U.S. stock futures are relatively flat in the premarket with the S&P 500 and Nasdaq-100 on three-session win streaks. Despite lower than expected ADP private payrolls and ISM services data on Wednesday, big tech is leading the markets with the S&P 500 less than 3% from its all-time high. Focus today will be on Jobless Claims data along with earnings from Broadcom (AVGO) after the closing bell.

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil prices are up 0.1% near $63 a barrel after a build in U.S. gasoline and diesel inventories and Saudi Arabia’s cut to its July prices for Asian crude buyers.
• Gold (/GC) – Gold is 0.6% near $3420 as investors assessed weaker-than-expected U.S. data and ongoing global economic and political uncertainties, while looking ahead to U.S. payroll data for further economic cues.
• Bitcoin (/BTC) – The Crypto Future is relatively flat near 105K in the premarket.
• VIX – The CBOE Volatility Index was down 0.5% on Wednesday and settled at 17.61 as stocks were relatively flat.
• U.S. Dollar (/DX) – The dollar is also flat at 98.8.

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

1. Freeport-McMoRan (FCX): +2.06%
2. Match Group (MTCH): +1.84%
3. Dollar Tree (DLTR): +1.70%

1. Tesla (TSLA): -2.20%
2. Palantir (PLTR): -0.78%
3. Home Depot (HD): -0.49%

Economic Data

• 7:30AM ET: Challenger Job Cuts
• 8:15AM ET: EBC Announcement
• 8:30AM ET: Jobless Claims, Intl. Trade in Goods, Productivity & Costs
• 10:30AM ET: Natural Gas Inventories
• 12:00PM ET: Fed’s Kugler Speaks
• 1:30PM ET: Fed’s Harker/Schmid Speak

Notable Earnings

• Premarket: BF/B, CIEN, CBRL, DLTH, MOMO, LE, TTC
• Postmarket: AVGO, DOCU, GES, LULU, WOOF, RENT, TTAN, MTN, ZUMZ
• Premarket Tomorrow: ABM, GIII, MANU
• Postmarket Tomorrow: None

Upgrades/Downgrades

• Mizuho upgrades Visa (V) Outperform from Neutral
• Erste Group upgrades Broadcom (AVGO) to Buy from Hold
• Bernstein upgrades Texas Instruments (TXN) to Market Perform from Underperform
• Erste Group downgrades Salesforce (CRM) to Hold from Buy
• Jefferies downgrades Chewy (CHWY) to Hold from Buy
• Erste Group downgrades Eli Lilly (LLY) to Hold 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.