U.S. stock futures are slightly lower in premarket trading as investors looked ahead to corporate earnings from big tech companies and oil prices rise.

The moves come after tech rallied on Tuesday and better-than-expected earnings from blue-chip companies including 3M (MMM) and General Motors (GM). Oil prices are up about 3% ahead of the opening bell near $87 a barrel and hit a nearly a six-week high this morning.

Crude prices jumped after U.S. Secretary of State Marco Rubio told the Association of Southeast Asian Nations (ASEAN) Foreign Ministers’ meeting in the Philippines on Wednesday that Iran is “not serious about talks.” Along with geopolitical tensions, investors are looking ahead to earnings after the bell from Alphabet (GOOGL), IBM, ServiceNow (NOW) and Tesla (TSLA).

Snapshot (as of 8 AM ET)

• Oil (/CL) – Oil futures are up 3.4% $87.21 per barrel
• Gold (/GC) – Gold futures are up 1.18% per ounce to 4,124.0
• Bitcoin (/BTC) – The cryptocurrency futures are down 0.61% to 66,115
• VIX (/VIX) – The CBOE Volatility Index is UP 3.5% to 17.65
• U.S. Dollar ($DXY) – The dollar index is down 0.02% to 101.153

Biggest Premarket Movers (as of 8 AM ET)

Advancers

• Super Micro Computer (SMCI) 15.45%
• AT&T (T) 4.54%
• Dell Technologies (DELL) 2.81%
• Westinghouse Air Brake Technologies (WAB) 2.49%
• Hewlett Packard Enterprise (HPE) 2.25%

Decliners

• GE Vernova (GEV) -5.54%
• TE Connectivity (TEL) -5.03%
• Micron Technology (MU) -4.00%
• SanDisk (SNDK) -3.55%
• Western Digital (WDC) -3.54%

Economic Data (ET)

• 7:00 AM: MBA Mortgage Applications
• 10:00 AM: Atlanta Fed Business Inflation Expectations
• 10:30 AM: EIA Oil Inventories
• 1:00 PM: 20-Year Bond Auctions

Notable Earnings

• Premarket: T, CME, EQNR, GEV, MCO, NTRS, OTIS, PM, PHM, RCI, RPM, TDY, TNL, WAB
• Postmarket: GOOGL, AVB, CCI, CSX, EQR, GL, IBM, KALU, KMI, KNX, LVS, MOH, PKG, QS, RS, ROL, NOW, SLG, SON, LUV, TSLA, TXN, URI, WCN, WEX, WH
• Premarket Tomorrow: ACI, AAL, AMP, BX, BFH, CX, CLF, CMCSA, DOV, DOW, FCX, HOG, HON, HBAN, INFY, LMT, MBLY, NDAQ, NOK, NSC, PCG, DGX, ROP, RTX, R, STM, TMUS, TECK, TMO, TSCO, UNP, VC
• Postmarket Tomorrow: SAM, BYD, DECK, DLR, EW, HIG, INTC, NEM, RNG, RHI, SAP, SKYW, VRSN

Upgrades/Downgrades

• Truist upgrades CoreWeave (CRWV) to Buy from Hold
• Stifel upgrades DigitalOcean (DOCN) to Buy from Hold
• Citizens downgrades Pegasystems (PEGA) to Market Perform from Outperform
• JPMorgan downgrades Crown Holdings (CCK) to Neutral from Overweight

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