U.S. stock futures are mixed in premarket trading as investors await earnings reports from major technology companies and a rate policy decision from the Federal Reserve due this afternoon.

The moves come after another day of gains Tuesday for the major indices once again led by tech. Chip stocks are higher this morning after Korean memory chip-maker SK Hynix (SKHY) beat earnings estimates overnight.

Investor focus will turn to monetary policy as the Fed wraps up its two-day policy meeting. The central bank is widely expected to keep interest rates steady at a target rate range of 3.75% to 4% this afternoon but will watch for commentary from Fed Chair Kevin Warsh. Tech earnings ramp up this afternoon with results due from Microsoft (MSFT), Alphabet (GOOGL), and ServiceNow (NOW) after the closing bell.

Snapshot

• Oil (/CL) – Oil futures are up 1.75% to $101.68 per barrel
• Gold (/GC) – Gold futures are down 0.32% to $4,074 per ounce
• Bitcoin (/BTC) – The cryptocurrency futures are up 0.74% to 81,345
• VIX (/VIX) – The CBOE Volatility Index is down 0.29% to 17.47
• U.S. Dollar ($DXY) – The dollar index is up 0.05% to 102.366

Big Premarket Movers

Advancers:

• Vertiv Holdings (VRT) 16.21%
• Flex (FLEX) 9.18%
• GE HealthCare Technologies (GEHC) 6.43%
• Masco (MAS) 5.10%
• PPG Industries (PPG) 5.05%

Decliners:

• Smurfit Westrock (SW) -11.02%
• NXP Semiconductors (NXPI) -7.89%
• CoStar Group (CSGP) -7.84%
• Robinhood Markets (HOOD) -7.50%
• F5 (FFIV) -7.26%

Economic Data (ET)

• 7:00 AM: MBA Mortgage Applications
• 8:30 AM: International Trade in Goods
• 8:30 AM: Retail/Wholesale Inventories
• 10:30 AM: EIA Oil Inventories
• 2:00 PM: FOMC Announcement
• 2:30 PM: Fed Chair Warsh Press Conference

Notable Earnings

• Premarket: ADP, AEP, AON, APH, AVTR, BIIB, BLCO, BSX, CHRW, CLH, DAN, DINO, EAT, EQNR, ETSY, EVR, FTV, GEHC, GEV, GNRC, GPI, GRMN, GSK, JLL, JMKE, LII, MAS, NI, ODFL, OTIS, PAG, PSN, PSX, STLA, TEX, UBS, ULCC, UMC, VFC, VRT, WING
• Postmarket: AEM, ALGN, AR, AWK, BHC, CMG, CP, CVNA, EBAY, EQIX, F, FDX, FLS, FTNT, GEN, GOOGL, HONA, KGC, KLAC, MGM, MSFT, MTH, NOW, NXT, ORLY, PLXS, PPC, SFM, TDOC, TMUS, WEX
• Premarket Thursday: ABEV, AGCO, AMP, AVY, BAX, BG, BLDR, BMY, BUD, BWA, CARR, CAT, CQP, CROX, CTSH, DHI, H, HII, HOG, HSY, INCY, KBR, LHX, LIN, LLY, LNG, MA, MBLY, MO, MRK, NCLH, OSK, OWL, PWR, QSR, SAH, SHEL, SIRI, STM, TECK, THC, TROW, TT, TTE, TW, TXT, VMC, WTW, XEL, XPO, XRX
• Postmarket Thursday: AMZN, COIN, DLR, DVA, DXC, EMN, FND, FSLR, GDDY, GILD, ILMN, INTC, IR, MDLZ, MHK, MSTR, MTZ, OLN, PINS, RBLX, RDDT, RIVN, RMD, RSG, SBUX, SNDK, SNDR, SNDR, SYK, TWLO, VALE, WY

Upgrades/Downgrades

Upgrades:

• Langenberg upgrades Boeing (BA)
• DZ Bank upgrades Texas Instruments (TXN) from Sell to Hold
• BNP Paribas upgrades Pentair (PNR) from Underperform to Neutral

Downgrades:

• Piper Sandler downgrades F5 (FFIV) from Overweight to Neutral
• Oppenheimer downgrades Enphase Energy (ENPH) from Outperform to Perform
• Stifel downgrades Whirlpool (WHR) from Hold to Sell
• JPMorgan downgrades Xylem (XYL) from Neutral to Underweight

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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.