U.S. stock futures are slightly higher in premarket trading and attempting to rebound after Monday’s sell-off. Equities slumped Monday on renewed fears of artificial intelligence disruptions to various industries. President Donald Trump’s threat to hike global tariffs to 15% and tensions between the U.S. and Iran also kept traders on edge.

A global 10% U.S. tariff took effect Tuesday. However, Bloomberg News reported, citing an administration official, that the White House was moving forward with a formal increase to 15%.

While tech was under pressure again on Monday, financials also took a hit on the back of potential AI disruptions. On the earnings front, shares of Home Depot (HD) are up over 2% after beating estimates this morning. Investor focus will continue to be on earnings with Nvidia’s (NVDA) results due after the closing bell tomorrow.

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil prices are up 0.5% to over $66.50 a barrel, with traders assessing risks to supply from any military escalation as another round of U.S.-Iran nuclear talks loomed.
• Gold (/GC) – Gold prices are down almost 1% near $5175, easing from a three-week high hit overnight, as a stronger dollar and profit taking weighed on prices while investors awaited clarity ⁠on ‌U.S. President Donald Trump’s tariff plans.
• Bitcoin (/BTC) – The Crypto Future is down over 2% near 63,000 in premarket trading.
• VIX – The CBOE Volatility Index was up 10% on Monday and settled at 21.01 as stocks were sharply lower.
• U.S. Dollar (/DX) – The dollar is up 0.2% to 97.9.

Biggest Premarket Movers (as of 7 AM ET - Mark % Change)

1. Keysight Technologies (KEYS): +13.10%
2. AMD (AMD): +10.05%
3. Arista Networks (ANET): +5.16%
4. SanDisk (SNDK): +3.55%
5. Corning (GLW): +2.32%

1. Eli Lilly (LLY): -2.23%
2. Palantir (PLTR): -1.97%
3. Broadcom (AVGO): -1.86%
4. Coinbase (COIN): -1.78%
5. Diamondback Energy (FANG): -1.62%

Economic Data

• 8:00 AM ET: Fed’s Goolsbee Speaks
• 9:00 AM ET: Case-Shiller Home Price Index, FHFA House Price Index, Fed’s Bostic/Collins Speak
• 9:15 AM ET: Fed’s Waller/Cook Speak
• 10:00 AM ET: Consumer Confidence, Richmond Fed Mfg. Index
• 1:00 PM ET: 2-Year Note Auction
• 3:15 PM ET: Fed’s Barkin Speaks

Notable Earnings

• Premarket: AS, AMT, BNS, BCC, DOCN, ELAN, EXPD, FIS, HSIC, HD, KDP, NRG, PLNT, PTLO, WLK
• Postmarket: AMC, CWH, CAVA, CSGP, EOG, FSLR, FLYW, GDDY, HPQ, LCID, MQ, MELI, MOS, RRC, RVLV, TEM, TREX, WDAY, ZETA
• Premarket Tomorrow: BMO, BLMN, CRCL, DIN, HSBC, LOW, OC, PLAB, TBLA, TJX, TPH
• Postmarket Tomorrow: A, APA, ARRY, BJRI, AI, CHDN, EHTH, FTAI, GDRX, IMAX, JOBY, NOG, NU, NTNX, NVDA, PSTG, RRGB, CRM, SNOW, SNPS, TDOC, TKO, TTD, TCOM, UHS, URBN, ZIP, ZM

Upgrades/Downgrades

• Wells Fargo upgrades Qualcomm (QCOM) to Equal Weight from Underweight
• JPMorgan upgrades Domino’s Pizza (DPZ) to Overweight from Neutral
• Raymond James double upgrades Genuine Parts (GPC) to Strong Buy from Market Perform
• BNP Paribas downgrades Comcast (CMCSA) to Underperform from Neutral
• JPMorgan downgrades Novo Nordisk (NVO) to Neutral from Overweight
• Deutsche Bank downgrades Blue Owl Capital (OWL) to Hold from Buy

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