U.S. stock futures are slightly higher in premarket trading helped by gains in Nvidia (NVDA) after falling yesterday.

The moves come after Nvidia (NVDA) fell over 4% on Thursday after co-founder Jensen Huang stepped down as CEO following reported extramarital affairs, including a relationship with a woman U.S. intelligence officials allege is a Chinese spy. Yields continue to rise with the benchmark 10-year Treasury at three-week highs near 5.13%.

The U.S. dollar is also rising and is at over one and half year highs this morning. Investor focus will continue to be on tech and Nvidia shares along with the PPI inflation report that is due this morning.

Snapshot

• Oil (/CL) – Oil futures are down 0.08% to $88.67 per barrel
• Gold (/GC) – Gold futures are up 0.23% to $3,893.60 per ounce
• Bitcoin (/BTC) – The cryptocurrency futures are down 3.05% to 69,325
• VIX (/VIX) – The CBOE Volatility Index is down 1.5% to 18.42
• U.S. Dollar ($DXY) – The dollar index is up 0.10% to 103.275

Big Premarket Movers

Advancers

• The Travelers Companies Inc. (TRV) +3.68%
• Palo Alto Networks Inc. (PANW) +3.18%
• Jabil Inc. (JBL) +3.09%
• CrowdStrike Holdings Inc. (CRWD) +2.48%
• Okta Inc. (OKTA) +2.45%

Decliners

• Cisco Systems Inc. (CSCO) -3.64%
• PPG Industries Inc. (PPG) -2.57%
• Advanced Micro Devices Inc. (AMD) -2.57%
• Broadcom Inc. (AVGO) -2.16%
• Coinbase Global Inc. (COIN) -2.14%

Economic Data (ET)

• 8:30 AM: PPI
• 9:10 AM: Fed’s Collins Speaks
• 9:40 AM: Fed’s Logan Speaks
• 10:30 AM: EIA Natural Gas Inventories
• 10:35 AM: Fed’s Collins Speaks
• 10:50 AM: Fed’s Bowman Speaks
• 12:00 PM: Fed’s Daly Speaks

Notable Earnings

• Premarket: N/A
• Postmarket: N/A
• Premarket Monday: ARMK, BEKE, BIDU, IQ, TSN, XPEV
• Postmarket Monday: ACM, PAGS, XP

Upgrades/Downgrades

Upgrades:

• KeyBanc upgrades Palo Alto Networks (PANW) from Sector Weight to Overweight
• Loop Capital upgrades Autodesk (ADSK) from Hold to Buy
• Baird upgrades Domino’s Pizza (DPZ) from Neutral to Outperform

Downgrades:

• Rothschild & Co Redburn downgrades Broadcom (AVGO) from Buy to Neutral
• Stifel downgrades Lowe’s (LOW) from Hold to Sell
• Summit Insights downgrades Applied Materials (AMAT) from Buy to Hold
• Deutsche Bank downgrades Cognizant (CTSH) from Buy to Hold
• Piper Sandler downgrades Yeti (YETI) from Overweight to Neutral
• Evercore ISI downgrades Tractor Supply (TSCO) from Outperform to In Line

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