Fed Minutes and Earnings Shake Up U.S. Premarket Trading

Key Moments

U.S. stock futures traded lower as investors reacted to hawkish Federal Reserve minutes and a busy earnings slate.
Deere & Company (NYSE:DE) gained 5% after lifting its full-year net income forecast, helped by prior cost-cutting efforts.
Carvana (NYSE:CVNA), Wayfair (NYSE:W), and Walmart (NASDAQ:WMT) all moved sharply lower in premarket action following earnings and outlook updates.

Market Overview

U.S. stock futures edged down on Thursday as investors weighed a more hawkish tone in the latest Federal Reserve meeting minutes alongside a fresh batch of corporate earnings reports. The combination of monetary policy concerns and company-specific news drove notable premarket moves across several high-profile names.

Notable Premarket Movers

Company	Exchange / Ticker	Premarket Move	Key Driver
Walmart	NASDAQ:WMT	-2.9%	Current-year income forecast below expectations and warnings of “substantial uncertainty”
Deere & Company	NYSE:DE	+5%	Raised full-year net income forecast, aided by earlier cost-cutting
Carvana	NYSE:CVNA	-12%	Fourth-quarter profit missed expectations amid higher-than-anticipated costs
Etsy	NYSE:ETSY	+20%	Announced sale of Depop to eBay for $1.2 billion
eBay	NASDAQ:EBAY	+8.7%	Buyer of Depop in $1.2 billion transaction
Wayfair	NYSE:W	-9%	Q4 earnings beat estimates but outlook failed to impress investors
DoorDash	NASDAQ:DASH	+10%	Q1 marketplace gross order value forecast came in above expectations
Hims Hers Health	NYSE:HIMS	+6.4%	Announced acquisition of Eucalyptus in a deal valued at up to $1.15 billion
Figma	NYSE:FIG	+10%	Quarterly results and 2026 sales outlook topped expectations
Occidental Petroleum	NYSE:OXY	+4.7%	Beat fourth-quarter profit expectations despite lower oil prices

Retail and Consumer Names Under Pressure

Walmart (NASDAQ:WMT) declined 2.9% in premarket trading after the retailer’s current-year income guidance fell short of market expectations. The company highlighted “substantial uncertainty” affecting its outlook, citing factors including currency movements, tariffs, customer spending patterns, and broader global events.

Carvana (NYSE:CVNA) slid 12% after the online used-car platform reported fourth-quarter profit that did not meet expectations. The company was pressured by costs that came in higher than anticipated.

Wayfair (NYSE:W) dropped 9% even though the online home furnishings company delivered fourth-quarter earnings that exceeded forecasts. Investor reaction suggested concerns about the company’s overall performance and future outlook.

Industrial and Energy Gainers

Deere & Company (NYSE:DE) advanced 5% after the farm-machinery manufacturer raised its full-year net income forecast. The company benefited from cost-cutting initiatives undertaken earlier, which helped offset the impact of softer demand for equipment.

Occidental Petroleum (NYSE:OXY) rose 4.7% following a fourth-quarter earnings report that surpassed profit expectations. This outperformance came despite a backdrop of depressed oil prices.

Tech, Platforms, and Online Services in Focus

Etsy (NYSE:ETSY) jumped 20% after the online marketplace said it would sell Depop, a rapidly growing second-hand clothing app, to eBay (NASDAQ:EBAY) for $1.2 billion. Shares of eBay were up 8.7% on the news.

DoorDash (NASDAQ:DASH) gained 10% after the food delivery platform projected first-quarter marketplace gross order value above expectations. The company pointed to consistent demand and robust expansion efforts across grocery, retail, and international segments.

Hims Hers Health (NYSE:HIMS) climbed 6.4% after the U.S.-based telehealth company announced plans to acquire Australian digital health firm Eucalyptus in a transaction valued at up to $1.15 billion. The deal is intended to expand its personalized care offerings into additional international markets.

Figma (NYSE:FIG) added 10% in premarket trading as the design software company reported quarterly results that exceeded expectations and provided a 2026 sales outlook that also came in ahead of forecasts.