U.S. stock futures are slightly lower in premarket trading as traders looked ahead to a key speech from Federal Reserve Chair Jerome Powell later in the week.

Home Depot (HD) shares are up slightly despite the home improvement giant reporting weaker-than-expected second-quarter earnings but the company maintained its full-year outlook.

Investor focus is on retail earnings this week along with Fed Chair Powell’s speech on Friday morning that may provide clues on potential interest rate cuts.

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil prices are down over 1% near $62 a barrel as traders weighed the possibility that talks between Russia, Ukraine and the U.S. to end the war in Ukraine could lead to the lifting of sanctions on Russian crude, raising supply.
• Gold (/GC) – Gold prices are up 0.2% near $3,380, buoyed by lower treasury yields and a weaker dollar amid prospects of lower U.S. interest rates, while investors looked ahead to the Federal Reserve chair’s speech at Jackson Hole on Friday.
• Bitcoin (/BTC) – The Crypto Future is down 0.6% near $115,800 in the premarket.
• VIX – The CBOE Volatility Index was down 0.6% on Monday and settled at 14.99 as stocks were flat.
• U.S. Dollar (/DX) – The dollar is down 0.1% to 97.9.

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

1. Palo Alto Networks (PANW): +5.90%
2. Intel (INTC): +4.31%
3. Best Buy (BBY): +2.09%

1. Medtronic (MDT): -3.14%
2. Advanced Micro Devices (AMD): -1.36%
3. Chevron (CVX): -1.10%

Economic Data

• 8:30AM ET: Housing Starts/Permits
• 10:00AM ET: E-Commerce Retail Sales
• 2:10PM ET: Fed’s Bowman Speaks

Notable Earnings

• Premarket: AS, HD, MDT, VIK, XPEV
• Postmarket: SQM, JHX, KEYS, LZB, TOL, ZTO
• Premarket Tomorrow: ALC, ADI, BIDU, DY, EL, GDS, IQ, BEKE, KC, LOW, TGT, TJX, ZIM
• Postmarket Tomorrow: COTY, NDSN

Upgrades/Downgrades

• Evercore upgrades Caterpillar (CAT) to Outperform from In Line
• BofA upgrades Palo Alto Networks (PANW) to Buy from Neutral
• Daiwa upgrades Gilead (GILD) to Outperform from Neutral
• Bernstein downgrades Li Auto (LI) 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.