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US Markets

Equities Rise Intraday as Hegseth Says US-Iran Ceasefire Still Holds

US benchmark equity indexes were higher intraday as oil prices fell after Defense Secretary Pete Hegseth said the ceasefire agreement with Iran remains intact.The Nasdaq Composite was up 1% at 25,307.8 after midday Tuesday, while the S&P 500 rose 0.9% to 7,262.2. The Dow Jones Industrial Average advanced 0.7% to 49,283. Barring financials and communication services, all sectors were in the green, led by materials.West Texas Intermediate crude was down 4.4% at $101.73 per barrel in afternoon trading, while Brent fell 4% to $109.91."The ceasefire is not over," Hegseth said in a press briefing at the Pentagon, according to a CNBC report.The comment came a day after Tehran fired missiles and drones at the United Arab Emirates, reigniting concerns about an already fragile ceasefire between the US and Iran.The US military destroyed six Iranian boats in the Strait of Hormuz on Monday after Tehran attacked US Navy ships and commercial vessels, CNN reported, citing Admiral Brad Cooper, the head of the US Central Command. A senior Iranian military official reportedly disputed that claim.US Treasury yields were lower intraday, with the 10-year rate down 2.9 basis points at 4.41% and the two-year rate falling 2.6 basis points to 3.94%.In company news, Pinterest (PINS) shares were advancing by 9.1% in Tuesday afternoon trading. The image-sharing platform company posted better-than-expected first-quarter results late Monday and forecast up to 16% revenue growth year over year for the ongoing three-month period.Shopify (SHOP) on Tuesday issued a second-quarter revenue outlook that implied a sequential slowdown in annual growth. The stock was down 15%.PayPal (PYPL) shares were down 9.1% intraday, the third-worst performer on the S&P 500. The payments company said it was targeting at least $1.5 billion in cost cuts over the next few years, while it maintained its full-year earnings outlook.Palantir Technologies (PLTR) shares were down 6.6% intraday, among the worst performers on the S&P 500, despite the software maker raising its 2026 revenue outlook and first-quarter results topping Wall Street's expectations.Advanced Micro Devices (AMD) and Arista Networks (ANET) are expected to announce their earnings after the markets close.In economic news, two surveys released Tuesday painted a mixed picture of the US services sector in April, with Institute for Supply Management data showing a deceleration in growth and an S&P Global (SPGI) report indicating a return to expansion."The services sector continues to expand, but the sharp cooling in new orders alongside still-subdued employment momentum suggests growth may be becoming less durable," TD Economics Senior Economist Vikram Rai said in a note.On Friday, ISM and S&P surveys showed that the US manufacturing sector saw continued growth in April, though inflationary pressures intensified amid disruptions caused by the Middle East conflict.New-home sales in the US grew past Wall Street's estimates for March, driven by a demand surge in the Northeast region, government data showed.Gold rose 0.7% to $4,566.70 per troy ounce, while silver advanced 0.4 % to $73.82 per ounce.

Dow JonesNasdaq CompositeS&P 500$AMD$ANET$PINS$PLTR$PLYPL$SHOP$SPGI
US Markets

ISM Services Survey Shows Growth Deceleration; S&P Data Indicate Return to Expansion

Two surveys released Tuesday painted a mixed picture of the US services sector in April, with Institute for Supply Management data showing a deceleration in growth and an S&P Global (SPGI) report indicating a return to expansion.The ISM's purchasing managers' index fell to 53.6 last month from 54 in March. The consensus was for a 53.7 print in a survey compiled by Bloomberg. A reading above 50 indicates the services sector economy is generally expanding.The business activity index rose to 55.9 in April from 53.9 the month before, while the gauge for new orders decreased to 53.5 from 60.6. The employment measure increased to 48 from 45.2, but remained in contraction territory for a second consecutive month, the ISM survey showed."The services sector continues to expand, but the sharp cooling in new orders alongside still-subdued employment momentum suggests growth may be becoming less durable," TD Economics Senior Economist Vikram Rai said in a note.The price index was unchanged at 70.7, staying at its highest level since October 2022, according to the ISM survey."With prices holding at their highest level since late 2022, today's report reinforces concerns that services sector inflation remains sticky," Rai said. "Combined with resilient activity levels, this supports the case for the (Federal Reserve) to remain patient, particularly as energy, freight, and labor costs continue to feed through to prices."Last week, the Fed kept its benchmark lending rate steady for a third straight meeting, saying the Middle East conflict is fueling uncertainty around the US economic outlook.Separately, S&P Global said Tuesday its services PMI gauge rose to 51 in April from 49.8 the month prior, though growth was "well below" the series average.New business intakes fell for the first time in two years, as the Middle East war and inflation weighed on demand. Employment increased "slightly," while confidence in the outlook improved, according to the data provider."A further increase in input cost inflation reflected not just higher fuel prices but a widening spread of goods and services rising in price, as well as higher wages, which will feed through to consumer price inflation in the coming months," S&P Global Market Intelligence Chief Business Economist Chris Williamson said. "The scale of the price rises will put pressure on the Fed to prevent higher inflation becoming entrenched."On Friday, ISM and S&P surveys showed that the US manufacturing sector saw continued growth in April, though inflationary pressures intensified amid disruptions caused by the Middle East conflict.Price: $423.13, Change: $-1.62, Percent Change: -0.38%

