NEW YORK (TheStreet) -- U.S. futures were drifting lower in premarket trading Monday, following a week in which markets continued to show volatility as they remain at the mercy of fluctuating crude prices.
SunEdison (SUNE) is defying the market trend premarket, however, rising another 4.5% after climbing 120% overnight between Thursday and Friday and closing Friday's session up another 31%. The move came after the solar energy company won a lawsuit that sought to stop its acquisition of rooftop panel installation firm Vivint Solar (VSLR).
Today is the final day of trading in February thanks to Leap Day. Stocks have a chance to break a two-month losing streak and close the month in positive territory. Last week the S&P 500 posted just its fourth weekly rise, climbing 1.6%, while the Dow Jones Industrial Average rose 1.5% and the Nasdaq gained 1.9%.
Economic indicators such as the existing and new home sales numbers and EIA Petroleum Status report also affected markets last week. The revised U.S. fourth-quarter GDP growth numbers -- released Friday morning -- provided a tailwind for markets at the end of the week. The U.S. gross domestic product increased at a 1% annualized rate in the fourth quarter, higher than the previously reported 0.7% rise and better than analysts' expectations of a downward revision to 0.4%.
Oil futures were climbing Sunday night as the commodity looks to build off a week in which prices rose 15%. West Texas crude futures contracts for April delivery are up $0.11 to $32.89 per barrel, while industry benchmark Brent crude futures for April delivery are up $0.05 to $35.15 per barrel.
On Saturday, Warren Buffett's Berkshire Hathaway (BRK.B) reported a 32% rise in its fourth-quarter profit to $5.48 billion. Quarterly operating profit climbed 18% to $4.67 billion, or $2,843 per share, topping Thomson Reuters' consensus estimates of $2,814 per share. Revenue for the quarter jumped 7% to $51.82 billion.
Looking to the week ahead, Real Money's Jim Cramer told his "Mad Money" viewers on Friday that retail will be in the spotlight on Tuesday as he will be watching the earnings releases of Dollar Tree (DLTR) and Ross Stores (ROST).
Analyst meetings will be on Cramer's radar Wednesday as Action Alerts PLUS holdingTarget (TGT), Exxon Mobil (XOM) and Honeywell (HON) all hold analyst meetings.
On Friday, Wall Street will be paying attention to the release of the February nonfarm payroll numbers. Analysts are expecting a 190,000 rise in February after a disappointing January that saw 151,000 jobs added. The country's unemployment rate is expected to hold at 4.9%, while average hourly earnings are expected to slow to plus 0.2%.
This weekend, Bloomberg ran a story about how gold's rally is the biggest economic story of 2016 so far.
"Turmoil across global equity and currency markets has sparked demand for a haven. Speculators raised their net-long position in gold to the highest in a year," wrote Bloomberg's Luzi-Ann Javier. "SPDR Gold Shares, the world's largest bullion exchange-traded fund, attracted $4.5 billion of new money in 2016, the most among all U.S.-listed ETFs, according to Bloomberg data as of Feb. 25. It's a turnaround from just a few months ago, when investors were selling the metal, sending prices in December to a five-year low."
Finally, Barron's cover story this weekend spotlighted investment management firm AQR Capital Management and its liquid-alt mutual funds.
"Since U.S. stocks peaked in July, few investments have produced strong returns. Global stocks, junk bonds, and most commodities have declined-in many cases, sharply. And many so-called alternative investments have failed to provide hoped-for diversification benefits. Just look at the big losses suffered by some notable hedge funds," wroteBarron's contributor Andrew Barry.