U.S. stock futures are modestly lower ahead of the Wall Street open as oil prices and yields are higher this morning.

The moves come after gains on Tuesday as the S&P 500 (SPX) and Nasdaq-100 (NDX) settled at record highs. Tech stocks led gains on Tuesday with Advanced Micro Devices (AMD) up 2.8% to a record high and Marvell Technologies (MRVL) higher by nearly 6% on raised guidance.

Yields are higher this morning and weighing on stocks with the benchmark 10-Year above 5.3%. Oil prices are modestly higher near $90 a barrel as possible further supply disruptions in the Middle East weighed on sentiment. Investor focus remains on yields and oil prices along with this afternoon’s release of the September FOMC meeting minutes.

Snapshot

• Oil (/CL) – Oil futures are up about 0.5% to near $90 per barrel
• Gold (/GC) – Gold futures are down about 1% to $4,143 per ounce
• Bitcoin (/BTC) – The cryptocurrency futures are down about 2.5% to near 83,740
• VIX (/VIX) – The CBOE Volatility Index is up about 5.7% near 15.80
• U.S. Dollar ($DXY) – The dollar index is up 0.53% to 102.375

Big Premarket Movers

Advancers

• Exxon Mobil (XOM) 0.73%
• Apple (AAPL) 0.69%
• NetApp (NTAP) 0.68%
• Costco Wholesale (COST) 0.68%
• ConocoPhillips (COP) 0.67%

Decliners

• Constellation Brands (STZ) -6.03%
• Bloom Energy (BE) -3.78%
• Ciena (CIEN) -3.45%
• Constellation Energy (CEG) -3.20%
• Lumentum Holdings (LITE) -2.95%

Economic Data (ET)

• 7:00 AM: MBA Mortgage Applications
• 10:30 AM: EIA Oil Inventories
• 1:00 PM: 10-Year Note Auction
• 2:00 PM: FOMC Minutes
• 3:00 PM: Consumer Credit

Notable Earnings

• Premarket: N/A
• Postmarket: APLD, LEVI
• Premarket Thursday: HELE, PEP, TLRY
• Postmarket Thursday: N/A

Upgrades/Downgrades

Upgrades:

• TD Cowen upgrades Marvell Technology (MRVL) from Hold to Buy
• Evercore ISI upgrades NetApp (NTAP) from In Line to Outperform
• Citi upgrades Flutter Entertainment (FLUT) from Neutral to Buy
• BNP Paribas upgrades Kroger (KR) from Neutral to Outperform
• Citi upgrades XPO (XPO) from Neutral to Buy
• Cantor Fitzgerald upgrades Humana (HUM) from Neutral to Overweight
• KeyBanc upgrades Corteva (CTVA) from Sector Weight to Overweight
• Keefe Bruyette upgrades Moelis (MC) from Market Perform to Outperform
• UBS upgrades Moelis (MC) from Sell to Neutral
• HSBC upgrades Allstate (ALL) from Hold to Buy

Downgrades:

• RBC Capital downgrades Owens Corning (OC) and Builders FirstSource (BLDR) from Outperform to Sector Perform, and Mohawk Industries (MHK) from Sector Perform to Underperform

For this week’s economic and earnings calendars, see: Week Ahead: FOMC Minutes Kick Off Final Quarter of 2026

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