also saw a relief rally in the regular session after Anthropic launched new connectors and plugins for its knowledge worker tool, Claude Cowork.

The moves come ahead of Nvidia’s (NVDA) quarterly earnings report, as well as results from software giant Salesforce (CRM) and Snowflake (SNOW), due after the closing bell. Nvidia’s results could still be make-or-break for the direction of the U.S. stock market due to its size within the major indices.

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil prices are up 0.7% near $66.10 a barrel, just below seven-month highs, as Iran ⁠said it was prepared to take any necessary steps to reach a deal with the United States ahead of nuclear talks later this week.
• Gold (/GC) – Gold futures are up 0.5% near $5200, near a three week high as profit taking and a firmer dollar pressured prices, while traders awaited clarity on U.S. tariff plans and the outcome of talks between Washington and Tehran.
• Bitcoin (/BTC) – The Crypto Future is up over 2% near 66,000 in premarket trading.
• VIX – The CBOE Volatility Index was down 7% on Tuesday and settled at 19.55 as stocks were higher.
• U.S. Dollar (/DX) – The dollar is flat at 97.8.

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

1. Axon Enterprise (AXON): +16.45%
2. Albemarle (ALB): +8.23%
3. Coinbase (COIN): +4.13%
4. Seagate Tech (STX): +3.03%
5. Robinhood (HOOD): +2.75%

1. First Solar (FSLR): -16.13%
2. Workday (WDAY): -9.47%
3. Godaddy (GDDY): -8.99%
4. HP Inc. (HPQ): -5.82%
5. Lowe’s (LOW): -3.62%

Economic Data

• 7:00 AM ET: MBA Mortgage Applications
• 9:35 AM ET: Fed’s Barkin Speaks
• 10:00 AM ET: New Home Sales (Delayed)
• 10:30 AM ET: Oil Inventories
• 11:00 AM ET: Fed’s Schmid Speaks
• 1:00 PM ET: 5-Year Note Auction
• 1:20 PM ET: Fed’s Musalem Speaks

Notable Earnings

• Premarket: BMO, BLMN, CRCL, DIN, HSBC, LOW, OC, PLAB, TBLA, TJX, TPH
• Postmarket: A, APA, ARRY, BJRI, AI, CHDN, EHTH, FTAI, GDRX, IMAX, JOBY, NOG, NU, NTNX, NVDA, PSTG, RRGB, CRM, SNOW, SNPS, TDOC, TKO, TTD, TCOM, UHS, URBN, ZIP, ZM
• Premarket Tomorrow: GOLF, BIDU, CELH, CARS, LNG, QBTS, DCI, GIL, HTZ, HRL, IQ, SJM, DNUT, NXST, NVAX, PZZA, PENN, RXT, SRE, SHAK, FOUR, STLA, TD, VIPS, VST
• Postmarket Tomorrow: AES, AMBA, ADSK, XYZ, CLOV, CTRA, CRWV, CPNG, DELL, DUOL, FLUT, INTU, MARA, MASI, MTZ, MNST, NTAP, PGNY, QXO, REAL, RKT, RKLB, SBAC, SOLV, SOUN, RUN, SG, WULF, ZS

Upgrades/Downgrades

• UBS upgrades IBM (IBM) to Neutral from Sell
• Oppenheimer upgrades Oracle (ORCL) to Outperform from Perform
• Jefferies upgrades Enphase Energy (ENPH) to Buy from Hold
• Evercore ISI downgrades Workday (WDAY) to In Line from Outperform
• TD Cowen downgrades Workday (WDAY) to Hold from Buy
• Wells Fargo downgrades Kroger (KR) to Equal Weight from Overweight

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