U.S. stock futures are slightly lower in premarket trading after major averages posted gains in the previous session, as investor jitters around the U.S.-Iran war eased. Stocks rebounded in Wednesday’s regular session, buoyed by gains in technology and semiconductor giants.

Oil prices are spiking over 3% near $77 a barrel this morning after stabilizing yesterday with crude now up 14% this week. Fears of disruption to regional oil and gas supplies subsided after President Donald Trump said on Tuesday that the U.S. is preparing to provide risk insurance and escorts to ships in the Persian Gulf in an effort to ensure traffic can move through the Strait of Hormuz.

Investor focus remains on Middle East headlines along with earnings and data. Broadcom (AVGO) shares are up 6% ahead of the open after beating earnings expectations and raising guidance. 

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil prices are up 3% near $77 a barrel, extending a rally as the escalating U.S.-Israeli war with Iran continued to disrupt supplies, prompting some major producers to cut production and others to take measures to ensure supply security.
• Gold (/GC) – Gold prices are up 0.8% near $5175, lifted by safe-haven demand amid an escalating war in the Middle East, while a stronger dollar and concerns around the U.S. Federal Reserve’s monetary policy capped gains.
• Bitcoin (/BTC) – The Crypto Future is down 0.5% near 73,100 in premarket trading.
• VIX – The CBOE Volatility Index was down 10% on Wednesday and settled at 21.15 as stocks rallied.
• U.S. Dollar (/DX) – The dollar is up 0.2% to 98.9.

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

1. The Trade Desk (TTD): +21.22%
2. Broadcom (AVGO): +6.19%
3. Fastenal (FAST): +2.84%
4. Amphenol (APH): +2.56%
5. Robinhood (HOOD): +2.48%

1. Corning (GLW): -3.55%
2. Allstate (ALL): -1.02%
3. AMD (AMD): -1.00%
4. Morgan Stanley (MS): -0.94%
5. Marriott (MAR): -0.88%

Economic Data

• 7:30 AM ET: Challenger Job Cut Report
• 8:30 AM ET: Jobless Claims, Productivity & Costs (Delayed), Import/Export Prices (Delayed)
• 10:30 AM ET: Natural Gas Inventories
• 1:15 PM ET: Fed’s Bowman Speaks

Notable Earnings

• Premarket: BILI, BJ, BURL, CNQ, CIEN, JD, KR, TTC, VSCO
• Postmarket: COO, COST, GAP, GPRO, GWRE, MRVL, PBR
• Premarket Tomorrow: GCO
• Postmarket Tomorrow: None

Upgrades/Downgrades

• Erste Group upgrades Meta Platforms (META) to Buy from Hold
• Scotiabank upgrades MongoDB (MDB) to Outperform from Sector Perform
• Benchmark upgrades Penn Entertainment (PENN) to Buy from Hold
• Arete downgrades Meta Platforms (META) to Neutral from Buy
• Erste Group downgrades Walmart (WMT) to Hold from Buy
• Rothschild & Co. Redburn downgrades American Airlines (AAL) to Neutral from Buy

This material is intended for informational purposes only and should not be considered a personalized recommendation or investment advice. Investors should review investment strategies for their own particular situations before making any decisions.

Schwab Network is brought to you by Charles Schwab Media Productions Company (“CSMPC”). CSMPC is a subsidiary of The Charles Schwab Corporation and is not a financial advisor, registered investment advisor, broker-dealer, or futures commission merchant.

Charles Schwab Media Productions Company and all third parties mentioned are separate and unaffiliated, and are not responsible for one another's policies, services or opinions.

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.