Markets are lower heading into the weekend with S&P futures (/ES) down -0.14% and Russell 2000 futures (/RTY) down -0.33%.

Tensions between the United States and Iran remains high as traders weigh the prospects of a U.S. military strike over the weekend. Meanwhile, WTI Crude Oil futures (/CL) broke above 67 to notch their highest level since August.

Investors today also may see new information about the legality of the Trump administration’s sweeping tariffs, with the Supreme Court expected to issue opinions this morning and rulings next week.

It’s a busy day for economic data with fourth-quarter GDP, Personal Income and Spending, Consumer Sentiment, and New Home Sales on the docket today. However, it’s a lighter day for earnings; look ahead to Domino’s Pizza (DPZ) and Dominion Energy (D) on Monday. 

Snapshot (as of 7 AM ET)

• Oil (/CL) – Oil prices are down -0.4% to around $66.10/barrel.
• Gold (/GC) – Gold futures are up +0.9% near 5,041 after a +0.4% upside move yesterday.
• Bitcoin (/BTC) – The cryptocurrency futures are up +0.5% around 67,500 following a +0.9% gain in the previous session.
• VIX – Volatility rose as the VIX closed at 20.23 yesterday, up from 19.62 on Wednesday.
• U.S. Dollar (/DX) – The greenback is flat in early trading near 97.8, following a +0.13% gain yesterday.

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

1. Applovin (APP): +4.62%
2. Comfort Systems (FIX): +3.46%
3. Alphabet (GOOGL): +1.04%
4. CoStar Group (CSGP): +0.98%
5. GE Aerospace (GE): +0.82%

1. Akamai (AKAM): -10.80%
2. Copart (CPRT): -7.07%
3. Newmont (NEM): -3.60%
4. LyondellBasell (LYB): -2.86%
5. PPL (PPL): -1.95%

Economic Data

• 8:30 AM ET: GDP, Personal Income & Outlays (Delayed)
• 9:45 AM ET: PMI Composite Flash, Fed’s Bostic Speaks
• 10:00 AM ET: New Home Sales (Delayed), Consumer Sentiment
• 1:00 PM ET: Baker Hughes Rig Count
• 3:30 PM ET: Fed’s Musalem Speaks

Notable Earnings

• Premarket: AU, WU
• Postmarket: None
• Premarket Monday: D, DPZ
• Postmarket Monday: OKE, FANG, KEYS, VNOM, KTOS, HIMS

Upgrades/Downgrades

• Wells Fargo upgrades Southern Company (SO) to Equal Weight from Underweight
• Jefferies upgrades CoStar Group (CSGP) to Buy from Hold
• Argues upgrades Deckers Outdoor (DECK) to Buy from Hold
• HSBC downgrades Walmart (WMT) to Hold from Buy
• Wells Fargo downgrades Molina Healthcare (MOH) to Equal Weight from Overweight
• HSBC downgrades TechnipFMC (FTI) to Hold from Buy

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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