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Alibaba Fiscal Fourth-Quarter Results Miss Street Views Despite Cloud Strength
US Markets

Alibaba Fiscal Fourth-Quarter Results Miss Street Views Despite Cloud Strength

Alibaba (BABA) reported lower-than-expected fiscal fourth-quarter earnings on Wednesday, while the Chinese e-commerce giant's revenue trailed market estimates despite double-digit growth in its cloud business.The company's adjusted earnings fell to 0.62 renminbi ($0.09) per American depositary share for the March quarter from 12.52 renminbi a year earlier. The consensus on FactSet was for 6.14 renminbi. Revenue rose 3% to 243.38 billion renminbi, but missed the Street's view for 246.97 billion renminbi.Alibaba's New York Stock Exchange-listed shares declined 2.3% in the most recent premarket activity.Revenue in the cloud intelligence business jumped 38% to 41.63 billion renminbi, with artificial intelligence-related product revenue delivering triple-digit growth for the eleventh consecutive quarter, Chief Financial Officer Toby Xu said in a statement. External revenue growth accelerated to 40%, with AI-related products accounting for 30% of the amount, according to Chief Executive Eddie Wu.Sales in the China e-commerce segment grew 6% to 122.22 billion renminbi. Within this division, e-commerce fell 1% to 96.29 billion renminbi. China commerce wholesale sales increased 3% to 5.94 billion renminbi."China e-commerce customer management revenue grew 8% on a like-for-like basis," Xu said. "The unit economics and average order value of quick commerce steadily improved."The international digital commerce business advanced 6% to about 35.43 billion renminbi, buoyed by gains in retail and wholesale. The all others segment, which includes Cainiao, Amap and Hujing digital media and entertainment, fell 21% to 65.46 billion renminbi, due to the disposal of the Sun Art and Intime businesses, the company said."We are confident in our business outlook and will continue to invest in AI (plus) cloud to strengthen our competitive advantages," according to Xu.On Tuesday, Chinese e-commerce group JD.com (JD) recorded better-than-expected first-quarter results. In April, technology giant Amazon.com (AMZN) reported first-quarter results above Wall Street's estimates and issued a robust revenue outlook for the ongoing three-month period.

$BABA
Japan

US Equity Futures Mixed as Nvidia Stock Rises Ahead of Crucial US-China Meeting

US equity futures were mixed pre-bell Wednesday as Nvidia (NVDA) stock rose ahead of a globally significant meeting between the US and China to discuss key economic and geopolitical issues.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.7% higher.Nvidia shares were up 2.3% after President Donald Trump confirmed in a post on Truth Social that Nvidia Chief Executive Jensen Huang is accompanying him on his visit to Beijing, raising expectations of progress in stalled talks over Nvidia's H200 AI chip sales to China. Also mentioned in the post were Tesla (TSLA) CEO Elon Musk and Tim Cook of Apple (AAPL), among others.Traders took note of the latest round of earnings. Alibaba Group (BABA) reported lower fiscal Q4 adjusted earnings and higher revenue, while Nebius Group (NBIS) posted a swing to Q1 earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.1% at $107.63 per barrel and US West Texas Intermediate crude 0.4% lower at $101.77 per barrel.The April Producer Price Index, scheduled for release at 8:30 am ET, is expected to show a 0.5% increase following a similar gain in the preceding month, according to estimates compiled by Bloomberg.Federal Reserve Boston President Susan Collins, Minneapolis President Neel Kashkari, and Dallas President Lorie Logan are slated to speak on Wednesday.

Dow JonesNasdaq CompositeS&P 500$AAPL$BABA$NBIS$NVDA$TSLA
Research

Research Alert: Baba: Another Mixed Quarter As Strategic Investments Dent Profits

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:BABA reported mixed Mar-Q results with revenue up 3% to CNY243.4B, below the CNY247.1B consensus, though up 11% on a like-for-like basis excluding disposed businesses. BABA posted its first operating loss since 2021 at -CNY0.8B, with adj-EBITA margins compressing to 2% vs. 14% in the prior year, mainly due to strategic investments in e-commerce (e.g., quick commerce) and AI initiatives. Cloud Intelligence Group revenue accelerated to 38% growth (+40% from external customers) vs. 36% growth in the Dec-Q, with AI products now representing 30% of external cloud revenue after 11 quarters of triple-digit growth. Management expressed confidence despite near-term margin pressure, emphasizing strategic investments position the company for competitive advantages. Quick commerce revenue surged 57% to CNY20.0B, though unit economics remain under development. We expect more significant improvement in quick commerce unit economics in FY 27 as strategic investments in AI and cloud infrastructure scale toward profitability.

