Oil Prices & Company News

Good morning. Premarket futures are lower amid record high oil prices and a Goldman Sachs prediction for $200 oil.

In other news, a larger than expected loss, dividend cut, and more capital raising at Fannie Mae and disappointing news from homebuilder D.R. Horton (DHI) don't exactly make investors feel like the worst is over. Overseas markets were mixed and treasury prices are on the rise.

Premarket gainers: ATSI, DIVX, PWAV, ECLP, AFAM, APC, AU, ARG, WEL, ARMH, CRBC, MCK, DROOY, WEL, GOLD, TASR, TKLC, VCLK, VNDA, MICC, DRYS, YHOO, CALM, and SOHU.

Premarket losers: OMPI, VM, CIM, SMG, FNM, FRE, WTW, DHI, JRCC, OTTR, PRGO, BRCM, SHPGY, Q, CLF, RYAAY, JOYG, and KTII.

No economic reports are on the calendar so direction will be dependent on oil prices and company news. After the closing bell, investors will be hoping for really good news from Cisco Systems (CSCO) and Disney (DIS) to set the tone for tomorrow's session.

We'll see if the bears can take advantage of this morning's negative sentiment. Have a terrific Tuesday!