U.S. stock futures are mixed in premarket trading with the benchmark S&P 500 (SPX) and tech-heavy Nasdaq-100 (NDX) leading to the upside.

The Nvidia (NVDA) effect is supporting gains after the chipmaker posted another earnings beat and forecast strong revenue growth. The chipmaker’s fiscal second-quarter revenue more than doubled, and the stock, rising in pre-market trading, is set to break its recent pattern of declines despite stronger-than-anticipated earnings reports.

Also supporting the tech gains are CrowdStrike (CRWD) and Salesforce (CRM), which are rising after posting earnings beats. Oil prices are relatively flat at roughly $82 per barrel on speculation talks between Iran and Qatar may open the key Strait of Hormuz and reduce supply disruptions from ​the Middle East war.

Investor focus will be on earnings fallout today along with economic data ahead of Fed Chair Warsh’s speech tomorrow morning at the Jackson Hole symposium. 

Snapshot (as of 8 AM ET)

• Oil (/CL) – Oil futures are up 0.24% to $82.42 per barrel
• Gold (/GC) – Gold futures are down 0.12% to 4,652.80 per ounce
• Bitcoin (/BTC) – The cryptocurrency futures are up 1.27% to 79,515
• VIX (/VIX) – The CBOE Volatility Index is down 1.84% to 14.93
• U.S. Dollar ($DXY) – The dollar index is up 0.05% to 99.217

Big Premarket Movers (as of 8 AM ET)

Advancers:

• Salesforce (CRM) 10.45%
• CrowdStrike Holdings (CRWD) 9.05%
• Dollar General (DG) 7.63%
• Veeva Systems (VEEV) 7.08%
• NVIDIA (NVDA) 6.03%

Decliners:

• HP (HPQ) -13.50%
• Dollar Tree (DLTR) -6.57%
• Moderna (MRNA) -3.28%
• Best Buy (BBY) -2.45%
• Merck & Co. (MRK)-1.69%

Economic Data (ET)

• 8:30 AM: Jobless Claim
• 8:30 AM: International Trade in Goods
• 4:30 PM: Retail/Wholesale Inventories
• 10:30 AM: EIA Natural Gas Inventories
• 11:00 AM: Kansas City Fed Manufacturing Index
• 1:00 PM: 7-Year Note Auction
• 4:30 PM: Fed Balance Sheet

Notable Earnings

• Premarket: BBY, BILI, BURL, CSIQ, DG, DLTR, HQY, HRL, RY, TD, TITN
• Postmarket: AFRM, ADSK, ESTC, GAP, IREN, MRVL, PD, RBRK, S, ULTA, WDAY
• Premarket Friday: N/A
• Postmarket Friday: N/A

Upgrades/Downgrades

• BofA upgrades Okta (OKTA) from Underperform to Neutral
• Baird upgrades Synopsys (SNPS) from Neutral to Outperform
• Citi upgrades SQM (SQM) from Neutral to Buy
• Citi downgrades Abercrombie & Fitch (ANF) from Buy to Neutral
• Deutsche Bank downgrades Novo Nordisk (NVO) from Hold to Sell
• Deutsche Bank downgrades Celsius Holdings (CELH) from Buy to Hold

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, futures commission merchant or forex dealer member.

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.