$SPGI
Insider Trading

S&P Global Insider Bought Shares Worth $1,078,475, According to a Recent SEC Filing

Catherine R Clay, CEO, S&P Dow Jones Indices, on May 01, 2026, executed a purchase for 2,500 shares in S&P Global (SPGI) for $1,078,475. Following the Form 4 filing with the SEC, Clay has control over a total of 2,500 common shares of the company, with 2,500 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/64040/000185349726000004/xslF345X05/wk-form4_1777925906.xml

$SPGI
Insider Trading

S&P Global Insider Bought Shares Worth $500,001, According to a Recent SEC Filing

Robert Edward Moritz Jr., Director, on April 30, 2026, executed a purchase for 1,152 shares in S&P Global (SPGI) for $500,001. Following the Form 4 filing with the SEC, Moritz has control over a total of 1,152 common shares of the company, with 1,152 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/64040/000203383426000014/xslF345X05/wk-form4_1777925959.xml

$SPGI
US Markets

Nasdaq, S&P 500 Log Record Finish, Extend Streak of Weekly Gains

The Nasdaq Composite and the S&P 500 reached new peaks on Friday, scoring their fifth consecutive weekly gains.The Nasdaq Composite rose 0.9% to 25,114.4, while the S&P 500 advanced 0.3% to 7,230.1, both notching record closing highs. The Dow Jones Industrial Average lost 0.3% to 49,499.3. Barring technology and consumer discretionary, all sectors ended in the red, led by energy.This week, the Nasdaq gained 1.1%, while the S&P 500 added 0.9%, their fifth weekly rise in a row. The Dow is up 0.6% after last week's 0.4% loss.Apple (AAPL) shares jumped 3.2% on Friday, the second-biggest gainer on the Dow. Late Thursday, the tech giant logged fiscal second-quarter results above Wall Street's estimates as iPhone revenue came in stronger than expected.Apple's fiscal third-quarter revenue guidance was well above the Street's estimates despite supply constraints for Mac models that will likely continue for several months, Wedbush Securities said in a note.Several other tech names advanced, with Oracle (ORCL) up 6.5%, among the top gainers on the S&P 500, while Salesforce (CRM) climbed 4.1%, the best performer on the Dow. Shares of Intel (INTC), Microsoft (MSFT) and Amazon.com (AMZN) also rose.In other company news, Exxon Mobil (XOM) and Chevron (CVX) reported year-over-year declines in their first-quarter earnings amid supply disruptions due to the Middle East war, though the figures came in ahead of the Street's estimates. Exxon shares fell 1%, while Chevron lost 1.4%.West Texas Intermediate crude oil was down 2.7% at $102.20 per barrel in Friday late-afternoon trade, while Brent dropped 1.7% to $108.57. Both benchmarks, however, were on track for their second consecutive weekly advance."Brent crude remains elevated after touching a fresh wartime high late in April, supported by worsening physical tightness and rising concern about outright shortages in some regions," Saxo Bank Head of Commodity Strategy Ole Hansen said in a report. "The near closure of the Strait of Hormuz continues to prolong a disruption that is steadily tightening global energy markets, with flows through one of the world's most important oil arteries still severely restricted."US President Donald Trump said he is displeased with a new peace offer from Iran, CNBC reported Friday.Israel struck the Habbouch town in southern Lebanon, CNN reported, citing Lebanon's health ministry.US Treasury yields were mixed, with the 10-year rate up 1.3 basis points at 4.39% and the two-year rate little changed at 3.88%.In economic news, the US manufacturing sector saw continued growth in April, though inflationary pressures intensified amid disruptions caused by the Middle East conflict, separate surveys by the Institute for Supply Management and S&P Global (SPGI) showed.Three Federal Reserve officials who wanted language changes in the April monetary policy statement said Friday that risks to inflation and employment didn't warrant an inclusion of the so-called easing bias.On Wednesday, regional presidents Beth Hammack of Cleveland, Neel Kashkari of Minneapolis and Lorie Logan of Dallas supported the Fed's decision to keep its benchmark lending rate steady, but opposed including an easing bias in the Federal Open Market Committee statement.Gold was down 0.1% at $4,623.30 per troy ounce, while silver climbed 2.6% to $75.95 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$CRM$CVX$INTC$MSFT$ORCL$SPGI$XOM
US Markets

