U.S. stock futures are modestly higher in premarket trading as oil prices pulled back from overnight highs in response to the latest news of military exchanges between the U.S. and Iran.

Last week, stocks took a hit. The four leading U.S. indexes closed in the red last week, as pressure on chip stocks weighed on overall sentiment. Crude oil futures were down 0.3% to near $81.55 per barrel. This comes after Iran’s Foreign Ministry spokesman Esmail Baghaei said negotiations with the U.S. could be pursued based on national interests despite nine straight days of attacks by the U.S. on Iran.

Along with geopolitical tensions, investor focus this week will be on earnings. Quarterly reports are due from 15% of S&P 500 Companies this week, including reports from Alphabet (GOOGL), International Business Machines (IBM), Tesla (TSLA), and Intel (INTC).

Snapshot (as of 8 AM ET)

• Oil (/CL) – Oil futures are down 0.3% to $81.55 per barrel
• Gold (/GC) – Gold futures are up 0.34% per ounce to 4,032.90
• Bitcoin (/BTC) – The cryptocurrency futures are up 1.21%to 65,045
• VIX (/VIX) – The CBOE Volatility Index is down 4.37% to 17.95
• U.S. Dollar ($DXY) – The dollar index is up 0.03% to 100.797

Biggest Premarket Movers (as of 8 AM ET)

Advancers:

• Domino's Pizza (DPZ) 7.41%
• Micron Technology (MU) 5.13%
• SanDisk (SNDK) 4.66%
• Western Digital (WDC) 4.36%
• Advanced Micro Devices (AMD) 3.69%

Decliners:

• Monster Beverage (MNST) -1.54%
• Occidental Petroleum (OXY) -1.46%
• Intuit (INTU) -1.41%
• Workday (WDAY) -1.28%
• ServiceNow (NOW) -1.21%

Economic Data (ET)

• 10:00 AM: Leading Economic Indicators
• 11:30 AM: 3- and 6-Month Bill Auctions 

Notable Earnings

• Premarket: DPZ, DX, AMC
• Postmarket: CCK, STLD, WRB, WTFC, ZION
• Premarket Tuesday: MMM, ALLY, SCHW, DHI, DHR, EFX, GM, GPC, HAL, HAS, KEY, MRSH, MSCI, NOC, NVS, SYF, VMI
• Postmarket Tuesday: ALK, COF, CB, EQT, IBKR, PEGA, RRC, WAL

Upgrades/Downgrades

• Phillip Securities upgrades, Netflix (NFLX) from Accumulate to Buy
• Freedom Capital upgrades Nebius (NBIS) from Hold to Buy
• JPMorgan upgrades U.S. Bancorp (USB) from Underweight to Neutral
• Deutsche Bank downgrades Monster Beverage (MNST) from Buy to Hold
• Wells Fargo downgrades HubSpot (HUBS) from Overweight to Equal Weight
• Seaport Research downgrades Birkenstock (BIRK) from Buy 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.