Thomas White

Thomas White

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Energy
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U.S. Economy
Energy
A.I.
Earnings
U.S. Economy

U.S. Stock Futures Mixed as Oil Rises Ahead of CPI Data

PUBLISHED  | 2 min read
Thomas White

Thomas White

Co-Host
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U.S. stock futures are mixed in premarket trading ahead of the key CPI inflation report.

The moves come after slight losses for the major indices on Tuesday as earnings season kicked off. Investors today are focused on the September U.S. consumer price reading; economists anticipate inflation to have risen by 3.6% on a year-over-year basis, up from 3.4% in the prior reading and up 0.6% month-over-month. Core readings will be closely watched with expectations of a 0.2% gain month-over-month and a slight rise to 2.5% from 2.4% on a year-over-year basis.

The inflation report comes as oil prices continue to rise. Crude futures are up nearly 2% in premarket trading near $96 a barrel after the IEA warned that constraints on diesel markets could continue well into 2027.

Along with inflation data, investors will digest more earnings with reports due from Bank of America (BAC), Morgan Stanley (MS), and ASML Holding (ASML).

Snapshot

  • Oil (/CL) – Oil futures are up 1.9% $95.96 per barrel
  • Gold (/GC) – Gold futures are down 0.39% to $4,160 per ounce
  • Bitcoin (/BTC) – The cryptocurrency futures are up 0.22% to 83,565
  • VIX (/VIX) – The CBOE Volatility Index is up 0.39% to 15.33
  • U.S. Dollar ($DXY) – The dollar index is up 0.04% to 102.216

Biggest Premarket Movers

Advancers

  • BlackRock (BLK) +4.58%
  • Accenture (ACN) +3.96%
  • Albemarle (ALB) +2.89%
  • Weyerhaeuser (WY) +2.11%
  • Alphabet (GOOG) +1.22%

Decliners

  • Skydance (SKYD) -16.27%
  • State Street (STT) -4.37%
  • Bank of America (BAC) -4.10%
  • Fastenal (FAST) -3.75%
  • Hewlett Packard Enterprise (HPE) -3.52%

Economic Data (ET)

  • 5:40 AM: Fed's Bowman Speaks
  • 7:00 AM: MBA Mortgage Applications
  • 8:30 AM: CPI
  • 1:30 PM: Fed's Barkin Speaks
  • 2:00 PM: Beige Book

Notable Earnings

  • Premarket: ASML, BAC, BLK, FAST, MS, PGR, STT
  • Postmarket: N/A
  • Premarket Thursday: BNY, CMC, ERIC, FHN, MAN, MRSH, PLD, PNC, SCHW, TSM, USB
  • Postmarket Thursday: AA, IBKR, JBHT

Upgrades/Downgrades

Upgrades

  • Vertical Research upgrades Lockheed Martin (LMT) from Hold to Buy
  • Mizuho upgrades Albemarle (ALB) from Neutral to Outperform
  • Jefferies upgrades Texas Roadhouse (TXRH) from Hold to Buy
  • Jefferies upgrades Kontoor Brands (KTB) from Hold to Buy
  • BTIG upgrades Liquidia (LQDA) from Neutral to Buy

Downgrades

  • Barclays downgrades Dell Technologies (DELL), Hewlett Packard Enterprise (HPE), and NetApp (NTAP) from Overweight to Equal Weight
  • BofA downgrades Albertsons (ACI) from Neutral to Underperform
  • Goldman Sachs downgrades Carrier Global (CARR) from Buy to Neutral
  • Mizuho downgrades Chemours (CC) from Outperform to Neutral

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