U.S. stock futures are relatively flat in premarket trading as investors parsed through the latest earnings. Stocks rallied on Wednesday after initially falling on President Donald Trump’s feud with Federal Reserve Chairman Jerome Powell. Trump denied that he was planning to fire Powell from his position as Fed chief. Investor focus will be on earnings fallout today along with economic data, including Retail Sales and Jobless Claims.

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil prices are up 0.5% near $66.60 a barrel, reversing Wednesday’s losses, buoyed by stronger-than-expected economic data from the world’s top oil consumers and signs of easing trade tensions.
• Gold (/GC) – Gold prices are down 0.8% near $3330, pressured by a firmer dollar and easing market tensions after U.S. President Donald Trump said it was “highly unlikely” he would dismiss Federal Reserve Chair Jerome Powell.
• Bitcoin (/BTC) – The Crypto Future is down 1% near 118.5K in the premarket. Cryptocurrencies and several stocks tied to the blockchain ecosystem rallied Wednesday after the House approved a procedural vote to consider three key bills governing crypto regulation after Republican lawmakers halted their passage Tuesday.
• VIX – The CBOE Volatility Index fell 1.3% on Wednesday and settled at 17.16 as stocks rallied into the close in choppy trading.
• U.S. Dollar (/DX) – The dollar is up 0.4% to 98.5.

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

1. CSX (CSX): +5.44%
2. Ansys (ANSS): +3.35%
3. Norfolk Southern (NSC): +2.50%

1. Archer-Daniels Midland (ADM): -6.02%
2. Abbott Labs (ABT): -4.36%
3. Micron (MU): -3.72%

Economic Data

• 8:30AM ET: Jobless Claims, Retail Sales, Philly Fed Mfg. Index, Import/Export Prices
• 10:00AM ET: Housing Market Index, Business Inventories, Fed’s Kugler Speaks
• 10:30AM ET: Natural Gas Inventories
• 12:45PM ET: Fed’s Daly Speaks
• 1:30PM ET: Fed’s Cook Speaks
• 4:00PM ET: Treasury Intl. Capital

Notable Earnings

• Premarket: ABT, CTAS, CFG, ELV, FITB, GE, MAN, MMC, NVS, PEP, SNA, TSM, TRV, USB
• Postmarket: OZK, FNB, NFLX, WAL, WIT
• Premarket Tomorrow: MMM, ALLY, AXP, ALV, SCHW, CMA, HBAN, RF, SLB, TFC, WIT
• Postmarket Tomorrow: None

Upgrades/Downgrades

• Jefferies upgrades Mondelez (MDLZ) to Buy from Hold
• Wells Fargo upgrades United Natural Foods (UNFI) to Equal Weight from Underweight
• JPMorgan upgrades Cars.com (CARS) to Overweight from Neutral
• Jefferies downgrades Starbucks (SBUX) & Shake Shack (SHAK) to Underperform from Hold
• JPMorgan downgrades Group 1 Automotive (GPI) to Neutral from Overweight
• JPMorgan double downgrades Sonic Automotive (SAH) to Underweight from Overweight

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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.