Markets are mostly pointing toward a higher open, with S&P 500 and Nasdaq-100 futures (/NQ) up while Dow futures (/YM) are lagging.

Crude oil futures (/CL) continue to climb as U.S.-Iran tensions continue, with President Trump saying last night he does not know whether the two countries are returning to war and suggesting more strikes could be coming. The U.S. benchmark oil price is up roughly 9% from last week through Wednesday’s close to near $74 per barrel.

PepsiCo (PEP) shares are lower after reporting earnings that missed targets, saying its North American food/beverage divisions faltered while international demand was strong. Meanwhile, AstraZeneca (AZN) is down about nearly 8% after its late-stage clinical trials for a heart disease drug did not reach targets. Thursday’s economic data includes Jobless Claims and Existing Home Sales. Delta Airlines (DAL) reports earnings Friday to close out the week.

Snapshot (as of 8 AM ET)

• Oil (/CL) – U.S. oil prices futures are up 0.6% to $73.92 per barrel
• Gold (/GC) – Gold futures are up 0.92% to $4,110.70 per ounce
• Bitcoin (/BTC) – The cryptocurrency futures are up 0.72% to 62,880
• VIX – The CBOE Volatility Index was off by 0.12% to 16.88
• U.S. Dollar ($DXY) – The dollar index is down 0.01% to 100.978

Biggest Premarket Movers (as of 8 AM ET)

Advancers:

• Corning (GLW) 5.69%
• Marvell Technology (MRVL) 5.52%
• Micron Technology (MU) 5.27%
• Western Digital (WDC) 5.05%
• Applied Materials (AMAT) 5.00%

Decliners:

• Salesforce (CRM) -4.21%
• IBM (IBM) -3.99%
• ServiceNow (NOW) -3.60%
• Paramount Skydance (PSKY) -2.97%
• Workday (WDAY) -2.93%

Economic Data (ET)

• 08:30 AM: Initial Jobless Claims
• 09:00 AM: Fed Williams Speech
• 10:00 AM: Existing Home Sales (June)

Notable Earnings

• Premarket: PepsiCo (PEP), Simply Good Foods (SMPL)
• Postmarket: WD40 (WDFC)
• Premarket:Tomorrow: Delta Air Lines (DAL)
• Postmarket: n/a

Upgrades/Downgrades

• Wolfe Research upgrades American Tower (AMT) and ITT (ITT) to Outperform from Peer Perform, and Grainger (GWW) to Peer Perform from Underperform
• Cantor Fitzgerald upgrades AIG (AIG) to Overweight from Neutral
• Citi upgrades Old Dominion (ODFL) to Neutral from Sell
• Mizuho downgrades Tractor Supply (TSCO) to Neutral from Outperform
• Keefe Bruyette downgrades First Citizens BancShares (FCNCA) to Market Perform from Outperform
• Wells Fargo downgrades Packaging Corporation of America (PKG) to Equal Weight 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.