U.S. stock futures are higher in premarket trading with investors monitoring technology shares after last week’s slide.

The moves come after a stock rebound on Friday although the tech-heavy Nasdaq-100 fell nearly 5% last week. Tech will also be in focus on the back of news that the Nvidia (NVDA) board of directors is opening investigating co-founder and CEO Jensen Huang’s relationship with a businesswoman who U.S. intelligence agencies say is a Chinese spy. Nvidia shares are down about 5% in premarket trading.

Investors will be focusing on earnings and economic data this week. Reports are due from CoreWeave (CRWV), Applied Materials (AMAT) and Cisco (CSCO) this week. On the data front, traders will look at Tuesday’s CPI report for clarity on inflation.

Snapshot

• Oil (/CL) – Oil futures are down 3.6% $87.58 per barrel
• Gold (/GC) – Gold futures are up 1.4% to $4,132.20
• Bitcoin (/BTC) – The cryptocurrency futures are down 1.15% to 75,085
• VIX (/VIX) – The CBOE Volatility Index is down 11% to 22.76
• U.S. Dollar ($DXY) – The dollar index is down 0.42% to 101.875

Big Premarket Movers

Advancers

• International Flavors & Fragrances (IFF) 6.58%
• NRG Energy (NRG) 4.88%
• United Airlines (UAL) 4.00%
• Advanced Micro Devices (AMD) 4.00%
• Freeport-McMoRan (FCX) 3.65%

Decliners

• Akamai Technologies (AKAM) -6.13%
• Nvidia (NVDA) -5.14%
• Super Micro Computer (SMCI) -2.33%
• Gartner (IT) -2.03%
• Coinbase (COIN) -1.70%

Economic Data (ET)

• 8:40 AM: Fed’s Bowman Speaks
• 10:00 AM: Fed’s Goolsbee Speaks
• 10:00 AM: Wholesale Inventories
• 12:15 PM: Fed’s Barkin Speaks
• 1:00 PM: 3-Year Note Auction

Notable Earnings

• Premarket: B, CEG, CNH, DOLE, EVGO, FERG, KKR, MNDY, NRG, RBA, RDNT, SEAT, VRTS
• Postmarket: ACHR, AMCX, ASTS, BAP, HIMS, HRB, IHRT, LCID, MARA, OXY, RKLB, RXT, SKYD, TTD, TTWO, ZETA, ZIP N/A
• Premarket Tuesday: HMC, ONON, QBTS, SBH, SE, TDG, VG, WIX
• Postmarket Tuesday: BV, CRWV, FLY, GO, RGTI, SONO

Upgrades/Downgrades

Upgrades:

• Oppenheimer upgrades Advanced Micro Devices (AMD) from Perform to Outperform
• Rothschild & Co Redburn upgrades Airbnb (ABNB) from Sell to Neutral
• Citi upgrades Rollins (ROL) from Neutral to Buy
• Jefferies upgrades Tripadvisor (TRIP) from Underperform to Hold

Downgrades:

• Aletheia downgrades Nvidia (NVDA) from Buy to Hold
• Stifel downgrades DraftKings (DKNG) from Buy to Hold
• UBS downgrades DraftKings (DKNG) from Buy to Neutral
• JPMorgan downgrades DraftKings (DKNG) from Overweight to Neutral
• JPMorgan downgrades Molson Coors (TAP) from Neutral to Underweight
• KeyBanc downgrades Zillow Group (ZG) from Overweight to Sector Weight
• Rothschild & Co Redburn downgrades TransUnion (TRU) from Buy to Neutral
• Jefferies downgrades Beta Technologies (BETA) from Buy to Hold

Also see:

• Week Ahead: Inflation Data, Neocloud and Space Earnings
• Week in Review: Bulls, Bears Battle as Tech Selloff Permeates Sectors

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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