Premarket Shares Rise as Oil and Treasury Yields Ease
Intel rose 3.8% after a JPMorgan upgrade; Broadcom gained 2.3%, CoreWeave 1.3% and Nvidia 1.1%. Brent fell about 1.8% toward $107 a barrel, and the 10-year Treasury yield eased to 5.085%. The October NAHB Housing Market Index is scheduled for 10:00 a.m. ET; Cleveland-Cliffs and Fifth Third Bancorp report before the open.
In premarket trading, Intel climbed 3.8% after JPMorgan upgraded the stock. Broadcom added 2.3%, CoreWeave rose 1.3% and Nvidia advanced 1.1%. Brent crude fell approximately 1.8% toward $107 per barrel, and the 10-year Treasury yield eased to 5.085%, offering relief to growth stocks. The economic calendar for today includes the October NAHB Housing Market Index at 10:00 AM ET.
Cleveland-Cliffs and Fifth Third Bancorp are scheduled to report earnings before the opening bell. Investors are preparing for reports from Netflix, Tesla, Meta Platforms, GE Aerospace, IBM and Texas Instruments later this week. AI spending, profitability and forward guidance are key areas of focus. The Federal Reserve is in its pre-meeting blackout period ahead of the October 27—28 FOMC meeting.
Markets are therefore focused on economic data and earnings. AI-sector recovery, oil prices, Treasury yields, corporate earnings and Fed rate expectations remain primary catalysts today.