U.S. stock futures are slightly higher in premarket trading, stabilizing after Thursday’s selloff.

A six-week high in oil prices and lackluster earnings from Alphabet (GOOGL) and Tesla (TSLA) pressured the equity market. U.S. President Donald Trump said he will soon make a decision on whether to launch a “massive attack” on Iran as the conflict in the Middle East threatens to extend to the Red Sea. The U.S. oil benchmark pulled back to near $90 per barrel early Friday but is still up about 10% this week.

Despite this week’s volatility, the four major indices are down less than 1% for the week. Investor focus today remains on geopolitical headlines, oil prices, economic data, and the fallout from earnings from Intel (INTC) and American Express (AXP).

Snapshot (as of 8 AM ET)

• Oil (/CL) – Oil futures are down 2.36% to $90.00 per barrel
• Gold (/GC) – Gold futures are up 0.16% to 4,056.70 per ounce
• Bitcoin (/BTC) – The cryptocurrency futures are up 0.22% to 65,015
• VIX (/VIX) – The CBOE Volatility Index is up 0.70% to 18.83
• U.S. Dollar ($DXY) – The dollar index is down -0.03% to 101.409

Biggest Premarket Movers (as of 8 AM ET)

Advancers:

• SLB (Schlumberger N.V.) 4.40%
• EW (Edwards Lifesciences Corp.) 3.79%
• DLR (Digital Realty Trust Inc.) 3.30%
• INTC (Intel Corp.) 2.71%
• AXON (Axon Enterprise Inc.) 2.05%

Decliners:

• CHTR (Charter Communications Inc.) -3.57%
• SNDK (Sandisk Corp.) -3.08%
• EBAY (eBay Inc.) -2.71%
• HIG (Hartford Insurance Group Inc.) -2.66%
• AXP (American Express Corp.) -2.30%

Economic Data (ET)

• 9:45 AM: PMI Composite
• 10:00 AM: New Home Sales
• 1:00 PM: Baker-Hughes Rig Count

Notable Earnings

• Premarket: AXP, BAH, CNI, CHTR, HCA, LW, NEE, SLB, THC, VZ
• Postmarket: n/a
• Premarket Monday: AZN, BKR
• Postmarket Monday: AMKR, APLD, BRO, CDNS, FFIV, NUE, PFG, RMBS, UHS, WELL

Upgrades/Downgrades

• Wells Fargo upgrades Freeport-McMoRan (FCX) from Equal Weight to Overweight
• Truist upgrades PayPal (PYPL) from Sell to Hold
• Leerink upgrades Edwards Lifesciences (EW) from Market Perform to Outperform
• Telsey Advisory downgrades Albertsons (ACI) from Outperform to Market Perform
• JPMorgan downgrades Infosys (INFY) from Overweight to Neutral
• JPMorgan downgrades Rollins (ROL) from Overweight to Neutral

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.