Equity Markets Mostly Rise Intraday as Apple Helps Lift Tech

US benchmark equity indexes were mostly higher intraday as a post-earnings rally in Apple (AAPL) shares helped lift the technology sector, while oil prices fell.The Nasdaq Composite was up 1.2% at 25,183.1 after midday Friday, while the S&P 500 rose 0.6% to 7,252.5. Both benchmarks hit new closing highs in the previous session. The Dow Jones Industrial Average was little changed at 49,661.6 intraday Friday.Among sectors, tech paced the gainers with a 1.7% jump, while energy saw the biggest drop.Apple shares were up 4%, the best performer on the Dow. Late Thursday, the tech giant logged fiscal second-quarter results above Wall Street's estimates as iPhone revenue came in stronger than expected.Apple's fiscal third-quarter revenue guidance was well above the Street's estimates despite supply constraints for Mac models that will likely continue for several months, Wedbush Securities said in a note.Several other big tech names were also advancing intraday, with Oracle (ORCL) up 7.4%, among the biggest gainers on the S&P 500. Shares of Intel (INTC), Salesforce (CRM), Microsoft (MSFT), Amazon.com (AMZN), Cisco Systems (CSCO), and IBM (IBM) were also higher.In other company news, Exxon Mobil (XOM) and Chevron (CVX) reported year-over-year declines in their first-quarter earnings amid supply disruptions due to the Middle East war, though the figures came in ahead of the Street's estimates. Exxon shares were down 1.2% intraday, while Chevron lost 1.5%, the second-worst performer on the Dow.West Texas Intermediate crude oil fell 3.1% to $101.82 per barrel, while Brent crude was down 2.1% at $108.04.US President Donald Trump said he is displeased with a new peace offer from Iran, noting that Tehran "wants to make a deal, but I'm not satisfied with it," CNBC reported Friday.Israeli strikes against the Habbouch town in southern Lebanon have killed six people, CNN reported, citing Lebanon's health ministry.US Treasury yields were lower intraday, with the 10-year rate down 1.4 basis points at 4.38% and the two-year rate losing one basis point to 3.88%.In economic news, the US manufacturing sector saw continued growth in April, though inflationary pressures intensified amid disruptions caused by the Middle East conflict, separate surveys by the Institute for Supply Management and S&P Global (SPGI) showed."The prices-paid index's steep climb to multiyear highs -- alongside the conspicuous slowdown in supplier deliveries -- signals mounting supply-chain stress and inflationary pressures driven by surging energy prices and war-related disruptions," TD Economics said in a note. "These resurgent price pressures are keeping the Federal Reserve on alert, supporting expectations that any additional monetary policy easing is unlikely in the near term."Three Fed officials who wanted language changes in the April monetary policy statement said Friday that risks to inflation and employment didn't warrant an inclusion of the so-called easing bias.On Wednesday, regional presidents Beth Hammack of Cleveland, Neel Kashkari of Minneapolis and Lorie Logan of Dallas supported the Fed's decision to keep its benchmark lending rate steady, but opposed including an easing bias in the Federal Open Market Committee statement.Gold rose 0.4% to $4,647 per troy ounce, while silver climbed 3% to $76.23 per ounce.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$CRM$CSCO$CVX$IBM$INTC$MSFT$ORCL$SPGI$XOM
US Markets

