NextFin News - May 8, 2026 | U.S. pre-market
1) Pre-Market Performance
U.S. equity futures point to a firmer open, with Nasdaq 100 futures leading gains at 28,897.8, up 215.5 points (0.75%). S&P 500 futures are at 7,399.8, up 36.8 points (0.50%), while Dow Jones futures trade at 49,854.0, up 154.0 points (0.31%).
European markets are softer this morning: FTSE 100 10,263.49 (-0.13%), CAC 40 8,129.64 (-0.88%) and DAX 24,418.79 (-0.99%).
Cross-asset tone is constructive for equities as oil has eased sharply from recent highs on hopes of a limited U.S.-Iran deal that could reopen the Strait of Hormuz and normalize crude flows, while gold is trading as a geopolitical hedge. The U.S. dollar index was around 97.85. Reuters noted global stocks climbing toward record levels as crude retreated below $100 a barrel. More
2) Macroeconomic Policy and Data
U.S. labor data remain resilient. Initial jobless claims for the week ended May 2 rose to 200,000 versus expectations of 205,000 and a prior revised 190,000, reinforcing the view that layoffs remain limited.
Attention today is on the April nonfarm payrolls report, with Reuters polling pointing to payroll growth of 62,000 after 178,000 in March. Markets will watch the unemployment rate and wage growth for confirmation on whether labor conditions are cooling only gradually or starting to soften more decisively. Preview
On inflation, the latest PCE update showed headline PCE at 2.8% year over year in February and core PCE at 3.0% year over year, both in line with expectations and still above the Fed's 2% target. Elevated energy risks have complicated the disinflation path.
The Federal Reserve held rates steady at its April 29, 2026 meeting, keeping the policy rate in a 3.5% to 3.75% range; the vote was its most divided in decades. Market pricing and several Wall Street forecasts have shifted toward no rate cuts in 2026. Fed reaction
For markets, a strong payrolls print would likely reinforce a higher-for-longer rate view, supporting the dollar and pressuring duration-sensitive sectors, while a softer report could revive expectations for eventual easing and extend the rotation into growth and long-duration equities.
3) Hot News
- Oil slump supports risk appetite U.S. stock futures have been buoyed by renewed drops in crude prices as traders respond to signs Washington and Tehran may be moving toward a limited agreement; reopening the Strait of Hormuz would reduce near-term supply risk. More
- Labor market becomes the next key catalyst With equities near record territory, investors are focused on whether the labor market remains strong enough to keep the Fed sidelined; the April payrolls release is the session's key macro event. More
- Chip sector tries to stabilize after supply concerns Semiconductor shares are attempting to recover after Arm’s post-earnings reversal highlighted that AI demand remains strong but supply bottlenecks are still a live issue, keeping investors selective within the broader AI trade. More
- U.S.-China diplomacy back in focus Investors are monitoring developments around a planned U.S.-China summit and a possible business delegation; stabilization in relations would be market-friendly for trade-sensitive sectors. More
4) U.S. Stock Focus
- Tesla The 2026 Model Y became the first vehicle to pass new U.S. driver-assistance system tests, supporting Tesla's positioning in advanced safety and autonomy, and China-made EV sales rose 36% year over year in April, marking a sixth straight monthly gain. More
- Nvidia Nvidia committed several billion dollars to help fund new Corning facilities tied to optical connectivity for AI systems, and Reuters reported the company was invited for high-level U.S. business outreach connected to a China trip—developments that matter for AI infrastructure and export access. More
- Apple Apple has held exploratory discussions about using Intel and Samsung to manufacture main processors in the U.S., signaling efforts to diversify beyond TSMC. More
- Intel Intel shares garnered support after reports that Apple is evaluating Intel's foundry services; landing Apple would validate Intel's foundry strategy and U.S. production ambitions. More
- Amazon AWS reported first-quarter revenue of $37.6 billion, up 28%, beating expectations and reinforcing that enterprise AI spending remains robust. More
- Arm Holdings Arm forecast revenue slightly above estimates and said it has secured $2 billion of customer demand for its AGI CPU across fiscal 2027–28, but shares reversed after management said supply has not yet been secured for part of that demand. More
- Lattice Semiconductor Lattice agreed to acquire AI cloud and platform management firm AMI for $1.65 billion, expanding its role in platform firmware and cloud/AI infrastructure manageability. More
Bottom line: Pre-market trading reflects a constructive risk backdrop, helped by lower oil and still-solid macro data, but the session will hinge on whether today’s payrolls report confirms that the economy remains strong enough to keep the Fed on hold without reigniting inflation fears.
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