Markets are lower as the final day of the trading week opens, with S&P Futures (/ES) down about -0.33% after breaking news that President Trump nominated Kevin Warsh as Federal Reserve Chair.

Earnings are another notable headline today, with Apple (AAPL) and Exxon (XOM) both lower after reporting results. The red-hot precious metals rally also is taking a pause today as gold and silver saw sharp declines and dragged down mining stocks along with them in early trading.

Next week’s earnings will kick off with Palantir (PLTR) and Disney (DIS), while today’s economic data includes PPI and Chicago PMI.

Snapshot (as of 7 AM ET)

• Oil (/CL) – Crude oil future are around -0.4% lower to $65.20.
• Gold (/GC) – Gold futures are sharply lower, trading near 5,161 for a -4.6% move after yesterday’s -0.67% fall.
• Bitcoin (/BTC) – The crypto futures are down about -1.5% near 83,145 on the back of yesterday’s -5.5% rout.
• VIX – The VIX closed at 16.88 yesterday, off significantly from its highs of 19.74 but still up from its previous close of 16.45.
• U.S. Dollar (/DX) – The dollar is up 0.3% to 96.4 after a 0.17% dip yesterday.

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

1. Sandisk (SNDK) : +23.49%
2. Deckers Outdoor (DECK): +11.12%
3. Charter Communications (CHTR): +6.52%
4. Micron Technology (MU): +4.44%
5. Church & Dwight (CHD): +3.41%

1. KLA Corp. (KLAC): -7.76%
2. Albemarle (ALB): -6.81%
3. Newmont (NEM): -5.14%
4. Freeport McMoRan (FCX): -4.50%
5. American Express (AXP): -2.65%

Economic Data

• 8:30 AM ET: PPI - Final
• 9:45 AM ET: Chicago PMI
• 12:30 PM ET: Fed’s Musalem Speaks
• 1:00 PM ET: Baker Hughes Rig Count
• 3:00 PM ET: Farm Prices
• 5:00 PM ET: Fed’s Bowman Speaks

Notable Earnings

• Premarket: VZ, XOM, CVX, AXP, REGN, CL, CHD, CHTR
• Postmarket: None
• Premarket Monday: DIS, SPG, TSN
• Postmarket Monday: PLTR, NXPI, DVA, FN

Upgrades/Downgrades

• Wolfe Research upgrades Broadcom (AVGO) to Outperform from Peer Perform
• Citi upgrades Spotify (SPOT) to Buy from Neutral
• Guggenheim upgrades GE Vernova (GEV) to Buy from Neutral
• Citizens downgrades SAP (SAP) to Market Perform from Outperform
• Jefferies downgrades Kenvue (KVUE) to Hold from Buy
• Stifel downgrades Codere Online (CDRO) 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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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.