U.S. equity futures are modestly higher ahead of the Wall Street open with the benchmark S&P 500 (SPX) less than 1% below its all-time high from February. The tech-heavy Nasdaq-100 (NDX) settled at a new record high on Wednesday led by record closes in Microsoft (MSFT) and Nvidia (NVDA).

Investor focus will be on data today with reports due on Jobless Claims, Durable Goods and the final read on 1Q GDP.

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil prices are up 0.3% near $65.10 a barrel, as a larger-than-expected draw in U.S. crude stocks signaled firm demand, while investors remained cautious about the Iran-Israel ceasefire and stability in the Middle East.
• Gold (/GC) – Gold prices are up 0.1% near $3347, lifted by a weaker dollar and growing uncertainty after reports suggested U.S. President Donald Trump had considered replacing Federal Reserve Chair Jerome Powell as early as September or October.
• Bitcoin (/BTC) – The Crypto Future is down 0.4% near 107.4K in the premarket.
• VIX – The CBOE Volatility Index fell 4.1% on Wednesday and settled at 16.76 as stocks were muted. It was the lowest closing price for the VIX since February 20th.
• U.S. Dollar (/DX) – The dollar is down 0.3% to just below 97.

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

1. McCormick (MKC): +4.56%
2. Incyte (INCY): +3.40%
3. Freeport-McMoRan (FCX): +2.96%

1. Equinix (EQIX): -1.62%
2. MGM Resorts (MGM): -0.83%
3. Fortinet (FTNT): -0.67%

Economic Data

• 8:00AM ET: Fed’s Barkin Speaks
• 8:30AM ET: Durable Goods Orders, Jobless Claims, GDP - Final Read 1Q, International Trade, Retail/Wholesale Inventories
• 8:45AM ET: Fed’s Barkin Speaks
• 9:00AM ET: Fed’s Hammack Speaks
• 10:00AM ET: Pending Home Sales
• 11:00AM ET: Kansas City Fed Mfg.
• 1:00PM ET: 7-Year Note Auction
• 1:15PM ET: Fed’s Barr Speaks

Notable Earnings

• Premarket: AYI, MKC, WBA
• Postmarket: AOUT, CNXC, NKE
• Premarket Tomorrow: APOG
• Postmarket Tomorrow: None

Upgrades/Downgrades

• Citizens JMP upgrades Penn Entertainment (PENN) to Outperform from Market Perform
• RBC Capital upgrades General Mills (GIS) to Outperform from Sector Perform
• Jefferies downgrades ASML (ASML) to Hold from Buy
• Wells Fargo downgrades Trade Desk (TTD) to Equal Weight from Overweight
• Citizens JMP downgrades MGM Resorts (MGM) to Market Perform from Outperform

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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.