U.S. stock futures are slightly higher in premarket trading following a winning session on Monday.

Tech led gains to start the week with traders looking ahead to more corporate earnings and the start of a Federal Reserve two-day policy meeting. Chip stocks were leaders Monday as Anthropic’s IPO filing revived enthusiasm for the artificial intelligence trade. 

Investors will digest a slew of third-quarter earnings reports. Coca-Cola (KO), Boeing (BA), Visa (V), and Corning (GLW) report ahead of the opening bell.

The Fed kicks off its latest monetary policy meeting today and is expected to keep rates in the 3.75% - 4% range. While the central bank is expected to keep rates unchanged, traders will look for clues on whether another rate hike will take place before year-end. Economic data will also be in focus with reports due on durable goods orders, housing, and consumer confidence.

Snapshot

• Oil (/CL) – Oil futures are down 0.7% to near $101 per barrel, driven by renewed diplomatic efforts to end the U.S.-Iran war
• Gold (/GC) – Gold futures are down 0.36% near $4,023 per ounce, weighed down by a firmer U.S. dollar
• Bitcoin (/BTC) – The cryptocurrency future is down 0.19% to 79,750
• VIX (/VIX) – The CBOE Volatility Index is down 2.8% to 17.87
• U.S. Dollar ($DXY) – The dollar index is up 0.26% to 102.227

Big Premarket Movers

Advancers:

• Johnson Controls International (JCI) 4.37%
• Royal Caribbean Cruises (RCL) 4.06%
• Bloom Energy (BE) 3.80%
• Flex (FLEX) 3.65%
• S&P Global (SPGI) 3.35%

Decliners:

• Xylem (XYL) -7.49%
• Hubbell (HUBB) -5.16%
• Sherwin-Williams (SHW) -4.66%
• Hilton Worldwide (HLT) -4.58%
• Moderna (MRNA) -3.19%

Economic Data (ET)

• FOMC Meeting Begins
• 08:30 AM: Durable Goods Orders
• 9:00 AM: Case-Shiller Home Price Index
• 9:00 AM: FHFA House Price Index
• 10:00 AM: Consumer Confidence
• 10:00 AM: New Home Sales
• 10:00 AM: Richmond Fed Mfg. Index
• 1:00 PM: 5-Year Note Auction

Notable Earnings

• Premarket: AIT, AMT, AWI, BA, CMS, CNC, FCX, GLW, GLXY, HCA, HLT, HRI, IQV, JBLU, JCI, KO, NVS, PCAR, PII, PNR, PYPL, RCL, RGEN, SHW, SOFI, SPGI, TNL, TRU, UPS, XYL
• Postmarket: BBAI, BKR, CAKE, CR, CSGP, CZR, ENPH, EQT, EXE, FFIV, ICLR, LOGI, LSTR, LU, NBR, NOV, NXPI, OI, PPG, RNR, RRC, SKHY, ST, STX, TER, UHS, V, VTR, WERN, WM, WPC
• Premarket Wednesday: ADP, AEP, AON, APH, AVTR, BIIB, BLCO, BSX, CHRW, CLH, DAN, DINO, EAT, EQNR, ETSY, EVR, FTV, GEHC, GEV, GNRC, GPI, GRMN, GSK, JLL, JMKE, LII, MAS, NI, ODFL, OTIS, PAG, PSN, PSX, STLA, TEX, UBS, ULCC, UMC, VFC, VRT, WING
• Postmarket Wednesday: AEM, ALGN, AR, AWK, BHC, CMG, CP, CVNA, EBAY, EQIX, F, FDX, FLS, FTNT, GEN, GOOGL, HONA, KGC, KLAC, MGM, MSFT, MTH, NOW, NXT, ORLY, PLXS, PPC, SFM, TDOC, TMUS, WEX

Upgrades/Downgrades

Upgrades:

• DA Davidson upgrades Broadcom (AVGO) from Neutral to Buy
• Citi upgrades MercadoLibre (MELI) from Neutral to Buy

Downgrades:

• William Blair downgrades Moderna (MRNA) from Outperform to Market Perform
• UBS downgrades HubSpot (HUBS) from Buy to Neutral
• Wolfe Research downgrades M&T Bank (MTB) from Peer Perform to Underperform, and Huntington Bancshares (HBAN) from Outperform to Peer Perform

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