U.S. stock futures are modestly higher in premarket trading as oil prices are lower but yields remain elevated.

On Thursday, stocks bounced off of lows to finish slightly negative amid positive commentary out of the Middle East. The benchmark 10-year Treasury note is up slightly near 5.17%, after it reached highest level since June 2007 on Thursday. The 30-year Treasury bond was flat at 5.46%, after surging to levels not seen since 2004

Oil prices are down more than 2% to roughly $92.50 per barrel following a report that U.S. and Iranian negotiators in New York are discussing a phased deal to end the standoff in the Persian Gulf. Iran has offered to reopen the vital Strait of Hormuz and resume nuclear talks with the U.S. within seven days if Washington accepts its conditions.

Investors will continue to monitor geopolitical risks today along with the moves in oil prices and yields.

Snapshot

• Oil (/CL) – Oil futures are down 2.23% to $92.48 per barrel
• Gold (/GC) – Gold futures are up 0.97% to 4,340.00 per ounce
• Bitcoin (/BTC) – The cryptocurrency futures are down 0.19% to 85,070
• VIX (/VIX) – The CBOE Volatility Index is down 4% to 15.04
• U.S. Dollar ($DXY) – The dollar index is down 0.30% to 100.981

Big Premarket Movers

Advancers:

• Akamai Technologies (AKAM) +19.22%
• Synopsys (SNPS) +3.26%
• Everpure (P) +2.56%
• Coherent (COHR) +2.37%
• Vertiv Holdings (VRT) +2.32%

Decliners:

• Nike (NKE) -2.03%
• Comcast (CMCSA) -1.99%
• APA (APA) -1.26%
• Occidental Petroleum (OXY) -1.19%
• Marathon Petroleum (MPC) -1.14%

Economic Data (ET)

• 8:30 AM: Durable Goods Orders
• 9:20 AM: Fed’s Schmid Speaks
• 10:00 AM: Consumer Sentiment
• 2:00 PM: Fed’s Hammack Speaks

Notable Earnings

• Premarket: N/A
• Postmarket: N/A
• Premarket Monday: N/A
• Postmarket Monday: JEF, MTN

Upgrades/Downgrades

Upgrades:

• HSBC upgrades BP (BP) from Hold to Buy
• HSBC upgrades Synopsys (SNPS) from Hold to Buy
• Bernstein upgrades 3M (MMM) from Underperform to Market Perform
• Barclays upgrades Humana (HUM) from Equal Weight to Overweight.

Downgrades:

• HSBC downgrades Twilio (TWLO) from Hold to Reduce
• BofA downgrades Nike (NKE) from Neutral to Underperform
• KeyBanc downgrades Comcast (CMCSA) from Sector Weight to Underweight

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.