$BABA
Stocks Mostly Up Pre-Bell Ahead of PPI Data; Trump's China Visit in Focus
US Markets

Stocks Mostly Up Pre-Bell Ahead of PPI Data; Trump's China Visit in Focus

The main US stock measures were mostly pointing higher in Wednesday's premarket activity as traders await the latest data on wholesale prices and focus on President Donald Trump's visit to China.The S&P 500 rose 0.3% and the Nasdaq added 0.8% before the opening bell, while the Dow Jones Industrial Average declined 0.2%. The S&P 500 and Nasdaq finished Tuesday trading in the red, while the Dow closed higher for the third consecutive session.Last month's producer price index, a measure of wholesale prices, is scheduled to be released at 8:30 am ET. The report follows Tuesday's data that showed annual consumer inflation accelerated in April to the fastest pace in almost three years, as energy prices surged amid the near-complete closure of the Strait of Hormuz."The unfavorable and larger-than-expected jump in core prices shows pressures are now spreading beyond energy, transportation, and food, into larger categories such as services and housing," Scott Anderson, chief US economist at BMO, said in a report. "If the energy price shock doesn't subside soon, we can expect more of the same in the months ahead."Treasury yields were moving down before the open, with the two-year rate retreating 1.3 basis points to 3.98% and the 10-year rate off 1 basis point to 4.46%.Trump is set to land in Beijing on Wednesday for a highly anticipated summit with Chinese President Xi Jinping. The US leader reportedly said he will have a "long talk" about the Iran war with his Chinese counterpart, though he downplayed the idea he would want China to play a role in ending the conflict.Trump is now more seriously considering restarting military operations against Iran than he has in recent weeks, CNN reported, citing his aides.West Texas Intermediate crude oil decreased 0.7% to $101.48 a barrel in premarket action, while Brent slipped 0.4% to $107.41.Wednesday's economic calendar also has the weekly mortgage applications bulletin at 7 am, followed by the EIA domestic petroleum inventories report at 10:30 am.Federal Reserve Bank of Boston President Susan Collins is slated to speak at 11:30 am, while Minneapolis Fed President Neel Kashkari speaks at 1:15 pm. Dallas Fed President Lorie Logan's remarks are due at 7 pm.Chicago Fed President Austan Goolsbee reportedly said Tuesday that inflation data on the services side was "unexpectedly disappointing."Chinese e-commerce giant Alibaba (BABA) is expected to release its latest financial results before the bell, among others. Cisco Systems (CSCO) posts earnings after the markets close.Gold inclined 0.5% to $4,711 per troy ounce, while bitcoin gained 0.4% to $81,098.

Dow JonesNasdaq CompositeS&P 500$BABA$CSCO
Asia Markets

US Equity Futures Slightly Lower Pre-Bell as Trump Rejects Iran's Response to Peace Proposal, Oil Prices Rise

