U.S. stock futures are mixed pre-market after Wednesday’s election rally that sent the sharply higher.

Today’s moves come after a rally Wednesday that sent the Dow ($DJI) and S&P 500 (SPX) sharply higher as investors absorbed the market consequences including the regulatory outlook following the election.

Earnings are due for today from Airbnb (ABNB), Cloudflare (NET), Affirm (AFRM), Cigna (CI), and more including ConocoPhillips (COP). WTI crude oil was up about 1.5% to near $89.50 per barrel in recent trading, after a steep drop Wednesday.

The Bank of England raised its main interest rate by a quarter-point to 4% in its first rate hike in three years and warned that at least one more increase was likely if the U.S.-Iran war continues and keeps energy prices high. Today’s economic data includes weekly jobless claims as well as productivity and costs.

Snapshot

• Oil (/CL) – Oil futures are up 1.5% to $89.53 per barrel
• Gold (/GC) – Gold futures are up 1.4% to $4,129.20 per ounce
• Bitcoin (/BTC) – The cryptocurrency futures are down 0.5% to 79,925
• VIX (/VIX) – The CBOE Volatility Index is up 2% to 16.96
• U.S. Dollar ($DXY) – The dollar index is up 0.05% to 101.614

Big Premarket Movers

Advancers

• AppLovin (APP) 19.60%
• Tapestry (TPR) 12.52%
• Parker-Hannifin (PH) 7.33%
• Verisk Analytics (VRSK) 6.65%
• First Solar (FSLR) 4.14%

Decliners

• Qualcomm (QCOM) -9.98%
• Amcor (AMCR) -9.57%
• Expedia Group (EXPE) -7.88%
• Rockwell Automation (ROK) -7.41%
• Fair Isaac (FICO) -7.28%

Economic Data (ET)

• 08:30 AM: Weekly Jobless Claims
• 08:30 AM: Productivity and Costs

Notable Earnings

• Premarket: CI, COP, KMB, RL, ROK, SHAK, TPR
• Postmarket: ABNB, AFRM, AKAM, CART, LITE, LYFT, LYV, NET, TEAM, WYNN
• Premarket Friday: CHTR, HUM, MRNA, OKLO
• Postmarket Friday: N/A

Upgrades/Downgrades

Upgrades:

• Deutsche Bank upgrades JetBlue (JBLU) and Frontier Group (ULCC) from Hold to Buy
• Canaccord upgrades Joby Aviation (JOBY) from Hold to Buy
• William Blair upgrades First Solar (FSLR) from Market Perform to Outperform
• Fox Advisors upgrades Corning (GLW) from Equal-Weight to Outperform
• Compass Point upgrades Circle Internet (CRCL) from Neutral to Buy

Downgrades:

• Morgan Stanley downgrades Cisco (CSCO) from Overweight to Equal Weight
• Truist downgrades Nike (NKE) from Hold to Sell
• BofA downgrades FIS (FIS) from Buy to Neutral
• RBC Capital downgrades FIS (FIS) from Outperform to Sector Perform
• Morgan Stanley downgrades HubSpot (HUBS) from Overweight to Equal Weight
• Cantor Fitzgerald downgrades HubSpot (HUBS) from Neutral to Underweight
• KeyBanc downgrades HubSpot (HUBS) from Overweight to Sector Weight
• BTIG downgrades HubSpot (HUBS) from Buy to Neutral
• Barclays downgrades Skyworks (SWKS) from Overweight to Equal Weight

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.