The S&P 500 futures currently trade 11 points above fair value.
Eli Lilly (LLY 978.75, -10.37, -1.1%) trades lower in the premarket after HSBC downgraded the stock to Reduce from Hold, with a target price of $850.
On the earnings front, Academy Sports and Outdoors (ASO 53.80, -2.71, -4.8%) moves lower after the company missed EPS expectations by $0.08, missed revenue expectations, reported Q4 comparable sales of -1.6%, and guided FY27 EPS in-line with revenues below consensus