US equity futures were marginally lower pre-bell Monday as President Donald Trump rejected Iran's response to the US peace proposal, sending oil prices higher amid concerns that the closure of the Strait of Hormuz would be prolonged.Dow Jones Industrial Average futures were flat, S&P 500 futures were down 0.2%, and Nasdaq futures were 0.1% lower.Trump said in a post on Truth Social that he found Iran's response "totally unacceptable." Iran's response had included a demand for war reparations, an end to sanctions, full sovereignty over the Strait of Hormuz, and the release of frozen Iranian assets, the country's state media had said.Energy firm Constellation Energy (CEG) was one of the first companies to kick off earnings this week, posting higher Q1 adjusted earnings and revenue. Among the companies reporting financial results this week are Petrobras (PBR), Cisco Systems (CSCO), Alibaba Group (BABA), Applied Materials (AMAT), and Brookfield (BN).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.8% at $104.11 per barrel and US West Texas Intermediate crude 2.9% higher at $98.16 per barrel.Existing home sales report, scheduled for release at 10 am ET, is expected to show an increase of 2% for April after a decline of 3.6% in the prior month, according to estimates compiled by Bloomberg.In other world markets, Japan's Nikkei closed 0.5% lower, Hong Kong's Hang Seng ended 0.1% higher, and China's Shanghai Composite finished 1.1% higher. Meanwhile, the UK's FTSE 100 was up 0.1%, and Germany's DAX index was 0.5% lower in Europe's early afternoon session.In equities, Palantir Technologies (PLTR) stock was down 2.2% after the company's external staff and other consultants were provided unrestricted entry to identifiable medical records by the UK's National Health Service, according to a Financial Times report citing an internal briefing note.On the winning side, Intel (INTC) shares rose 5.2% after the company and Apple (AAPL) reached a preliminary agreement under which the chipmaker will make some of the chips powering Apple devices, according to a Wall Street Journal report on Friday. Barrick Mining (B) shares were up 3% after the company reported higher Q1 adjusted earnings and revenue. The mining firm also reduced its quarterly dividend and authorized a $3 billion share repurchase program. Constellation Energy (CEG) stock was up 1.3% after the company reported its Q1 financial results.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMAT$B$BABA$BN$CEG$CSCO$INTC$PBR$PLTR
Japan

US Equity Futures Largely Flat Pre-Bell as Trump Rejects Iran's Response to Peace Proposal, Oil Prices Rise

US equity futures were largely flat pre-bell Monday as President Donald Trump rejected Iran's response to the US peace proposal, sending oil prices higher amid concerns that the closure of the Strait of Hormuz would be prolonged.Dow Jones Industrial Average futures were 0.1% lower, S&P 500 futures were flat, and Nasdaq futures were 0.1% higher.Trump said in a post on Truth Social that he found Iran's response "totally unacceptable." Iran's response had included a demand for war reparations, an end to sanctions, full sovereignty over the Strait of Hormuz, and the release of frozen Iranian assets, the country's state media had said.Energy firm Constellation Energy (CEG) was one of the first companies to kick off earnings this week, posting higher Q1 adjusted earnings and revenue. Among the companies reporting financial results this week are Petrobras (PBR), Cisco Systems (CSCO), Alibaba Group (BABA), Applied Materials (AMAT), and Brookfield (BN).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2.5% at $103.82 per barrel and US West Texas Intermediate crude 2.5% higher at $97.77 per barrel.Existing home sales report, scheduled for release at 10 am ET, is expected to show an increase of 2% for April after a decline of 3.6% in the prior month, according to estimates compiled by Bloomberg.

Dow JonesNasdaq CompositeS&P 500$AMAT$BABA$BN$CEG$CSCO$PBR
Wire

Apple Likely to see Major Inflection Point in Growth, Wedbush Says

Apple (AAPL) is likely to see a major inflection point in growth as it prepares to unveil its artificial intelligence strategy at WWDC next month, Wedbush said in a Friday research report.The brokerage forecast that around 20% of the world's population will access AI through an Apple device over the coming years, Wedbush stated.Apple will be able to monetize AI and storage services over the coming years, expected to add $75 to $100 to the stock and generate an additional $15 billion of annual services revenue, while the company's collaboration with Alibaba (BABA) on AI will be key as it targets a growing installed base in China, analysts wrote.Monetization depends on Apple's installed base, but innovation in foldable phones, AI smartphone, and affordable Apple Glasses will be the hearts and lungs of the company's success, according to the note.The brokerage said it reiterated its outperform rating on the stock and boosted its price target to $400 per share from $350.Price: $292.90, Change: $+5.48, Percent Change: +1.91%

$AAPL$BABA
International

Top Midday Stories: Nvidia Chips Said at Center of Smuggling Probe; TCI Slashes Nearly All Its $8 Billion Microsoft Stake

