U.S. stock futures are slightly higher in premarket trading after the S&P 500 snapped a seven-day win streak on Tuesday as the government shutdown entered in second week with little progress out of Washington.

The moves came after The Information reported Oracle’s (ORCL) margins from its cloud business are weaker than analysts are currently forecasting, and that the enterprise software company is losing money on some of its deals to rent out Nvidia’s chips.

Investor focus will be on more Fedspeak today along with the FOMC minutes this afternoon. Earnings ramp up tomorrow morning with results due from Delta Airlines (DAL) and Pepsico (PEP) in a look at consumer spending.

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil prices are up nearly 1.5% near $62.50 a barrel as investors weighed a smaller-than-expected increase to OPEC+ output in November against signs of a potential supply glut.
• Gold (/GC) – Gold prices are up 1.3% near $4060 and hit another all-time high as investors seek a safe haven from a weaker dollar, geopolitical volatility, economic uncertainty and stubborn inflation.
• Bitcoin (/BTC) – The Crypto Future is up over 1% near 124,000 in premarket trading after hitting all-time highs on Monday.
• VIX – The CBOE Volatility Index was up 5.3% on Tuesday and settled at 17.24 as stocks fell off of record highs.
• U.S. Dollar (/DX) – The dollar is up 0.3% to 98.5.

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

1. Equifax (EFX): +2.59%
2. Freeport McMoRan (FCX): +1.79%
3. Newmont (NEM): +1.67%

1. Fair Isaac (FICO): -3.17%
2. FedEx (FDX): -1.70%
3. Edwards Lifesciences (EW): -1.59%

Economic Data

• 7:00AM ET: MBA Mortgage Applications
• 9:20AM ET: Fed’s Musalem Speaks
• 9:30AM ET: Fed’s Barr Speaks
• 10:30AM ET: Oil Inventories
• 1:00PM ET: 10-Year Note Auction
• 2:00PM ET: FOMC Minutes
• 3:15PM ET: Fed’s Kashkari Speaks
• 4:30PM ET: Fed’s Kashkari Speaks
• 5:45PM ET: Fed’s Barr Speaks

Notable Earnings

• Premarket: None
• Postmarket: AZZ
• Premarket Tomorrow: DAL, HELE, PEP, TLRY
• Postmarket Tomorrow: APOG, LEVI

Upgrades/Downgrades

• DBS Bank upgrades AMD (AMD) to Buy from Hold
• Deutsche Bank upgrades Northrup Grumman (NOC) to Buy from Hold
• Citi upgrades Freeport-McMoRan (FCX) to Buy from Neutral
• HSBC downgrades Intel (INTC) to Reduce from Hold
• JPMorgan downgrades FedEx (FDX) to Neutral from Overweight
• Citi downgrades C.H. Robinson (CHRW) 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.