U.S. stock futures are relatively flat in premarket trading as Treasury Yields eased.

The moves come after the S&P 500 (SPX) and Dow Industrial Index ($DJI) snapped a three-session losing streak on Wednesday as stocks rose. The benchmark 10-year U.S. Treasury yield is at 4.78% after hitting 4.818% yesterday, which was the highest level since November 2023.

Oil futures (/CL) are up roughly 2% to near $93 a barrel after hitting the highest level since July 23 overnight.

On the corporate front, shares of Snowflake (SNOW) are up more than 20% in premarket trading after beating earnings expectations on heavy acceleration in AI-driven consumption. Broadcom (AVGO) shares are down more than 2%; its earnings beat expectations, but current-quarter revenue expectations came in a bit light. Investor focus today will be on oil, yields and economic data including the ISM services index.

Snapshot (as of 8 AM ET)

• Oil (/CL) – Oil futures are up 2.1% to $92.94 per barrel
• Gold (/GC) – Gold futures are up 1.7% to 4,487.70 per ounce
• Bitcoin (/BTC) – The cryptocurrency futures are up 0.76% to 78,170
• VIX (/VIX) – The CBOE Volatility Index is up 1.38% to 15.41
• U.S. Dollar ($DXY) – The dollar index is down 0.46% to 99.134

Big Premarket Movers (as of 8 AM ET)

Advancers

• Datadog (DDOG) 5.62%
• ServiceNow (NOW) 2.73%
• Robinhood Markets (HOOD) 2.57%
• Principal Financial Group (PFG) 1.97%
• CrowdStrike Holdings (CRWD) 1.81%

Decliners

• NetApp (NTAP) -8.17%
• Hewlett Packard Enterprise (HPE) -4.21%
• Broadcom (AVGO) -3.49%
• Moderna (MRNA) -2.69%
• Super Micro Computer (SMCI) -1.78%

Economic Data (ET)

• 5:30 AM: Challenger Job-Cut Report
• 8:30 AM: Jobless Claims
• 8:30 AM: International Trade in Goods & Services
• 8:30 AM: Productivity and Costs
• 8:30 AM: Fed’s Waller Speaks
• 9:45 AM: PMI Composite – Final
• 10:00 AM: ISM Services Index
• 10:30 AM: EIA Natural Gas Inventories
• 3:00 PM: Fed’s Hammack Speaks
• 4:30 PM: Fed Balance Sheet

Notable Earnings

• Premarket: DOO, CIEN, DLTH, GCO, LE, CPB, TTC, VSXY
• Postmarket: AMBA, DOCU, GWRE, LULU, OXM, PL, IOT, CURV, PATH, ZS
• Premarket Friday: N/A
• Postmarket Friday: N/A

Upgrades/Downgrades

• Macquarie upgrades Broadcom (AVGO) from Neutral to Outperform
• Fox Advisors upgrades Dell Technologies (DELL) from Equal-Weight to Outperform
• Evercore ISI upgrades CNH Industrial (CNH) and Deere (DE) from In Line to Outperform
• JPMorgan upgrades Copart (CPRT) from Neutral to Overweight
• TBA downgrades Truist downgrades PG&E (PCG) from Buy to Hold
• Rothschild & Co Redburn downgrades Moderna (MRNA) from Neutral to Sell
• JPMorgan downgrades ZTO Express (ZTO) from Overweight to Neutral
• JPMorgan and ISI downgrade Ultragenyx (RARE) from Overweight to Neutral
• and Outperform to In Line, respectively

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.

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