US stock futures are experiencing a downtrend in Tuesday's premarket trading session, marked by a relatively quiet economic calendar as investors prepare for a series of earnings reports scheduled for release this week. The Dow Jones Industrial Average futures showed a decrease of 0.43%, while S&P 500 futures fell by 0.47%, and Nasdaq futures dropped by 0.55%.
In the commodities market, oil prices are trending upwards, with front-month global benchmarks Brent crude and West Texas Intermediate crude witnessing increases of 0.73% and 0.87% respectively. In other notable financial news, Federal Reserve Bank of Philadelphia President Patrick Harker is set to deliver remarks later in the morning at a fintech conference.
Market participants will closely monitor his comments for insights into the Federal Reserve's impending monetary policy decisions. Additionally, the afternoon will see the American Petroleum Institute publish its weekly crude oil data, which is a key indicator of petroleum demand across the United States.
Turning to equities, shares of Genprex experienced a remarkable surge, skyrocketing by 121% in Tuesday's premarket trading after an incredible 260% rise on Monday. Ensysce Biosciences also saw its stock price leap by 89%, building on a previous 16% gain. Notably, shares of SRM Entertainment soared 52%, continuing from a gain of 3.6% observed on Monday.
Conversely, GRI Bio witnessed a sharp decline, with its shares plummeting by 24% following its announcement late Monday regarding the exercise of certain warrants at a considerably reduced exercise price of $1 per share. IN8bio's shares fell by 18%, reversing from a substantial 75% increase the previous session.
DMC Global also faced downward pressure, with a 17% drop in shares after the company lowered its Q3 sales guidance and flagged a significant $142 million noncash goodwill impairment charge..