April Manufacturing Activity Grows as Price Pressures Intensify Amid War Disruptions, ISM, S&P Surveys Show

The US manufacturing sector saw continued growth in April, though inflationary pressures intensified amid disruptions caused by the Middle East conflict, two surveys showed Friday.The Institute for Supply Management's purchasing managers' index remained unchanged sequentially at 52.7 last month. The consensus was for a 53.2 reading in a survey compiled by Bloomberg. A reading above 50 indicates the manufacturing sector is generally expanding."The April ISM report suggests the US manufacturing sector's recent rebound may be leveling off, underlining a still-fragile expansion," TD Economics Senior Economist Vikram Rai said in a note. "Stable headline PMI and a diminished production index highlight cooling momentum, even as new orders growth persists."The new orders index increased to 54.1 from 53.5 sequentially in April, while production dropped to 53.4 from 55.1. The employment measure retreated to 46.4 from 48.7, remaining in contraction for the 31st consecutive month. The prices gauge jumped to 84.6 from 78.3, marking its highest reading since April 2022 and rising about 26 percentage points in the past three months, the ISM survey showed."The prices-paid index's steep climb to multiyear highs -- alongside the conspicuous slowdown in supplier deliveries -- signals mounting supply-chain stress and inflationary pressures driven by surging energy prices and war-related disruptions," Rai said. "These resurgent price pressures are keeping the Federal Reserve on alert, supporting expectations that any additional monetary policy easing is unlikely in the near term."Earlier in the week, the Fed kept its benchmark lending rate steady for a third straight meeting, saying the Middle East conflict is fueling uncertainty around the US economic outlook.Separately, S&P Global (SPGI) said Friday its manufacturing PMI advanced to 54.5 last month from 52.3 in March, representing the "strongest" expansion in the manufacturing economy since May 2022. However, input and output prices increased at accelerated rates, with inflation in each component "the steepest" for 10 months, the data provider said."A key driving force behind the upturn is the need for companies to get ahead of further feared price rises and supply shortages, providing a short-term boost that could fade in the coming months as headwinds to the economy continue to build," S&P Global Market Intelligence Chief Business Economist Chris Williamson said."Growth of purchasing activity hit a rate not seen for four years, since the pandemic, amid increasingly widespread supply delays and price rises commonly linked to the war in the Middle East, which has exacerbated existing pressure on supply and inflation from tariffs," Williamson said.Energy prices have surged as the US-Israel war with Iran has curtailed shipments through the crucial Strait of Hormuz. The war, which started at the end of February, paused following a recent ceasefire between Washington and Tehran, but a framework for a permanent truce is yet to be reached.Price: $430.74, Change: $-0.50, Percent Change: -0.11%

$SPGI
Wire

S&P Delivered Strong Q1 Beat Amid Ratings Revenue Growth, Margin Expansion, Morgan Stanley Says

S&P Global (SPGI) reported solid Q1 results with revenue from its Ratings business well ahead of peer Moody's (MCO) and its margin above muted forecasts, Morgan Stanley said in a note emailed Wednesday.S&P's organic Ratings revenue increase was 11.5% ahead of Moody's, which saw an about 6% increase during the quarter, the note said.Morgan Stanley noted, however, that while issuance was strong throughout the quarter, an increase in geopolitical tensions may derail momentum if conditions deteriorate.Meanwhile, S&P's margins rose 93 basis points year on year, which was well above consensus estimates of about flat, and the company's 2026 margin guidance is now looking conservative, the note said.Additionally, S&P's Market Intelligence division "which is arguably the biggest focus for investors, cleared the bar with 6.3% organic growth," the note said.Morgan Stanley kept S&P's overweight rating and increased the company's price target to $557 from $556.Price: $429.55, Change: $-3.93, Percent Change: -0.91%

$SPGI
US Markets

February Annual Home Price Growth Decelerates as Housing Slowdown Broadens, S&P Says

