Tech Leads Pre-Market Trading
Markets are higher this morning with tech-heavy Nasdaq 100 futures (/NQ) leading the way as traders prepare for the Fed’s April minutes, and Nvidia (NVDA) earnings after the closing bell.
Iran says it would retaliate beyond the Middle East if the U.S. or Israel renew attacks. Crude oil futures (/CL) are down roughly -2%.
It’s a big week for retail earnings with Target (TGT) and Lowe’s (LOW) both beating on the top and bottom lines, and results from Walmart (WMT) coming tomorrow. Today’s economic calendar also includes speeches from Fed presidents Paulson and Barr. Other earnings reports include Analog Devices (ADI), TJX Companies (TJX), and Intuit (INTU).
Snapshot (as of 7 AM ET)
- Oil (/CL) – Oil prices are down 2.55% to $101.49
- Gold (/GC) – Gold futures are down -0.34% to 4,496
- Bitcoin (/BTC) – The cryptocurrency futures are up 0.95% to 77,565
- VIX – The CBOE Volatility Index is down 0.5% to 17.97
- U.S. Dollar (/DX) – The dollar is slightly higher at 99.30
Biggest Premarket Winners
- Intel Corp (INTC) 5.06%
- Vistra Corp (VST) 3.89%
- NRG Energy Inc (NRG) 3.61%
- Constellation Energy (CEG) 3.47%
- TJX Companies Inc (TJX) 3.46%
Biggest Premarket Losers
- Keysight Technologies (KEYS) -2.07%
- Lowes Companies Inc (LOW) -2.01%
- ServiceNow Inc (NOW) -1.13%
- CrowdStrike Holdings Inc (CRWD) -1.02%
- Occidental Pete Corp (OXY) -1.00%
Economic Data
- 7:00 AM ET: MBA 30-Year Mortgage Rate
- 9:15 AM ET: Fed Barr Speech
- 10:30 AM ET: EIA Crude Oil Stocks Change
- 10:30 AM ET: EIA Gasoline Stocks Change
- 2:00 PM ET: FOMC Minutes
Notable Earnings
- Premarket Today: ADI, TJX, LOW, TGT, HAS, VFC
- Postmarket Today: NVDA, INTU, NDSN, URBN, ELF
- Premarket Tomorrow: WMT, DE, NTES, BMO, AAP
- Postmarket Tomorrow: ROST, TTWO, WDAY, CPRT, ZM, DECK
Analyst Upgrades:
- Humana: Upgraded to Buy from Hold (Deutsche Bank)
- Packaging Corp.: Upgraded to Buy from Neutral (UBS)
- C.H. Robinson: Upgraded to Buy from Hold (Jefferies)
Analyst Downgrades:
- Cigna: Downgraded to Hold from Buy (Deutsche Bank)
- Newell Brands: Downgraded to Underweight from Equal Weight (Morgan Stanley)
- Northern Oil and Gas: Downgraded to Hold from Accumulate (Johnson Rice)
