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Pre-Market Performance
U.S. equity futures were modestly higher ahead of the open. Nasdaq 100 futures traded at 30,345.8, up 38.8 points (0.13%); S&P 500 futures were at 7,593.0, up 11.3 points (0.15%); and Dow Jones futures rose 155 points (0.31%) to 50,898.
European markets were mixed-to-firmer. The FTSE 100 was at 10,438.19, up 12.23 points (0.12%), after trading between 10,425.85 and 10,462.22. France’s CAC 40 advanced 47.46 points (0.58%) to 8,236.33, while Germany’s DAX slipped 14.51 points (0.06%) to 25,077.74.
In commodities and FX, crude oil fell as markets priced in a possible U.S.-Iran ceasefire extension and easing Strait of Hormuz concerns. Brent crude was around $90.87, down 1.60%, with July Brent futures near $92.05 (down 1.77%). WTI crude traded near $87.18 to $87.35, down about 1.5%–1.74%. Gold firmed, with spot near $4,532.03 an ounce and U.S. gold futures around $4,562.60. The U.S. Dollar Index was about 99.045, on track for a roughly 0.3% weekly decline; the euro traded near $1.1642, sterling near $1.3435, and USD/JPY around 159.30.
Hot News
- Global equities edge higher as U.S.-Iran deal hopes lift risk appetite Investors lifted risk assets as markets awaited confirmation of a possible U.S.-Iran ceasefire extension; AI-related strength also supported sentiment while U.S. futures remained positive after Thursday’s record close.
- Oil slides on potential Strait of Hormuz relief Brent and WTI fell nearly 2% as reports suggested Washington and Tehran could extend a ceasefire and ease shipping restrictions, pushing both contracts toward their sharpest weekly declines since early April.
- Dollar heads for weekly decline as geopolitical risk premium eases The dollar hovered near 99.045 on the DXY but was set for a small weekly loss as safe-haven demand faded; markets remained sensitive to Middle East headlines and the yen stayed close to the 160 per dollar level.
- Gold rebounds but remains on monthly-loss track Gold gained amid lower oil prices and easing near-term inflation concerns, though bullion remained on pace for a third consecutive monthly decline; spot gold traded near $4,532 and silver near $75.61.
- European shares supported by ceasefire expectations European equities were generally firmer as investors assessed reduced energy-market disruption, with the CAC 40 leading and the DAX lagging slightly.
U.S. Stock Focus
- Dell Technologies: AI server demand drives raised forecasts Dell raised its annual revenue and profit outlook as demand for Nvidia-powered AI servers accelerated; shares surged roughly 38.5% pre-market and the company forecast an AI-server revenue opportunity of about $60 billion.
- NetApp: Record quarterly results and AI storage demand NetApp reported fiscal Q4 net revenue of $1.948 billion (up 12% YoY) and highlighted record annual revenue, operating income, cash flow from operations, and free cash flow; all-flash array revenue reached a record $1.2 billion (up 18%).
- Autodesk: Strong Q1 results and MaintainX acquisition Autodesk reported fiscal Q1 revenue of $1.934 billion (up 18% YoY) with non-GAAP EPS of $2.99, and agreed to acquire MaintainX in an all-cash transaction valued at about $3.6 billion.
- Costco: Third-quarter sales and earnings rise Costco reported fiscal third-quarter net sales of $69.154 billion (up 11.6% YoY) and net income of about $2.19 billion, with diluted EPS rising to $4.93 from $4.28.
- Gap: Sales outlook cut despite earnings guidance lift Gap lowered its fiscal 2026 sales growth forecast to 1%–2% from 2%–3%, citing pressure on discretionary spending; shares fell about 15% in extended trading.
- American Eagle Outfitters: Record Q1 revenue but weak comps American Eagle reported record Q1 revenue of $1.2 billion (up 10% YoY) and operating profit of $28 million, though brand comparable sales fell 2% and the stock declined after hours.
- GlobalFoundries: Mubadala trims stake GlobalFoundries shares were active after Mubadala sold 22 million ordinary shares under Rule 144, reducing its holding to about 400 million shares (roughly 73%), creating a shareholder-supply overhang.
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