US home price growth decelerated annually in February, with more than half of major metropolitan markets logging decreases, S&P Global (SPGI) division S&P Dow Jones Indices said Tuesday.The national S&P Cotality Case-Shiller Index rose 0.7% year over year in February without seasonal adjustments, down from a 0.8% increase the month prior. The 10- and 20-city composites increased 1.5% and 0.9%, respectively, both slowing down from January's growth rates."More than half of major US metropolitan markets posted year-over-year price declines in February, signaling that the housing slowdown has broadened well beyond its Sun Belt origins," said Nicholas Godec, head of fixed income tradables and commodities at S&P Dow Jones Indices. "With consumer inflation at 2.4%, US home values have lost ground in real terms for nine consecutive months."Among the 20 cities, Chicago saw the highest annual gain in prices in February, up 5%, followed by New York and Cleveland. Denver logged the lowest return, down 2.2%, according to the report.Sequentially, pre-seasonally adjusted national home prices increased 0.3% in February, compared with the previous month's 0.2% decline. The 10-city composite index was up 0.6%, while the 20-city composite increased 0.4%, the data showed."Monthly data offered a modest seasonal lift without underlying momentum," Godec said. "Mortgage rates near 6% continue to weigh on affordability and transaction activity, holding nominal price growth below inflation."Separately, the Federal Housing Finance Agency said US home prices were unchanged sequentially in February after January's 0.1% gain was revised upward to 0.2%. Annually, prices increased 1.7% in February, according to the report.Price: $444.38, Change: $+7.16, Percent Change: +1.64%

$SPGI
Research

Research Alert: CFRA Reiterates Hold Opinion On Shares Of S&p Global Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We increase our 12-month target price by $35 to $500, on a forward P/E of 22.7x our 2027 earnings estimate, a premium to the peer average of 20.8x given greater earnings stability. We increase our 2026 EPS estimate by $0.19 to $19.70 and raise 2027's by $0.06 to $22.05. We view Q1 results as a modest net positive. On the upside, SPGI's core Ratings division accelerated its revenue growth, and the company benefited from AI-fueled infrastructure spending as investment-grade issuance increased due to hyperscaler investments in AI data centers. However, SPGI maintained unchanged 2026 revenue and EPS guidance despite the strong Q1 performance, which was disappointing. Additionally, AI disruption concerns continue to weigh on the stock's valuation multiple. On a positive note, the company's portfolio simplification is progressing as SPGI announced the sale of its geoscience and petroleum engineering software assets within the Energy division, while the Mobility divestiture remains on track for mid-2026.

$SPGI
Research

Research Alert: Spgi: Q1 Earnings Beat On Surging Ratings Revenue

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:SPGI posted solid Q1 2026 results with operating EPS of $4.97 vs. $4.37 YoY, beating the consensus by $0.15 after last quarter's miss. Revenue of $4.17B rose 10% YoY and beat the consensus by 2%, marking the third consecutive quarter of accelerating growth. We view this favorably as the Iran conflict had minimal impact on results. This validates management's confidence with improving business sentiment and reduced tariff uncertainty. Ratings was the standout performer with revenue surging 13% to $1.302B, due to robust issuance across both transaction (+15% to $712M) and non-transaction (+11% to $590M) revenue. Market Intelligence showed continued stabilization with 8% growth to $1.296B, though we believe AI disruption remains a long-term concern. Operating leverage was evident with adjusted operating margin expanding 100 bps to 51.8%, while the company returned $1.0B through repurchases and expects to return 100%+ of adjusted FCF in 2026.

$SPGI
US Markets

Stocks Mostly Down Pre-Bell as Traders Monitor Developments on US-Iran Negotiations; Fed Policy Meeting on Deck

