Equity index futures are flat to lower this morning after President Donald Trump said he would impose an “economic D-day” on Iran, sending crude oil futures higher.

Cryptocurrencies are on the move to the upside today after President Trump called on Congress to pass the Clarity Act and the U.S. Treasury Department said it will more than double repurchase s of 10-, 20- and 30-year debt in the next few months.

Meanwhile, U.S.-traded shares of Alibaba (BABA) are down after its earnings showed a 75% drop in profits due to AI spending. Walmart (WMT) is lower despite reporting earnings this morning that beat estimates and raising its outlook for the year. Discount retailer Ross Stores (ROST) reports results in today’s postmarket.

Thursday economic data includes Jobless Claims and the Philadelphia Fed Manufacturing Index.

Snapshot (as of 8 AM ET)

• Oil (/CL) – Oil futures are up 3.35% to $87.21 per barrel
• Gold (/GC) – Gold futures are down 0.49% per ounce to 4,523.1
• Bitcoin (/BTC) – The cryptocurrency futures are up 4.98% to 71,975
• VIX (/VIX) – The CBOE Volatility Index is up 4.23% to 15.52
• U.S. Dollar ($DXY) – The dollar index is down 0.06% to 98.771

Big Premarket Movers (as of 8 AM ET)

Advancers:

• Coinbase Global (COIN) 6.77%
• Robinhood Markets (HOOD) 5.10%
• Nordson (NDSN) 3.25%
• Crown Castle (CCI) 2.28%
• Deere & Co. (DE) 1.96%

Decliners:

• Moderna (MRNA) -7.33%
• Walmart (WMT) -5.82%
• Dollar General (DG) -2.76%
• CrowdStrike Holdings (CRWD) -2.54%
• AutoZone (AZO) -2.17%

Economic Data (ET)

• 08:30 AM: Jobless Claims
• 08:30 AM: Philadelphia Fed Manufacturing Index
• 10:00 AM: Leading Economic Indicators
• 04:30 PM: Fed Balance Sheet

Notable Earnings

• Premarket: WMT, BABA, DE, AAP
• Postmarket: ROST
• Premarket Friday: BJ
• Postmarket Friday: N/A

Upgrades/Downgrades

• Morgan Stanley upgrades Merck (MRK) from Equal Weight to Overweight
• Keefe Bruyette upgrades Progressive (PGR) from Market Perform to Outperform
• Bernstein upgrades Analog Devices (ADI) from Market Perform to Outperform
• RBC Capital downgrades Merck (MRK) from Outperform to Sector Perform
• Keefe Bruyette downgrades Allstate (ALL) from Market Perform to Underperform
• Citi and Gordon Haskett downgrade TJX (TJX) from Buy to Neutral, and from Buy to Accumulate, respectively

Featured Articles:

• Treasury Buybacks Send Yields, Rates, and Dollar Lower, Stocks Higher
• Where are Tech Growth Stories and What’s Next for Semiconductors?

This material is intended for informational purposes only and should not be considered a personalized recommendation or investment advice. Investors should review investment strategies for their own particular situations before making any decisions.

Schwab Network is brought to you by Charles Schwab Media Productions Company (“CSMPC”). CSMPC is a subsidiary of The Charles Schwab Corporation and is not a financial advisor, registered investment advisor, broker-dealer, futures commission merchant or forex dealer member.

Charles Schwab Media Productions Company and all third parties mentioned are separate and unaffiliated, and are not responsible for one another's policies, services or opinions.

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.