U.S. stock futures are relatively flat in premarket trading after a record-setting session Thursday with the S&P 500 (SPX) and Russell 2000 (RUT) closing at record highs.

Yesterday’s gains put the S&P 500 and Nasdaq-100 on pace for their third straight weekly advances. Positive earnings have been the driver for stocks this quarter. More than 90% of S&P 500 companies have posted Q2 results, and earnings growth year-over-year is around 50%, according to FactSet.

Oil prices are up slightly near $81.50 a barrel after falling more than 2% on Thursday. Investor focus remains on geopolitical headlines today along with economic data including retail sales and consumer sentiment. 

Snapshot (as of 8 AM ET)

• Oil (/CL) – Oil futures are up 0.30% to $81.49 per barrel
• Gold (/GC) – Gold futures are up 0.06% to 4,423.10 per ounce
• Bitcoin (/BTC) – The cryptocurrency futures are down 0.91% to 62,900
• VIX (/VIX) – The CBOE Volatility Index is down 0.82% to 14.51
• U.S. Dollar ($DXY) – The dollar index is down -0.36% to 99.605

Big Premarket Movers (as of 8 AM ET)

Advancers:

• SanDisk (SNDK) 6.69%
• Western Digital (WDC) 3.68%
• Micron Technology (MU) 3.02%
• Seagate Technology Holdings (STX) 2.35%
• Boston Scientific (BSX) 2.26%

Decliners:

• Applied Materials (AMAT) -5.68%
• Stryker (SYK) -1.80%
• The Trade Desk (TTD) -1.17%
• The Mosaic Company (MOS) -0.83%
• Coinbase Global (COIN) -0.71%

Economic Data (ET)

• 8:30 AM: Retail Sales
• 10:00 AM: Consumer Sentiment
• 10:00 AM: Business Inventories

Notable Earnings

• Premarket: N/A
• Postmarket: N/A
• Premarket Monday: N/A
• Postmarket Monday: FN, XP

Upgrades/Downgrades

• JPMorgan and Wells Fargo upgrade Fox Corp. (FOXA) to Overweight from Neutral, and to Overweight from Equal Weight, respectively
• Bernstein upgrades Wayfair (W) to Outperform from Market Perform
• Stifel upgrades Intuitive Machines (LUNR) to Buy from Hold
• Wolfe Research downgrades T-Mobile (TMUS) to Peer Perform from Outperform
• Wells Fargo downgrades Roku (ROKU) to Equal Weight from Overweight
• Northcoast downgrades Brinker International (EAT) to Neutral 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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