U.S. stock futures are slightly higher in premarket trading following a volatile week for markets. Elevated valuations and falling expectations for a December rate cut from the Fed and rotation flows have added volatility this month despite an end to the government shutdown.

Investor focus turns to earnings and delayed economic data this week. Nvidia (NVDA) results on Wednesday after the close will be closely watched as it is the major component in the three major indexes.

Also on tap will be a look at the consumer with quarterly results due from Home Depot (HD), Target (TGT), and Walmart (WMT). On the data front, the delayed October payrolls report will be released on Thursday ahead of the opening bell.  

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil prices are flat near $60 a barrel after climbing more than 2% on Friday, boosted by supply fears after the Black Sea port of Novorossiysk halted oil exports following a Ukrainian drone attack that hit an oil depot in the major Russian energy hub.
• Gold (/GC) – Gold prices are down 0.3% near $4080 after falling over 2% Friday, sparked by hawkish remarks from U.S. Federal Reserve officials, dimming hopes for a December interest rate cut.
• Bitcoin (/BTC) – The Crypto Future is up over 1% near 95,500 in premarket trading and hit nearly 7-month lows overnight before rebounding.
• VIX – The CBOE Volatility Index fell nearly 1% on Friday and settled at 19.83 as stocks finished the session mixed.
• U.S. Dollar (/DX) – The dollar is up 0.1% to around 99.3.

Biggest Premarket Movers (Mark % Change as of 7 AM ET)

1. Albemarle (ALB): +4.55%
2. Alphabet (GOOG): +3.98%
3. Block (XYZ): +1.69%

1. Dell (DELL): -5.95%
2. HP Inc. (HPQ): -3.87%
3. Hewlett Packard Enterprise (HPE): -2.93%

Economic Data

• 8:30 AM ET: Empire State Mfg. Index
• 9:00 AM ET: Fed’s Williams Speaks
• 10:00 AM ET: Construction Spending
• 11:30 AM ET: 3-Month Bill Auction, 6-Month Bill Auction
• 1:00 PM ET: Fed’s Kashkari Speaks

Notable Earnings

• Premarket: ARMK, HP, JKS, XPEV, ZK
• Postmarket: TCOM
• Premarket Tomorrow: ACM, AS, BIDU, ENR, FUTU, HD, IQ, JHX, BZ, KLAR, MDT, PDD, WB
• Postmarket Tomorrow: SQM, LZB, QFIN

Upgrades/Downgrades

• Barclays upgrades Gap (GPS) to Overweight from Equal Weight
• Truist upgrades Block (XYZ) to Hold from Sell
• TD Cowen upgrades Yum! Brands (YUM) to Buy from Hold
• Morgan Stanley double downgrades Dell Technologies (DELL) to Underweight from Overweight
• Morgan Stanley downgrades HP Inc. (HPQ) to Underweight from Equal Weight
• Morgan Stanley downgrades HP Enterprise (HPE) to Equal Weight from Overweight

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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.