U.S. stock futures are higher in premarket trading after a strong week on Wall Street that drove the Dow Jones Industrial Average to record highs.

Tech is leading the gains after chip stocks took a hit on the first two days of July. Memory chip makers along with semiconductor equipment stocks dragged on tech as traders took profits and rotated into other sectors, including financials and healthcare last week.

Investor focus this week will be on the FOMC minutes on Wednesday afternoon along with ISM services data this morning.

Snapshot (as of 8 AM ET)

• Oil (/CL) – U.S. oil futures prices are down 0.47% to $68.36 per barrel
• Gold (/GC) – Gold futures are up 1% to 4,168.90
• Bitcoin (/BTC) – The cryptocurrency is up 0.86% to 62,185
• VIX – The CBOE Volatility Index is up 3.23% to 16.33
• U.S. Dollar ($DXY) – The dollar index is up 0.22% to 101.078

Biggest Premarket Movers (as of 8 AM ET)

Advancers:

• Western Digital (WDC) 5.06%
• SanDisk (SNDK) 4.91%
• KLA Corp. (KLAC) 4.51%
• Applied Materials (AMAT) 4.47%
• Lam Research (LRCX) 4.44%

Decliners:

• Datadog (DDOG) -3.79%
• Honeywell International (HON) -1.94%
• Constellation Brands (STZ) -1.59%
• Regions Financial (RF) -1.42%
• Moderna (MRNA) -1.42%

Economic Data (ET)

9:45 AM: PMI Composite - Final

10:00 AM: ISM Services Index

11:30 AM: 3 and 6-Month Bill Auctions

Notable Earnings

Premarket: n/a

Postmarket: n/a

Premarket Tuesday: n/a

Postmarket Tuesday: EPAC, PENG

Upgrades/Downgrades

• HSBC upgrades Gilead Sciences (GILD) from Hold to Buy
• Scotiabank upgrades Okta (OKTA) and SentinelOne (S) from Sector Perform to Outperform
• Goldman Sachs upgrades Murphy USA (MUSA) from Sell to Neutral
• Raymond James downgrades Delta Air Lines (DAL) from Strong Buy to Outperform, and JetBlue Airways (JBLU) from Market Perform to Underperform
• Bernstein downgrades Datadog (DDOG) from Outperform to Market Perform
• Baird downgrades Regions Financial (RF) from Neutral to Underperform; M&T Bank (MTB) and Citizens Financial Group (CFG) from Outperform to Neutral

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.

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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.