All three major US stock indexes were up in late-morning trading Friday following a better-than-expected jobs report.Nonfarm payrolls rose by 115,000 in April, above the Bloomberg survey consensus estimate of 65,000, the Bureau of Labor Statistics said Friday. March payrolls were revised up to a 185,000-job gain, while February payrolls were revised down to a 156,000-job decrease, the BLS said. The unemployment rate remained at 4.3% in April, as expected, while the labor force participation rate fell to 61.8% from 61.9% in March, the agency said.In company news, Nvidia (NVDA) chips are at the center of a suspected $2.5 billion smuggling scheme involving Super Micro Computer (SMCI) servers diverted to China through Bangkok-based OBON, Bloomberg reported Friday, citing people familiar with the matter. Alibaba (BABA) is among the alleged end customers of the scheme, the report said. In a March indictment, US prosecutors outlined how Super Micro worked with a Southeast Asian company identified by sources as OBON to bypass trade restrictions, the report said. Nvidia shares were up 2.1% and Super Micro shares were up 4.5%, while Alibaba shares were marginally down.Hedge fund TCI cut its stake in Microsoft (MSFT) from 10% of its portfolio, or $8 billion, at the end of last year to 1% at the end of March, the Financial Times reported Friday, citing an investor letter it reviewed. Microsoft shares were down 1.1%.CoreWeave (CRWV) reported a Q1 net loss late Thursday of $1.40 per diluted share, narrowing from a loss of $1.49 a year earlier but below the FactSet consensus estimate of a loss of $1.18. First-quarter revenue was $2.08 billion, up from $982 million a year ago and above the FactSet consensus of $1.97 billion. CoreWeave shares were down 13%.Price: $216.03, Change: $+4.53, Percent Change: +2.14%

$BABA$CRWV$MSFT$NVDA$SMCI
Asia Markets

Asian Equities Traded in the US as American Depositary Receipts Soar in Wednesday Trading

Asian equities traded in the US as American depositary receipts were soaring Wednesday morning, rising 3.38% to 2,885.55 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by tech companies Baidu (BIDU) and Alibaba Group (BABA), which climbed 8.3% and 6.1% respectively. They were followed by fintech firm J and Friends (JF) and lender Mitsubishi UFJ Financial Group (MUFG), which advanced 4.4% and 3.6% respectively.The decliners from North Asia were led by diagnostic imaging centers company Concord Medical Services (CCM) and polysilicon manufacturer Daqo New Energy (DQ), which fell 5.6% and 5.1% respectively. They were followed by semiconductor company Silicon Motion Technology (SIMO) and brand platform 36Kr (KRKR), which were down 2.8% and 2.3% respectively.From South Asia, the gainers were led by tech conglomerate Sea (SE) and lender HDFC Bank (HDB), which rose 5% and 3.5% respectively. They were followed by lender ICICI Bank (IBN) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which were up 3.3% and 2.3% respectively.The only decliners from South Asia were computer hardware maker Canaan (CAN) and fintech firm Trident Digital Tech (TDTH), which dropped 3.8% and 0.9% respectively.

$BABA$BIDU$CAN$CCM$DQ$HDB$IBN$JF$KRKR$MUFG$RDY$SE$SIMO$TDTH
Asia Markets

US Equity Futures Slip Pre-Bell as Middle East Conflict Enters Third Month, Oil Prices Rise

