FINWIRES · TerminalLIVE
FINWIRES

US Equity Futures Edge Lower Pre-Bell as Nvidia Stock Flat Despite Earnings Beat, Middle East Peace Talks Drag

By

US equity futures were edging lower pre-bell Thursday despite upbeat fiscal Q1 financial results posted by Nvidia (NVDA) and amid continued lack of solid progress in the Middle East peace talks.

Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.4%, and Nasdaq futures were 0.5% lower.

In addition to surpassing analysts' expectations for fiscal Q1 adjusted earnings and revenue, Nvidia raised its quarterly dividend and announced an additional $80 billion share repurchase authorization. However, the company's stock was largely flat in premarket activity.

President Donald Trump said the US was ready to resume attacks on Iran if its leadership did not agree to a peace deal, but that it could wait a few days. Iran's Supreme Leader has ordered the country's highly enriched uranium to not be sent abroad, which is one of the main US demands, according to a Reuters report citing two senior Iranian sources.

Traders kept an eye on the latest round of earnings, with Walmart (WMT) posting higher fiscal Q1 adjusted earnings and revenue.

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.7% at $106.80 per barrel and US West Texas Intermediate crude 2.4% higher at $100.62 per barrel.

US initial jobless claims fell to a level of 209,000 in the employment survey week ended May 16 from an upwardly revised 212,000 level in the previous week, compared with expectations for a smaller decrease to 210,000 in survey of analysts compiled by Bloomberg as of 7:30 am ET.

April housing starts fell by 2.8% from the previous month to a 1.465 million annual rate, compared with expectations compiled by Bloomberg as of 7:30 am ET for a 1.410 million rate after an increase to a 1.507 million pace in March.

The Philadelphia Federal Reserve's monthly manufacturing index fell to minus 0.4 in May after rising to 26.7 in April, compared with expectations for a smaller decrease to a reading of 17.8 in a survey compiled by Bloomberg.

The May S&P Global Composite Purchasing Managers' Index, due at 9:45 am ET, is seen coming in at 53.8.

Richmond Federal Reserve President Thomas Barkin is scheduled to speak on Thursday.

In other world markets, Japan's Nikkei closed 3.1% higher, Hong Kong's Hang Seng ended 1% lower, and China's Shanghai Composite finished 2% lower. Meanwhile, the UK's FTSE 100 was down 0.3%, and Germany's DAX index was 0.5% lower in Europe's early afternoon session.

In equities, Shell (SHEL) stock was up 1.2% and BP (BP) shares rose 1% after the companies, along with Indonesia's PT Perusahaan Gas Negara, and PT PLN Energi Primer Indonesia, signed agreements with Japan's Inpex for liquified natural gas offtake from the Abadi LNG Project at the Masela Block in offshore Indonesia. Shares of IBM (IBM), GlobalFoundries (GFS), and D-Wave Quantum (QBTS) were up after the companies said they are included among the major quantum companies set to receive billions in proposed US government backing. IBM stock was up 5.8%, GlobalFoundries shares rose 13%, and D-Wave Quantum stock was 15% higher.

On the losing side, Intuit (INTU) stock was 16% lower after RBC and Northcoast Research cut their price targets for the stock. Palantir Technologies (PLTR) shares were down 1.2% following an Axios report about the company challenging Pentagon's Defense Intelligence Agency over its ability to bid for a contract to modernize the agency's data analytics system.

Related Articles

Asia Markets

Tadawul Shares Head to Eid Holidays in Green; Saudi Arabia's March Exports Rise, Imports Decline

The Tadawul All Share Index closed 0.38% in the green at Thursday's close as market watchers assessed Saudi Arabia's latest set of economic releases.Kingdom Holding Co. (SASE:4280) gained the most at 8.33% during the session, which is the week's last trading day, as the Saudi bourse closes until May 31 for the Eid Al Adha Holiday.Saudi Arabia's March trade surplus increased to 57.44 billion Saudi riyals from the prior month's 19.09 billion riyals, as merchandise exports surged 21.5% year over year. Imports, however, dropped 24.8% for the reporting month."'Machinery, electrical equipment and parts' were among the most important non-oil export commodities, accounting for 27.4% of the total non-oil exports and increased by 46.2% compared with March 2025," the statistics agency said in its report. "On the import side, the most important imported commodities were 'machinery, electrical equipment and parts', which accounted for 30.4% of total imports and decreased by 11.9% compared with March 2025, followed by 'chemical products and allied industries,' which accounted for 9.9% of total imports and decreased by 18.5% compared with March 2025."Additionally, the kingdom's construction cost index rose 2.4% annually in April from the prior month's 2% increase. The growth was attributed to a climb in residential and non-residential construction costs, the General Authority for Statistics said.On the corporate front, Alinma Bank (SASE:1150) ticked up 0.59% as the lender finalized its 3 billion-Saudi-riyal additional tier 1 sukuk and $500 million sustainable additional tier 1 capital certificate offerings.Meanwhile, Al-Modawat Specialized Medical (SASE:9594) posted mixed financial results for the first quarter of 2026. Net profit for the three months ended March 31 declined 48.024% year over year, while revenue was up 21.712% year over year. Shares of the hospital services company closed 1.66% higher. *

