U.S. stock futures are higher in premarket trading and extending yesterday’s rally.

Tech is leading to the upside after the Nasdaq-100 (NDX) rallied over 3% on Thursday. Amazon (AMZN) is up 11% after reporting better-than-expected second-quarter revenue but Apple (AAPL) is down 7% after missing service revenue. Despite this week’s volatility, the major averages are on track to finish higher.

Oil prices are modestly higher this morning near $84.83 per barrel as hostilities between the U.S. and Iran continue. Investor focus remains on geopolitical tensions and the price of oil into the end of the month.

Snapshot (as of 8 AM ET)

• Oil (/CL) – Oil futures are up 1.5% to $84.83 per barrel
• Gold (/GC) – Gold futures are down 1.2% per ounce to 4,111.0
• Bitcoin (/BTC) – The cryptocurrency futures are down 1.6% to 64,010
• VIX (/VIX) – The CBOE Volatility Index is down 0.8% to 16.95
• U.S. Dollar ($DXY) – The dollar index is up 0.47% to 100.337

Biggest Premarket Movers (as of 8 AM ET)

Advancers:

• Amazon.com (AMZN) 11.69%
• Monolithic Power Systems (MPWR) 10.62%
• Eaton (ETN) 8.56%
• DexCom (DXCM) 7.32%
• Coherent (COHR) 7.20%

Decliners

• GoDaddy (GDDY) -11.66%
• Apple (AAPL) -7.58%
• Stryker (SYK) -6.88%
• Moderna (MRNA) -5.04%
• Coinbase Global (COIN) -4.84%

Economic Data (ET)

• 8:30 AM: Employment Cost Index
• 9:45 AM: Chicago PMI
• 10:00 AM: Consumer Sentiment

Notable Earnings

• Premarket: ABBV, AN, BEP, CCJ, CBOE, CVX, CHD, CL, D, ETN, ENB, XOM, FTS, IMO, LEA, LIN, LYB, MRNA, NWL, TROW
• Postmarket: N/A
• Premarket Monday: CAN, CNH, L, MAR, SBH, SRAD, TSN
• Postmarket Monday: BWXT, CBT, CLX, FANG, JAZZ, OKE, ON, PLTR, SBAC, PAY, SNAP, TKO, VRTX, VNO, WHR, WMB

Upgrades/Downgrades

• DZ Bank upgrades Ford (F) to Hold from Sell
• Citi upgrades Baxter (BAX) to Neutral from Sell
• Deutsche Bank upgrades International Paper (IP) to Buy from Hold
• GF Securities downgrades Apple (AAPL) to Hold from Buy
• BTG downgrades Roblox (RBLX) to Sell from Neutral
• Argus downgrades Boston Scientific (BSX) to Hold from Buy

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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