US equity futures were marginally lower pre-bell Monday as the standoff in the Strait of Hormuz continued, with the Iran-US conflict reaching its third month and traders noting the increase in oil prices.Dow Jones Industrial Average futures were 0.3% lower, S&P 500 futures were down 0.1%, and Nasdaq futures were 0.1% higher.President Donald Trump said Sunday that the US would help guide vessels stranded in the Persian Gulf due to the conflict, and Iran responded by warning US forces not to enter the Strait of Hormuz.A US warship was turned away from entering the waterway after being hit by two missiles fired by Iran's navy near the port of Jask, according to Iran's Fars news agency, but a senior US official denied the report, Axios said.Among the companies expected to report quarterly earnings this week are Palantir Technologies (PLTR), Advanced Micro Devices (AMD), HSBC (HSBC), Arm (ARM), Shell (SHEL), and McDonald's (MCD).Oil prices were higher, with front-month global benchmark North Sea Brent crude up 2% at $110.31 per barrel and US West Texas Intermediate crude 0.8% higher at $102.72 per barrel.March factory orders, due at 10 am ET, are expected to have gained 0.6%, compared with no change previously, according to estimates compiled by Bloomberg.New York Federal Reserve President John Williams is due to speak today.In other world markets, Japan's Nikkei, China's Shanghai Composite, and the UK's FTSE 100 were all closed due to public holidays. Hong Kong's Hang Seng ended 1.2% higher. Germany's DAX index was flat in Europe's early afternoon session.In equities, Alibaba (BABA) shares rose 2% after Chinese robotics startup Linkerbot, which is backed by Alibaba unit Ant Group, said it will seek a $6 billion valuation in its next funding round, according to a Reuters report. EBay (EBAY) stock was 7.5% higher after GameStop (GME) said it submitted a non-binding proposal to acquire all outstanding shares of eBay for $125 each. Tyson Foods (TSN) shares were up 1.6% after the company reported fiscal Q2 adjusted earnings and sales that surpassed analysts' consensus.On the losing side, Norwegian Cruise Line (NCLH) stock was down 5.9% after the company issued lower-than-expected Q2 adjusted earnings guidance and trimmed its 2026 adjusted EPS outlook.

Dow JonesNasdaq CompositeS&P 500$AMD$ARM$BABA$EBAY$GME$HSBC$MCD$NCLH$PLTR$SHEL$TSN
Research

BNP Paribas Initiates Alibaba Group at Outperform With $209 Price Target

Alibaba Group Holding (BABA) has an average rating of buy and mean price target of $188.65, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)

$BABA
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Wednesday Amid Extended US-Iran Ceasefire

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.6%, and the actively traded Invesco QQQ Trust (QQQ) was 0.7% higher in Wednesday's premarket activity as US President Donald Trump extended the ceasefire with Iran.US stock futures were also higher, with S&P 500 Index futures up 0.6%, Dow Jones Industrial Average futures advancing 0.5%, and Nasdaq futures gaining 0.7% before the start of regular trading.US mortgage applications rose 7.9% in the week ended April 17 as lower borrowing costs drove gains in both refinancing and purchase activity, Mortgage Bankers Association data showed Wednesday.The Atlanta Fed Business Inflation Expectations survey for April is scheduled for release at 10 am ET, followed by the weekly EIA domestic petroleum inventories report at 10:30 am ET.In premarket activity, bitcoin was up by 4.3%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 4.5% higher, Ether ETF (EETH) advanced 4.1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 1.8%.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 1%, while the Vanguard Industrials Index Fund (VIS) was up 2% and the iShares US Industrials ETF (IYJ) was inactive.Target Hospitality (TH) stock was down more than 9% before the opening bell, a day after the company said its selling shareholders priced a secondary offering of 7 million shares at $14 apiece for about $98 million in gross proceeds.Winners and Losers:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 1%, and the iShares US Technology ETF (IYW) was 1.2% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 1.1%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) increased by 1.8%, while the iShares Semiconductor ETF (SOXX) rose by 1.5%.TE Connectivity (TEL) shares were down more than 5% in Wednesday's premarket activity despite the company delivering strong fiscal Q2 results that beat estimates after CEO Terrence Curtin told Reuters that persistent Middle East conflict could force price hikes to offset rising material costs and supply chain disruptions.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.3%, the Vanguard Health Care Index Fund (VHT) was up 0.4%, while the iShares US Healthcare ETF (IYH) was flat. The iShares Biotechnology ETF (IBB) was up 0.7%.Moderna (MRNA) stock was down more than 1% premarket, a day after the company said it administered the initial doses to participants in the US and the UK for a phase 3 clinical trial evaluating its experimental mRNA-1018 pandemic flu vaccine.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was up 1.1%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.8% lower.Capital One Financial (COF) shares were down more than 1% pre-bell after the company overnight reported Q1 results that fell short of analyst expectations.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.1% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was 0.4% higher. The iShares US Consumer Staples ETF (IYK) was flat. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.7%. The VanEck Retail ETF (RTH) was down 0.1%, while the State Street SPDR S&P Retail ETF (XRT) increased 0.6%.Alibaba Group (BABA) shares were up more than 1% pre-bell after The Information reported the company and Tencent are in talks to invest in DeepSeek, which is seeking funding at a valuation of over $20 billion.EnergyThe iShares US Energy ETF (IYE) was flat, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.1%.NexGen Energy (NXE) stock was up more than 1% before the opening bell after the company said it completed its 2026 winter drill program at the Patterson Corridor East discovery, extending the vertical extent of the high-grade uranium zone by 33% to 550 meters.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 0.4% to $89.29 per barrel on the New York Mercantile Exchange. Natural gas declined by 0.8% to $2.67 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 0.9%, while the United States Natural Gas Fund (UNG) was 0.4% higher.Gold futures for May were down by 0.4% at $4,812.10 an ounce on the Comex. Silver futures retreated by 1.1% to $79.73 an ounce. SPDR Gold Shares (GLD) was 0.4% lower, and the iShares Silver Trust (SLV) fell by 0.7%.