$^TASI$SASE:1150$SASE:4280$SASE:9594
Asia Markets

UAE Stocks Blink Green on US-Iran Deal Optimism

Stock trading in the United Arab Emirates closed higher on Thursday as prospects of a deal between the US and Iran boosted market sentiment.At the close of trading, the FTSE ADX General Index gained 0.399%, while the DFM General Index was up 0.60%.According to reports by multiple media outlets, Iran is reviewing a new US proposal aimed at ending the conflict in the Middle East. US President Donald Trump said he could wait a few days to get the right answers from Iran and threatened escalation in case a deal is not reached."For the second time this May, markets are trying to trade a US-Iran peace deal after President Trump said negotiations were in their 'final stages'. Conviction is lower this time. Rhetoric from both sides remains belligerent, and markets are more hesitant to chase optimistic headlines after earlier disappointments," ING said.Closer to home, the UAE's new oil pipeline meant to bypass the Strait of Hormuz reached 50% completion, but full oil flows are not expected to return before the first or second quarter of 2027, Reuters reported, citing UAE Minister of Industry and Advanced Technology and Abu Dhabi National Oil Co., or Adnoc's, head Sultan Ahmed Al Jaber.Over to corporates, Abu Dhabi National Co. for Building Materials (ADX:BILDCO) d/b/a Bildco, intends to launch an integrated logistics hub and a collection and operations center in Oman. Shares of the building materials company closed the session flat.Elsewhere, Dubai Investments (DFM:DIC) unit Globalpharma signed seven strategic memoranda of understanding with different companies to bolster its capabilities across product development, manufacturing, financing, and sustainable operations. Its stocks closed the session 0.55% higher.

$^DFMGI$^FADGI$ADX:BILDCO$DFM:DIC
Asia Markets

US Equity Indexes Jump Amid Sliding Treasury Yields, Crude Oil as Trump Says Iran Talks in Final Stages

US equity indexes jumped at the close on Wednesday as government bond yields sank amid a slide in crude oil futures after President Donald Trump talked up expectations for an Iran peace agreement.The Nasdaq Composite advanced 1.6% to 26,270.36, with the S&P 500 up 1.1% to 7,432.97 and the Dow Jones Industrial Average higher by 1.3% to 50,009.35 on Wednesday.Consumer discretionary and technology topped the sector charts. Energy was the worst performer.US equity indexes closed higher on Wednesday in anticipation of strong results from the tech bellwether and AI poster child, Nvidia (NVDA). The chipmaker reported after the bell stronger-than-expected fiscal Q1 adjusted earnings and revenue, beating market expectations. The chipmaker unveiled an additional $80 billion share repurchase authorization and raised its quarterly dividend.Meanwhile, Iran negotiations are in the final stages, Reuters cited President Donald Trump as saying on Wednesday. The US president reiterated his warning of further attacks unless Tehran agrees to a deal."We're in the final stages of Iran. We'll see what happens," Trump was cited as telling reporters. "Either have a deal, or we're going to do some things that are a little bit nasty, but hopefully that won't happen.""If aggression against Iran is repeated, the promised regional war will extend beyond the region this time," Reuters cited the Revolutionary Guards as saying in a statement.Brent crude futures slumped 5.7% to $104.91.US Treasury yields fell, with the 30-year down 6.6 basis points to 5.11%, retreating from its highest since 2007. The 10-year dropped 9.3 basis points to 4.58%, also declining from its strongest level in more than a year.In precious metals, gold futures rose 0.8% to $4,548.2, and silver futures climbed 1.5% to $76.27.A majority of FOMC participants appear to be leaning away from rate cuts for now and were open to the possibility of rate increases, minutes of the April 28-29 meeting released Wednesday showed."Several participants highlighted that it would likely be appropriate to lower the target range for the federal funds rate once there are clear indications that disinflation is firmly back on track or if solid signs emerge of greater weakness in the labor market," the minutes said."A majority of participants highlighted, however, that some policy firming would likely become appropriate if inflation were to continue to run persistently above 2%," according to the minutes.

$^DJI$^IXIC$^SPX$NVDA