US PREMARKET ACTIONS: January 8, 2026
Futures Indices:
- Dow Futures: -0.35%
- S&P 500 Futures: +0.17%
- Nasdaq 100 Futures: -0.25%
Market Environment
US markets are moving in mixed directions this Thursday before the open, as investors digest geopolitical tensions and budget announcements from Donald Trump. The president-elect has proposed a massive increase in the defense budget for 2027, to $1.5 trillion, compared to $901 billion already approved for 2026. This announcement comes after a successful US military operation in Venezuela, leading to the capture of Nicolás Maduro.
"We are living in very troubled and dangerous times," Trump justified on social media.
This outlook boosted defense stocks, while bond yields are ticking slightly higher. The US 10-year yield climbs to 4.17%, and the 2-year to 3.48%.
On the macroeconomic side, labor market figures will be closely watched today with:
The Challenger report on job cuts at 1:30 PM
Weekly jobless claims at 2:30 PM
The international trade report at the same time
Finally, the Supreme Court could rule as early as Friday on the legality of the reciprocal tariffs imposed by Trump, a decision eagerly awaited by the markets.
Stocks to Watch Today
Globus Medical (GMED) +9%
The group posted strong guidance: Q4 2025 revenue expected at $823.2M (+25% YoY), beating expectations. 2026 outlook is also above consensus, as is the non-GAAP EPS forecasted between $4.30 and $4.40.
Lockheed Martin (LMT) +7%
Riding Trump's announcements on the military budget, the stock soars. Investors anticipate a massive inflow of orders for major defense groups.
Northrop Grumman (NOC) +6%, L3Harris (LHX) +6.3%, RTX (RTX) +4.6%, General Dynamics (GD) +4%
Same sector dynamic as Lockheed Martin, with a rapid rotation toward defensive stocks.
Constellation Brands (STZ) +1.9%
The group confirmed its annual targets and reported quarterly results above expectations, driven by demand for its premium beer brands.
Intel (INTC) -0.1%
Slight consolidation after a 6.5% rally on Wednesday. No specific catalyst in pre-market.
Canadian Solar (CSIQ) -6%
The group is launching a $200M convertible issuance to fund its solar production and storage projects in the US. The market is reacting negatively to this potential dilution.
Vanda Pharmaceuticals (VNDA) -11%
The FDA rejected the request to extend the labeling of its drug Hetlioz due to insufficient evidence of its efficacy against jetlag.
Recommendation Changes
Upgrades
Alphabet Inc. ($GOOGL) → Cantor Fitzgerald upgrades to Overweight (from Neutral) and raises the price target from $310 to $370.
Chubb Limited ($CB) → Goldman Sachs upgrades to Buy (from Neutral) with a revised target of $351 (vs $309).
Elevance Health Inc. ($ELV) → Wolfe Research upgrades to Outperform with a target of $425.
Ford Motor Company ($F) → Piper Sandler upgrades to Overweight (vs Neutral) with a revised target of $16 (vs $11).
General Motors Company ($GM) → Piper Sandler upgrades to Overweight (vs Neutral) with a target of $98 (vs $66).
Jack Henry & Associates ($JKHY) → Wolfe Research upgrades to Outperform, target: $220.
Stellantis N.V. ($STLA) → Piper Sandler upgrades to Overweight (vs Neutral), target raised from $9 to $15.
The Gap Inc. ($GPS) → UBS upgrades to Buy (vs Neutral), target raised to $41 (vs $26).
Neutral
The Travelers Companies ($TRV) → Goldman Sachs maintains Neutral rating but raises the target from $302 to $304.
Downgrades
Ball Corporation ($BALL) → Morgan Stanley downgrades to Market Weight (vs Overweight), lower target of $63 (vs $68).
BorgWarner Inc. ($BWA) → Piper Sandler downgrades to Neutral (vs Overweight), target reduced to $51 (vs $52).
Clarivate Plc ($CLVT) → Goldman Sachs downgrades to Neutral (vs Buy), target cut to $3.60 (vs $4.20).
Extra Space Storage Inc. ($EXR) → Scotiabank downgrades to Sector Perform, target $145 (vs $162).
Icon Plc ($ICLR) → Truist Securities downgrades to Hold (vs Buy), target lowered to $222 (vs $231).
Invitation Homes Inc. ($INVH) → Mizuho downgrades to Neutral (vs Outperform), target reduced to $27 (vs $30).
Leidos Holdings Inc. ($LDOS) → Stifel downgrades to Hold (vs Buy), target maintained at $220.
Toast Inc. ($TOST) → Wolfe Research downgrades to Peerperform (vs Outperform).
Have a good session, everyone.