U.S. stock futures are slightly higher in premarket trading as volatile oil prices and higher yields continue to lead markets.

Stocks fell slightly on Monday with little movement on a resolution in the Middle East. Oil prices are now flat near $82 a barrel and fell from overnight highs above $84. Pakistan’s defense minister says U.S.-Iran signals point toward a potential arrangement, with developments “shaking up in favor of peace.”

Yields are rising ahead of the opening bell with the benchmark 10-Year back above 4.7% ahead of the CPI inflation report tomorrow morning. Investor focus remains on geopolitical headlines today along with earnings and rising yields and oil prices.

Snapshot (as of 8 AM ET)

• Oil (/CL) – Oil futures are up 0.10% $82.22 per barrel
• Gold (/GC) – Gold futures are up 0.56% per ounce to 4,444.7
• Bitcoin (/BTC) – The cryptocurrency futures are up 0.55% to 64,470
• VIX (/VIX) – The CBOE Volatility Index is down 0.06% to 15.45
• U.S. Dollar ($DXY) – The dollar index is up 0.04% to 99.848

Biggest Premarket Movers (as of 8 AM ET)

Advancers:

• First Solar (FSLR) +3.01%
• Jabil (JBL) +2.55%
• Super Micro Computer (SMCI) +2.19%
• Applied Materials (AMAT) +2.10%
• KLA Corp. (KLAC) +2.03%

Decliners:

• Monster Beverage (MNST) -49.41%
• AppLovin (APP) -2.27%
• Airbnb (ABNB) -1.25%
• Intel (INTC) -1.20%
• Allstate (ALL) -0.99%

Economic Data (ET)

• 6:00 AM: NFIB Small Business Optimism Index
• 10:00 AM: Existing Home Sales
• 1:00 PM: 3-Year Note Auction

Notable Earnings

• Premarket: ARMK, CAH, HUYA, ONON, RXT, SE, TME, VG
• Postmarket: CAVA, CRWV, FLY, HRB, LITE, SMCI
• Premarket Wednesday: ALT, AMCR, EAT, GLBE, KTB, NBIS, TCEHY, WRD
• Postmarket Wednesday: CAE, CBRS, CSCO, COHR, GO, JACK, PAAS, RRGB, STUB, SPCE

Upgrades/Downgrades

• Argus upgrades Boeing (BA) from Hold to Buy
• Truist upgrades Best Buy (BBY) from Hold to Buy
• Barclays upgrades Abercrombie & Fitch (ANF) from Underweight to Equal Weight
• Barclays downgrades Under Armour (UAA) from Equal Weight to Underweight
• Phillip Securities downgrades Airbnb (ABNB) from Neutral to Reduce
• BofA downgrades AppLovin (APP) from Buy to Neutral

See Why Inflation Data This Week Matter with Stocks Near Record Highs

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