Dow JonesNasdaq CompositeS&P 500$BABA$BETH$BITO$COF$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$MRNA$NXE$PMR$QQQ$RTH$SLV$SOXX$SPY$TEL$TH$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Consumer Stocks Advance Pre-Bell Wednesday

Consumer stocks were advancing pre-bell Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) 0.2% higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.6%.Philip Morris International (PM) stock was up more than 2% after the company reported higher Q1 adjusted earnings and net revenue.Travel + Leisure (TNL) shares were up more than 1% after the company posted higher Q1 adjusted earnings and net revenue.Alibaba Group (BABA) and Tencent are in talks to invest in DeepSeek, which is seeking funding at a valuation of over $20 billion, The Information reported, citing four people with knowledge of the conversations. Alibaba Group shares were 0.7% higher premarket.

$BABA$PM$TNL$XLP$XLY
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Thursday Amid Incoming Economic Data Releases

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.1%, and the actively traded Invesco QQQ Trust (QQQ) was 0.2% higher in Thursday's premarket activity amid incoming economic data releases.US stock futures were also edging higher, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures advancing 0.1%, and Nasdaq futures gaining 0.2% before the start of regular trading.US initial jobless claims came in at 207,000, compared with expectations of 213,000 and a prior reading of 218,000.The New York Fed's regional services index for April was negative 14.0, versus expectations of negative 20.0 and a prior reading of negative 22.6.The Philadelphia Fed's regional manufacturing index for April rose to 26.7, above expectations of 10.0 and a prior reading of 18.1.The industrial production data for March will be released at 9:15 am ET, followed by the weekly natural gas data at 10:30 am ET.Fed Governor Stephen Miran is slated to speak on Thursday.In premarket activity, bitcoin was down by 1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.8% lower, Ether ETF (EETH) retreated by 2.1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.01%, the Vanguard Health Care Index Fund (VHT) was up 0.7%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) slipped 0.1%.Hims & Hers Health (HIMS) stock was up more than 9% premarket after US Health and Human Services Secretary Robert Kennedy Jr. signaled plans to ease restrictions on certain peptides.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.1%, and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was flat. The iShares US Consumer Staples ETF (IYK) was flat. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.1%. The VanEck Retail ETF (RTH) and the State Street SPDR S&P Retail ETF (XRT) were inactive.Alibaba (BABA) shares were up more than 3% pre-bell after Bloomberg reported the retailer has launched a new AI model that creates 3D environments and interactive videos, expanding into gaming and content to compete more directly with Tencent.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) advanced 0.4%, and the iShares US Technology ETF (IYW) was 0.1% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 1.2%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 0.6%, while the iShares Semiconductor ETF (SOXX) declined by 0.5%.Taiwan Semiconductor Manufacturing (TSM) shares were down more than 1% in Thursday's premarket activity even after the company reported higher Q1 earnings and net revenue.EnergyThe iShares US Energy ETF (IYE) was down 0.02% while the State Street Energy Select Sector SPDR ETF (XLE) was up by 0.02%.TotalEnergies (TTE) stock was up more than 1% before Thursday's opening bell after the company said that Q1 exploration and production results are expected to rise significantly, supported by higher oil prices and contributions from new projects.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.02%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.1%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.02% higher.Travelers (TRV) shares were down more than 1% pre-bell after the company's Q1 revenue trailed the estimates of analysts polled by FactSet.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.3%, while the Vanguard Industrials Index Fund (VIS) retreated 0.3% and the iShares US Industrials ETF (IYJ) was inactive.Willdan Group (WLDN) stock was up more than 1% before the opening bell after the company was awarded a $27 million, three-year contract with the New York City Mayor's Office of Climate & Environmental Justice to redesign and implement the NYC Accelerator program.CommoditiesFront-month US West Texas Intermediate crude oil gained by 0.2% to reach $91.45 per barrel on the New York Mercantile Exchange. Natural gas retreated by 0.2% to $2.61 per 1 million British Thermal Units. The United States Oil Fund (USO) increased by 0.8%, while the United States Natural Gas Fund (UNG) was 0.5% higher.Gold futures for May were up by 0.3% at $4,840.00 an ounce on the Comex. Silver futures gained by 0.1% to reach $79.68 an ounce. SPDR Gold Shares (GLD) was 0.4% higher, and the iShares Silver Trust (SLV) advanced by 0.3%.

