U.S. stock futures are higher ahead of the Wall Street open as bond yields kept moving higher and oil prices are at five-week highs.

The moves come after the major indices sold off on Tuesday as geopolitical risks expanded and inflationary pressures rose. The benchmark U.S. 10-year Treasury note yield hit a high of 4.814% on the day, its highest level since November 2023.

Yields have risen on fears inflation could increase due to higher oil prices with WTI crude near $89 a barrel this morning. On the corporate front, Dell Technologies (DELL) shares are up nearly 9% after posting an earnings beat as strong demand for its AI-optimized servers powered the stock.

On the flipside, shares of Palo Alto Networks (PANW) and MongoDB (MDB) are down despite beating earnings estimates after yesterday’s close. Investor focus remains on rising yields and elevated oil prices along with earnings fallout and ADP employment

On the flipside, shares of Palo Alto Networks (PANW) and MongoDB (MDB) are down despite beating earnings estimates after yesterday’s close. Investor focus remains on rising yields and elevated oil prices along with earnings fallout and ADP employment data today.

Snapshot (as of 8 AM ET)

• Oil (/CL) – Oil futures are down roughly 1% $89.27 per barrel
• Gold (/GC) – Gold futures are down 0.36% to 4,380.30 per ounce
• Bitcoin (/BTC) – The cryptocurrency futures are down 0.74% to 76,970
• VIX (/VIX) – The CBOE Volatility Index is down 1.3% to 16.09
• U.S. Dollar ($DXY) – The dollar index is up 0.07% to 99.748

Big Premarket Movers (as of 8 AM ET)

Advancers

• Dell Technologies (DELL) 8.72%
• Hewlett Packard Enterprise (HPE) 3.79%
• Uber Technologies (UBER) 1.86%
• Newmont (NEM) 1.69%
• Carnival (CCL) 1.38%

Decliners

• Datadog (DDOG) -2.61%
• Moderna (MRNA) -2.21%
• ServiceNow (NOW) -2.17%
• Marvell Technology (MRVL) -1.61%
• Workday (WDAY) -1.44%

Economic Data (ET)

• 7:00 AM: MBA Mortgage Applications 
• 8:15 AM: ADP Employment Report
• 10:00 AM: Factory Orders
• 10:30 AM: EIA Oil Inventories
• 2:00 PM: Beige Book

Notable Earnings

• Premarket: BF/B, GIII, OLLI, CXM
• Postmarket: AVGO, AI, CHPT, FIVE, GOLD, HPE, NTAP, WOOF, PVH, SNOW
• Premarket Thursday: DOO, CIEN, DLTH, GCO, LE, CPB, TTC, VSXY
• Postmarket Thursday: AMBA, DOCU, GWRE, LULU, OXM, PL, IOT, CURV, PATH, ZS

Upgrades/Downgrades

• William Blair upgrades GitLab (GTLB) from Underperform to Market Perform
• JPMorgan upgrades Martin Marietta (MLM) from Neutral to Overweight
• Deutsche Bank upgrades Sirius XM (SIRI) from Hold to Buy
• BNP Paribas downgrades Toast (TOST) from Outperform to Neutral
• JPMorgan downgrades Nio (NIO) from Overweight to Neutral

Economic and Earnings Calendars

For this week's economic and earnings calendars, see Week Ahead: Big Week for Economic Data and Tech Earnings

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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.