Stock futures are higher across the board this morning after Meta Platforms (META) and Microsoft (MSFT) beat earnings estimates, as well as the White House saying it was near an announcement of the first few trade deals. Jobs data and more Mag 7 earnings — Apple (AAPL) and Amazon (AMZN) — will keep traders on their toes today.

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil prices are down 2.5% near $56.70 a barrel triggered by signs that Saudi Arabia could increase output and data showing the U.S. economy contracted. Crude is at 3-week lows.
• Gold (/GC) – Gold futures are down nearly 3% at $3224 to hit its lowest level in two weeks as the dollar’s strength and easing trade tensions dulled the metal’s safe-haven allure, while investors looked forward to the U.S. non-farm payrolls report due this week.
• Bitcoin (/BTC) – The crypto future is up over 2% near $97K in the premarket
• VIX – The CBOE Volatility Index was up 2% on Wednesday and settled at 24.70 as stocks bounced off of lows to finish positive. It has fallen another 3%, below 24.
• U.S. Dollar (/DX) – The dollar is slightly higher around 99.6.

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

1. CVS Health (CVS): +9.73%
2. Align Technology (ALGN): +9.64%
3. Microsoft (MSFT): +8.85%

1. Qualcomm (QCOM): -5.25%
2. Becton Dickinson (BDX): -4.87%
3. Church & Dwight (CHD): -4.37%

Economic Data

• 7:30AM ET: Challenger Job Cuts
• 8:30AM ET: Jobless Claims
• 9:45AM ET: PMI Manufacturing - Final
• 10:00AM ET: ISM Manufacturing, Construction Spending
• 10:30AM ET: Natural Gas Inventories
• 4:30PM ET: Fed Balance Sheet

Notable Earnings

• Premarket: APD, APTV, BAX, BDX, BIIB, BLDR, CCJ, CARR, CHD, CVS, D, LLY, EL, EXC, FTV, HOG, HSY, HUBB, H, K, KKR, MA, MCD, MRNA, PH, RBLX, SHAK, SIRI, W, XRX
• Postmarket: ABNB, AMZN, AIG, AMGN, AAPL, TEAM, BZH, XYZ, EXAS, FND, ULCC, GDDY, CART, JNPR, LYV, MTZ, MSTR, RDDT, RIOT, ROKU, SYK, TWLO, X, ZETA
• Premarket Tomorrow: AES, APO, CBOE, CVX, CI, CNK, DD, ETN, EOG, XOM, FLR, FUBO, SHEL, TEX, WEN, WLK
• Postmarket Tomorrow: None

Upgrades/Downgrades

• Baird upgrades Caterpillar (CAT) to Neutral from Underperform
• Truist upgrades ServiceNow (NOW) to Buy from Hold
• JPMorgan upgrades Western Digital (WDC) to Overweight from Neutral
• HSBC downgrades UPS (UPS) to Hold from Buy
• Redburn Atlantic downgrades Procter & Gamble (PG) to Neutral from Buy

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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.