Dow JonesNasdaq CompositeS&P 500$BABA$BETH$BITO$EEM$EETH$EXI$FAS$FAZ$GLD$HIMS$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$PMR$QQQ$RTH$SLV$SOXX$SPY$TRV$TSM$TTE$UNG$USO$VDC$VHT$VIS$WLDN$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Asia Markets

Hopes for Middle East Peace Nudge US Equity Futures Higher Pre-Bell

US equity futures were edging higher pre-bell Thursday as optimism for an end to the Middle East conflict continues to grow, with a second round of talks and a ceasefire extension on the horizon.Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.2% lower.Israel's security cabinet met on Wednesday to discuss a potential ceasefire in Lebanon that could remove a key hurdle in securing a broader peace agreement.A series of solid earnings so far this week has also allayed concerns about the economy. Taiwan Semiconductor Manufacturing (TSM) and Charles Schwab (SCHW) posted higher Q1 earnings and net revenue. Netflix (NFLX) is due to report after market close.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 1.3% at $96.16 per barrel and US West Texas Intermediate crude up 0.7% at $91.93 per barrel.Initial jobless claims dropped to 207,000 in the week ended April 11 from 218,000 in the previous week, compared with expectations for a decrease to 213,000 in a survey of analysts compiled by Bloomberg.The March industrial production report, due at 9:15 am ET, is forecast to show a 0.1% increase following a 0.2% gain in the prior month.In other world markets, Japan's Nikkei closed 2.4% higher, Hong Kong's Hang Seng ended 1.7% higher, and China's Shanghai Composite finished 0.7% higher. Meanwhile, the UK's FTSE 100 was up 0.7%, and Germany's DAX index was 0.6% higher in Europe's early afternoon session.In equities, Charles Schwab (SCHW) stock was 2% lower after the company posted Q1 net revenue below analyst estimates. Paypal (PYPL) shares were down 1.7% after Mizuho downgraded the company's stock to neutral from outperform.On the winning side, Alibaba (BABA) stock was 3.3% higher after the company launched a new AI model that creates 3D environments and interactive videos, according to a Bloomberg report. TotalEnergies (TTE) shares were up 3.5% after the company said its Q1 exploration and production results are expected to rise significantly, supported by higher oil prices and contributions from new projects. Adobe (ADBE) stock was 2.7% higher after the company launched its new artificial intelligence tool, Firefly AI Assistant.

Dow JonesNasdaq CompositeS&P 500$ADBE$BABA$NFLX$PYPL$SCHW$TSM$TTE

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