U.S. stock futures are falling in premarket trading as September trading kicks off in the red.

The moves come after solid gains for the major indices in August with the benchmark S&P 500 (SPX) up 2.6% and the Nasdaq-100 (NDX) up 4.2%. Weighing on stocks are rising oil prices and higher Treasury Yields. Crude is up more than 2% to near $88 a barrel after reports that a tanker was struck by projectiles while transiting the Strait of Hormuz overnight.

Global Yields have rallied with the benchmark 10-year Treasury hitting 4.78%, its highest level since January 2025. Investor focus today remains on oil and yields along with earnings after the close from Dell Technologies (DELL), Palo Alto Networks (PANW) and MongoDB (MDB). Economic data also picks up with ISM and PMI Manufacturing numbers along with Job openings for July.

Snapshot (as of 8 AM ET)

• Oil (/CL) – Oil futures are up 2.4% to $87.82 per barrel
• Gold (/GC) – Gold futures are down 1.33% to 4,422.40 per ounce
• Bitcoin (/BTC) – The cryptocurrency futures are down 1.22% to 78,275
• VIX (/VIX) – The CBOE Volatility Index is up 6.37% to 15.87
• U.S. Dollar ($DXY) – The dollar index is up 0.18% to 99.610

Big Premarket Movers (as of 8 AM ET)

Advancers:

• Medtronic (MDT) 4.91%
• Robinhood Markets (HOOD) 2.08%
• Humana (HUM) 1.77%
• Devon Energy (DVN) 1.42%
• Occidental Petroleum (OXY) 1.33%

Decliners:

• Marvell Technology (MRVL) -3.19%
• SanDisk (SNDK) -2.69%
• Intel (INTC) -2.60%
• Newmont (NEM) -2.43%
• Coinbase Global (COIN) -2.21%

Economic Data (ET)

• 9:05 AM: Fed’s Barr Speaks
• 9:45 AM: PMI Manufacturing – Final
• 10:00 AM: ISM Manufacturing Index
• 10:00 AM: JOLTS
• 10:00 AM: Construction Spending

Notable Earnings

• Premarket: MDT, NIO, SSL
• Postmarket: CRDO, DELL, GTLB, MDB, PANW, SPWH
• Premarket Wednesday: BF/B, GIII, OLLI, CXM
• Postmarket Wednesday: AVGO, AI, CHPT, FIVE, GOLD, HPE, NTAP, WOOF, PVH, SNOW

Upgrades/Downgrades

• Piper Sandler upgrades Akamai Technologies (AKAM) from Neutral to Overweight
• Jefferies upgrades Sempra (SRE) from Hold to Buy
• Evercore ISI upgrades Duolingo (DUOL) from In Line to Outperform
• BofA downgrades Edison International (EIX) and PG&E (PCG) from Buy to Neutral
• Morgan Stanley downgrades Miami International Holdings (MIAX) from Overweight to Equal Weight

Economic/Earnings Calendars, Week of Aug. 31:

Week Ahead: Big Week for Economic Data and Tech Earnings

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