U.S. stock futures are slightly higher in the premarket after President Trump announced Sunday that the U.S. has reached an agreement with the European Union to lower tariffs to 15%.

The moves come after the S&P 500 (SPX) and Nasdaq-100 (NDX) settled at another record high close on Friday. Wall Street is also coming off a winning week fueled by strong earnings and recent deals between the U.S. and other trading partners, including Japan and Indonesia.

Investors are gearing up for the busiest week of earnings season. More than 150 companies in the S&P 500 are due to post their quarterly results, including “Magnificent Seven” names Meta Platforms (META) and Microsoft (MSFT) on Wednesday, followed by Amazon (AMZN) and Apple (AAPL) on Thursday.

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil prices are up over 1% at $66 a barrel after the U.S. reached a trade deal with the European Union and may extend a tariff pause with China, reducing concerns that potentially higher levies would limit economic activity and impact fuel demand.
• Gold (/GC) – Gold prices are flat near $3335 and near their lowest level in nearly two weeks, as a framework trade agreement between the United States and European Union ahead of the August 1 tariff deadline boosted appetite for risk assets.
• Bitcoin (/BTC) – The Crypto Future is up 1.3% just below 120K in the premarket.
• VIX – The CBOE Volatility Index fell 3% on Friday and settled at 14.93 as stocks were higher. It was the lowest closing price for the VIX since Valentine’s Day.
• U.S. Dollar (/DX) – The dollar is up over 0.5% to 98.

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

1. Nike (NKE): +3.97%
2. Eaton (ETN): +2.00%
3. KLA (KLAC): +1.99%

1. Revity (RVTY): -5.46%
2. Albemarle (ALB): -3.93%
3. Cisco Systems (CSCO): -1.35%

Economic Data

• 10:30AM ET: Dallas Fed Mfg. Survey
• 1:00PM ET: 2-Year Note Auction, 5-Year Note Auction

Notable Earnings

• Premarket: EPD, NGD, RVTY
• Postmarket: AMKR, BRO, CDNS, CR, HIG, NOV, NUE, OLN, PCH, PFG, TLRY, UHS, WELL, WU, WHR, WM, WWD
• Premarket Tomorrow: ALKS, AMT, AZN, BAND, BA, CARR, CBRE, GLW, DTE, ECL, GPK, HRI, HUBB, INCY, JBLU, JCI, LAD, MRK, NSC, PYPL, PII, PG, RCL, PHG, SOFI, SPOT, SWK, STLA, SYY, UPS, UNH
• Postmarket Tomorrow: CAR, BKNG, BXP, CZR, CWH, CAKE, EA, LC, LOGI, MARA, MDLZ, NBR, OI, PPG, QRVO, RSG, STX, ST, SBUX, TDOC, TER, TTAM, UNM, V, WERN

Upgrades/Downgrades

• JPMorgan upgrades Nike (NKE) to Overweight from Neutral
• Wolfe Research upgrades Texas Instruments (TXN) to Outperform from Peer Perform
• JPMorgan upgrades Mara Holdings (MARA) to Overweight from Neutral
• Mizuho downgrades GE Vernova (GEV) to Neutral from Outperform
• Evercore downgrades Cisco Systems (CSCO) to In Line from Outperform
• JPMorgan downgrades American Eagle (AEO) to Underweight from Neutral

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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.