U.S. stock futures are flat ahead of the Wall Street open after the S&P 500 and Nasdaq-100 finished lower on Tuesday. Traders rotated out of tech names yesterday and pushed into beaten down healthcare, staples and small-cap stocks.

Investor focus today will be on Private Payrolls data along with financial stocks after many in the sector lifted their dividends and announced buybacks after the results from the stress tests.

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil futures are up 1.3% near $66.20 a barrel as investors are on alert ahead of a meeting of major producers to determine output levels for August.
• Gold (/GC) – Gold prices are relatively flat near $3355 as investors awaited Private Payroll data and assessed Federal Reserve Chair Jerome Powell’s cautious stance on rate cuts, although a firm dollar helped limit losses for greenback-priced bullion.
• Bitcoin (/BTC) – The Crypto Future is up over 2% above $108K in the premarket.
• VIX – The CBOE Volatility Index rose 0.6% on Tuesday and settled at 16.83 as stocks were mixed.
• U.S. Dollar (/DX) – The dollar is up 0.2% to around 96.7.

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

1. Coinbase (COIN): +1.78%
2. Albemarle (ALB): +1.49%
3. Devon Energy (DVN): +1.38%

1. Centene (CNC): -28.58%
2. Molina Healthcare (MOH): -6.95%
3. Elevance Healthcare (ELV): -3.48%

Economic Data

• Motor Vehicle Sales
• 7:00AM ET: MBA Mortgage Applications
• 7:30AM ET: Challenger Job Cut Report
• 8:15AM ET: ADP Employment Report
• 10:30AM ET: Oil Inventories

Notable Earnings

• Premarket: UNF
• Postmarket: None
• Premarket Tomorrow: None
• Postmarket Tomorrow: None

Upgrades/Downgrades

• Jefferies upgrades Apple (AAPL) to Hold from Underperform
• UBS upgrades Altria Group (MO) to Neutral from Sell
• Jefferies upgrades Ross Stores (ROST) to Buy from Hold
• UBS downgrades Centene (CNC) to Neutral from Buy
• Redburn downgrades Adobe (ADBE) to Sell from Neutral
• Baird downgrades KeyCorp (KEY) to Neutral from Outperform

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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.