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Pre-Market Performance
U.S. equity futures were mixed, with the Nasdaq 100 contract holding gains while broader blue-chip futures eased. Nasdaq 100 futures rose 66.5 points, or 0.22%, to 30,779.3. S&P 500 futures slipped 7.75 points, or 0.10%, to 7,616.0, while Dow Jones futures fell 146 points, or 0.28%, to 51,254.
European equities were mostly lower. The FTSE 100 traded at 10,338.65, down 34.86 points, or 0.34%, after moving between 10,322.36 and 10,383.07. France’s CAC 40 stood at 8,191.64, down 17.45 points, or 0.21%, while Germany’s DAX underperformed at 24,918.64, down 205.53 points, or 0.82%.
Commodities were led by another rise in crude oil as Middle East tensions kept supply-risk premiums elevated. Brent crude traded around $97.46 to $97.56 per barrel, up roughly 1.5% to 1.6%, while WTI crude traded around $95.23 to $95.40 per barrel, up roughly 1.6% to 2.0%. U.S. gold futures eased 0.3% to $4,504.40 as higher oil prices reinforced inflation and rate concerns. The U.S. Dollar Index was around 99.17, while the dollar pushed close to the psychologically important 160 yen level.
Hot News
- Oil climbs as Middle East risks return to the center of market pricing — Crude prices advanced after renewed hostilities in the Gulf raised concern over possible supply disruptions, keeping inflation risk in focus and helping explain the cautious tone in S&P 500 and Dow futures despite continued strength in AI-linked names.
- AI enthusiasm continues to support risk appetite — AI-related momentum remained a key offset to geopolitical pressure, with Marvell’s surge after Nvidia CEO Jensen Huang’s comments reinforcing investor appetite for infrastructure, networking and custom-silicon exposure.
- OECD warns energy shock could weigh on growth and inflation — The OECD said global resilience is being tested by Middle East conflict and energy-market uncertainty, with risks tied to prolonged disruption in oil, gas and fertilizer markets, adding to investor sensitivity around crude prices and long-duration growth stocks.
- API crude draw adds support to oil move — Oil’s rise was also supported by industry data showing a larger-than-expected U.S. crude inventory draw, reinforcing near-term tightness ahead of the U.S. open.
U.S. Stock Focus
- Marvell Technology: AI rally extends after Nvidia CEO endorsement — Marvell remained in focus after Nvidia CEO Jensen Huang called the chipmaker the “next trillion-dollar company,” driving a nearly one-third one-day surge; shares were reported up another 15% in pre-market trading, lifting Marvell’s market value above $290 billion.
- GameStop: Record quarterly net income and $2 billion buyback — GameStop reported first-quarter net income of $389.6 million, the company’s highest quarterly net income, and the board approved a $2.0 billion discretionary share repurchase authorization through June 2, 2029.
- Medtronic: Q4 revenue beats guidance and dividend rises — Medtronic reported fiscal Q4 revenue of $9.8 billion, up 9.9% as reported and 6.6% organically, with non-GAAP EPS of $1.55, and raised its quarterly dividend to $0.72 per ordinary share.
- Macy’s: Shares rise after outlook upgrade — Macy’s raised its annual outlook after a fourth straight quarter of comparable sales gains, with comparable sales up 3% and Bloomingdale’s up 10.2%.
- Broadcom: Q2 results due after the close — Broadcom is scheduled to report fiscal Q2 results after the close, with investors focused on AI semiconductor revenue, custom accelerator demand and VMware-related software contribution following prior guidance for roughly $22.0 billion in fiscal Q2 revenue.
- CrowdStrike: Cybersecurity earnings on deck — CrowdStrike reports after the close, with consensus expectations near $1.07 EPS and $1.36 billion in revenue; focus will be on ARR growth, customer expansion and demand for the Falcon platform.
- Veeva Systems: Fiscal Q1 results expected after market close — Veeva will report fiscal Q1 results after the close, with consensus estimates around $870.7 million in revenue and $2.17 in EPS, and investors watching Vault CRM adoption and life-sciences software spending.
- HIVE Digital Technologies: Revenue jumps on Bitcoin mining and HPC growth — HIVE reported fiscal 2026 total revenue of $297.8 million, up 158% year-over-year, with digital currency revenue rising 164% to $278.3 million as it positions its BUZZ high-performance computing business for AI infrastructure growth.
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