Stocks Lower Premarket, Microsoft Upgraded

U.S. stock futures are slightly lower in premarket trading as traders grapple with higher Yields and Oil at elevated levels.
The moves come after solid gains for stocks on Friday but mixed markets last week. The benchmark S&P 500 (SPX) was down 0.3% and the Dow Industrial Average fell 1.3% last week but the tech-heavy Nasdaq-100 (NDX) rose 0.7% and hit a record high.
Powering the tech trade last week was Nvidia (NVDA), which rallied 4% last week and hit a fresh all-time high on Friday. Friday’s nonfarm payrolls data came in below expectations at 29,000 versus the 89,000 expected, but stocks rose as expectations fell for a rate hike at the FOMC later this month.
Investor focus today will remain on oil prices and yields along with services data.
Snapshot
- Oil (/CL) – Oil prices are down 0.9% near $90.26 per barrel as rising Middle East crude exports and a release of oil stocks by the Group of Seven nations boosted supplies
- Gold (/GC) – Gold futures are up 0.43% near $4,180.60 per ounce
- Bitcoin (/BTC) – The Crypto Future is up 2% near 86,350
- VIX – The CBOE Volatility Index is up 5.5% to 16.15
- U.S. Dollar ($DXY) – The dollar index is up 0.28% to 102.17
Big Premarket Movers
Advancers:
- PTC Inc (PTC) +36.00%
- Vistra Corp (VST) +4.09%
- Autodesk Inc (ADSK) +3.77%
- Coinbase Global Inc (COIN) +2.63%
- Estee Lauder Companies Inc (EL) +2.59%
Decliners:
- C.H. Robinson Worldwide Inc (CHRW) -5.31%
- Intel Corp (INTC) -4.04%
- Advanced Micro Devices Inc (AMD) -1.06%
- KLA Corp (KLAC) -0.80%
- Teradyne Inc (TER) -0.68%
Economic Data (ET)
- 9:45 AM: PMI Composite – Final
- 10:00 AM: ISM Services Index
- 11:30 AM: 3 and 6-Month Bill Auctions
Notable Earnings
- Premarket: N/A
- Postmarket: N/A
- Premarket Tuesday: APOG, LW, RPM
- Postmarket Tuesday: STZ, PENG, WS
Upgrades/Downgrades
Upgrades:
- Melius Research upgrades Microsoft (MSFT) from Hold to Buy
- BofA upgrades DraftKings (DKNG) from Neutral to Buy
- Barclays upgrades Estee Lauder (EL) from Equal Weight to Overweight
- Morgan Stanley upgrades Wells Fargo (WFC) from Equal Weight to Overweight
- Evercore ISI upgrades Texas Roadhouse (TXRH) from In Line to Outperform
- Citi upgrades Harley-Davidson (HOG) from Neutral to Buy
- JPMorgan upgrades Ryder (R) from Neutral to Overweight
Downgrades:
- Evercore ISI downgrades Align Technology (ALGN) from Outperform to In Line
- Raymond James downgrades HubSpot (HUBS) from Outperform to Market Perform
- RBC Capital downgrades Mosaic (MOS) from Outperform to Sector Perform
- Morgan Stanley downgrades AutoNation (AN) from Overweight to Equal Weight, and Group 1 Automotive (GPI) from Equal Weight to Underweight
- UBS downgrades O-I Glass (OI) from Buy to Neutral
For this week's economic and earnings calendar. see: Week Ahead: FOMC Minutes Kick Off Final Quarter of 2026
Also see: Week in Review: 10 Interviews on Markets, Rates, AI, and Volatility
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