U.S. stock futures are relatively flat in premarket trading after the S&P 500 settled at another record high on Wednesday. The trade deal with Japan lent support yesterday and a report that the E.U. is close to a deal lifted equities.

Magnificent 7 stocks Tesla (TSLA) and Alphabet (GOOGL) reported earnings last night with Tesla under pressure and Alphabet up modestly.

Investor focus will continue to be on earnings and trade deal news today along with economic data, including Jobless Claims, PMI and New Home Sales.

Also, President Donald Trump will visit the Federal Reserve on Thursday, escalating his pressure campaign against Chairman Jerome Powell.

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil prices are up nearly 1% near $66 a barrel, buoyed by optimism over U.S. trade negotiations that would ease pressure on the global economy and a sharper-than-expected decline in U.S. crude inventories.
• Gold (/GC) – Gold prices are down 1% near $3370 after a sharp drop in the previous session, as easing trade tensions dented demand for safe-haven assets and a firming dollar create headwinds.
• Bitcoin (/BTC) – The Crypto Future is relatively flat near 118.5K in the premarket.
• VIX – The CBOE Volatility Index fell 6.8% on Wednesday and settled at 15.37 as stocks were higher. It was the lowest closing price for the VIX in 5 months.
• U.S. Dollar (/DX) – The dollar is up 0.2% to 97.1.

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

1. West Pharmaceutical (WST): +20.80%
2. Pool (POOL): +7.31%
3. ServiceNow (NOW): +6.96%

1. Chipotle (CMG): -11.92%
2. LKQ (LKQ): -9.61%
3. Dow (DOW): -9.29%

Economic Data

• 8:30AM ET: Jobless Claims, Chicago Fed Natl. Activity Index
• 9:45AM ET: PMI Composite - Flash
• 10:00AM ET: New Home Sales
• 10:30AM ET: Natural Gas Inventories
• 11:00AM ET: Kansas City Fed Mfg. Index

Notable Earnings

• Premarket: ADT, AAL, AMP, BX, BC, CX, CNP, DOV, DOW, GPI, HON, KDP, LHX, MBLY, NDAQ, R, SAH, LUV, STM, FTI, TECK, TXT, TSCO, TRU, UNP, VLO, WAB
• Postmarket: BYD, SAM, DECK, DLR, EW, INTC, KN, MHK, NEM, WEX, WY
• Premarket Tomorrow: AON, AN, BAH, CRI, CNC, CHTR, HCA, LEA, PSX, SAIA, TTE, VRTS
• Postmarket Tomorrow: None

Upgrades/Downgrades

• New Street upgrades ASML (ASML) to Buy from Neutral
• KGI Securities upgrades Boeing (BA) to Outperform from Neutral
• Oppenheimer upgrades Spotify (SPOT) to Outperform from Perform
• HSBC downgrades AT&T (T) to Hold from Buy
• Citi downgrades KeyCorp (KEY) to Neutral from Buy
• Berenberg downgrades BHP Group (BHP) to Sell from Hold

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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.