U.S. stock futures are higher ahead of the Wall Street open as traders dismissed concerns over President Donald Trump's announcement of a new steep tariff on imports of semiconductors and chips.

Trump announced late Wednesday that there would be a 100% tariff on imported chips, but not for companies that are “building in the United States.”

News of the tariff comes after Apple (AAPL) said it plans to spend an additional $100 billion on U.S. companies and suppliers over the next four years. That’s on top of a $500 billion announcement Apple made in February.

Investor focus remains on tariff headlines, earnings along with Jobless Claims data due this morning.

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil prices are up 0.5% near $64.70 a barrel, pausing a five-day losing streak, on signs of steady demand in the U.S., the world’s biggest oil user, though the prospect of U.S.-Russian talks on the Ukraine war eased concerns of supply disruptions from further sanctions.
• Gold (/GC) – Gold futures are up 0.6% near $3450, supported by renewed safe-haven demand after U.S. President Donald Trump slapped an additional 25% tariff on Indian imports, escalating trade frictions.
• Bitcoin (/BTC) – The Crypto Future is up 1% and over $117,000 in the premarket.
• VIX – The CBOE Volatility Index was down 6% on Wednesday and settled at 16.77 as stocks were higher.
• U.S. Dollar (/DX) – The dollar is slightly higher premarket at 98.1.

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

1. Datadog (DDOG): +11.49%
2. EPAM Systems (EPAM): +6.40%
3. Becton Dickinson (BDX): +5.56%

1. Fortinet (FTNT): -20.09%
2. Eli Lilly (LLY): -7.59%
3. Airbnb (ABNB): -5.94%

Economic Data

• 8:30AM ET: Jobless Claims, Productivity & Costs
• 10:00AM ET: Fed’s Bostic Speaks, Wholesale Inventories
• 10:30AM ET: Natural Gas Inventories
• 1:00PM ET: 30-Year Bond Auction
• 3:00PM ET: Consumer Credit

Notable Earnings

• Premarket: GOLF, ATUS, BDX, COMM, COP, CEG, CROX, QBTS, DDOG, LLY, HBI, HTZ, H, KVUE, KTB, DNUT, MLM, PZZA, PH, PTON, PENN, RL, QSR, SEDG, SPB, TM, TRIP, VST, WRBY, WMG, YETI, ZBH
• Postmarket: AKAM, ARRY, TEAM, XYZ, CARG, DBX, EXPE, FLUT, GILD, GDDY, CART, LZ, LYV, MCHP, PARA, PINS, POST, RXT, REAL, SOUN, SG, TTWO, TTD, TWLO, WYNN, YELP
• Premarket Tomorrow: AMCX, EOG, FUBO, OMI, SAIL, UAA, WEN
• Postmarket Tomorrow: None

Upgrades/Downgrades

• DZ Bank upgrades AMD (AMD) to Hold from Sell
• Arete upgrades eBay (EBAY) & Etsy (ETSY) to Neutral from Sell
• Roth Capital upgrades Lyft (LYFT) to Buy from Neutral
• Morgan Stanley downgrades Caterpillar (CAT) to Underweight from Equal Weight
• Keybanc downgrades Fortinet (FTNT) to Sector Weight from Overweight
• DA Davidson downgrades IonQ (IONQ) to Neutral from Buy

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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.