U.S. stock futures were relatively flat in premarket trading with the tech-heavy Nasdaq-100 (NDX) lagging as chip stocks are weak.

This follows gains in semiconductor stocks Thursday in a broad-based rally. Investors are gearing up for the U.S. trading debut of South Korean chipmaker SK Hynix (SKHY) on the Nasdaq today.

The company, which competes with Micron Technology (MU) and Samsung in the memory chip sector, is pricing its American Depositary Receipts (ADRs) at $149 each, according to Bloomberg. With no economic data due today, investor focus will turn to earnings season, which unofficially kicks off on Tuesday with results due from major banks including JPMorgan Chase (JPM), Goldman Sachs (GS) and Citigroup (C).

Snapshot (as of 8 AM ET)

• Oil (/CL) – U.S. oil futures are up 0.82% to $72.67 per barrel
• Gold (/GC) – Gold futures are down 0.69% to 4,112.10 per ounce
• Bitcoin (/BTC) – The cryptocurrency futures are up roughly 2% to 64,635
• VIX – The CBOE Market Volatility Index is up 0.88% to 15.98
• U.S. Dollar ($DXY) – The dollar index is down 0.02% to 100.879

Biggest Premarket Movers (as of 8 AM ET)

Advancers:

• Coinbase Global Inc (COIN) 4.67%
• Meta Platforms Inc (META) 3.41%
• Robinhood Markets Inc (HOOD) 2.68%
• ServiceNow Inc (NOW) 1.39%
• Moderna Inc (MRNA) 1.38%

Decliners:

• Intel Corp (INTC) -2.43%
• SanDisk Corp (SNDK) -2.32%
• Verizon Communications Inc (VZ) -1.63%
• Western Digital Corp (WDC) -1.44%
• Applied Materials Inc (AMAT) -1.32%

Economic Data (ET)

• 1:00 PM: Baker-Hughes Rig Count 

Notable Earnings

• Premarket: DAL
• Postmarket: n/a
• Premarket Monday: n/a
• Postmarket Monday: AERO, FBK

Upgrades/Downgrades

• Wells Fargo upgrades Seagate Technology (STX) to Overweight from Equal Weight
• Citi upgrades Toll Brothers (TOL) to Buy from Neutral
• Stifel upgrades Shopify (SHOP) to Buy from Hold
• Citi downgrades PepsiCo to Neutral from Buy
• Evercore ISI downgrades Travelers (TRV) to In Line from Outperform
• Barclays downgrades Public Storage (PSA) to Equal Weight from Overweight

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.