US equity futures were mostly pointing lower on Tuesday as traders monitor developments on negotiations between the US and Iran and await the Federal Reserve's latest decision on interest rates, along with a fresh round of corporate earnings.The S&P 500 decreased 0.2% and the Nasdaq declined 0.6%, while the Dow Jones Industrial Average inclined 0.3% in premarket activity. The Nasdaq and S&P 500 finished Monday trading with new closing highs for a second consecutive session, while the Dow ended in the red.White House Press Secretary Karoline Leavitt reportedly said Monday that President Donald Trump reviewed a new proposal from Iran to reopen the crucial Strait of Hormuz with national security officials, according to Bloomberg News. Trump has made his "red lines" extremely clear with respect to Iran and will address the matter "very soon," Leavitt said.Tehran recently submitted a proposal to reopen the Strait of Hormuz and delay talks on uranium enrichment, Axios reported, citing a US official and two other sources.West Texas Intermediate crude oil rose 3.5% to $99.73 a barrel before the opening bell, while Brent gained 2.8% to $111.28.The Fed's monetary policy committee is set to kick off its meeting on interest rates today, with a decision due tomorrow. Markets widely expect the central bank to keep its benchmark lending rate unchanged for a third consecutive meeting, according to the CME FedWatch tool.With the Federal Open Market Committee's decision unlikely to surprise, the market is expected to focus on the policy statement and post-meeting remarks of Chair Jerome Powell, said David Doyle, head of economics at Macquarie Group."Given that elevated oil prices have persisted for nearly two months now, future guidance may shift somewhat," he said in a Monday report e-mailed to. "This would be in contrast to March where there were limited changes made. Our view remains that the next policy move is likely to be a hike with the most likely timing in (the first half of 2027)."Treasury yields were trending upwards in premarket action, with the two-year rate advancing 1.9 basis points to 3.82% and the 10-year rate adding 1.8 basis points to 4.35%.Coca-Cola (KO), S&P Global (SPGI), Spotify Technology (SPOT), United Parcel Service (UPS), Sherwin-Williams (SHW), Hilton Worldwide (HLT) and General Motors (GM) are scheduled to release their latest financial results before the bell, among others. Visa (V), T-Mobile US (TMUS) and Starbucks (SBUX) post earnings after the markets close.Shares of Snap (SNAP) nudged down 0.2% pre-bell after the social media company finished the previous session with a 7.3% jump. Cadence Design Systems (CDNS) moved 0.4% lower as the computational software company announced its latest quarterly results. Oracle (ORCL) fell 5.5%.Tuesday's economic calendar has the Case-Shiller Home Price Index and the Federal Housing Finance Agency House Price Index, both for February, at 9 am ET. The consumer confidence report for April is out at 10 am, along with the Richmond Fed manufacturing index for the same month.Gold dropped 1.4% to $4,626 per troy ounce, while bitcoin ticked down 0.2% to $76,604.

Dow JonesNasdaq CompositeS&P 500$CDNS$GM$HLT$KO$ORCL$SBUX$SHW$SNAP$SPGI$SPOT$TMUS$UPS$V
US Markets

Stocks Fall Pre-Bell as US-Iran Peace Talks Stall; Traders Parse Tesla's Results

US equity futures were tracking in the red on Thursday, with no apparent signs of progress in peace talks between the US and Iran, while traders digest Tesla's (TSLA) latest financial results.The S&P 500 and the Nasdaq declined 0.6% each in premarket activity, while the Dow Jones Industrial Average was off 0.7%. The indexes finished Wednesday trading in the green, with the S&P 500 and the Nasdaq hitting record highs after a two-day losing streak.Washington and Tehran have so far failed to meet for a reported fresh round of negotiations this week, with Iran continuing its blockade of the Strait of Hormuz. US Vice President JD Vance called off his trip to Pakistan for the talks after Iran reportedly declined to participate.President Donald Trump extended a ceasefire with Iran earlier in the week, though he said the naval blockade of Iranian ports would continue. Iran's Islamic Revolutionary Guard Corps on Wednesday reportedly announced the seizure of two tankers attempting to cross the Strait of Hormuz.West Texas Intermediate crude oil rose 1.8% to $94.60 a barrel before the open, while Brent gained 1.7% to $103.59."Oil prices continue to whipsaw as traders respond to a confusing and often contradictory flow of headlines, underscoring the deep mistrust between Tehran and Washington," Saxo Bank Head of Commodity Strategy Ole Hansen said in a report on Wednesday.Shares of Tesla (TSLA) decreased 3.3% pre-bell even though the electric vehicle manufacturer reported stronger-than-expected first-quarter results. The company expects capital expenditures of more than $25 billion for 2026, resulting in negative free cash flow for the rest of the year, Chief Financial Officer Vaibhav Taneja said during a late Wednesday conference call, according to a FactSet transcript."Tesla is morphing into a physical (artificial intelligence) stalwart," Wedbush Securities said in a Thursday client note. "The path is here and it requires more (capital expenditure)."ServiceNow (NOW) dropped 13% while International Business Machines (IBM) fell 7.1% following their latest quarterly results. Taiwan Semiconductor Manufacturing's (TSM) US-listed stock was down 1.4%.American Express (AXP), Thermo Fisher Scientific (TMO), Union Pacific (UNP), Honeywell International (HON), Lockheed Martin (LMT), Comcast (CMCSA), Infosys (INFY) and Keurig Dr Pepper (KDP) report their earnings before the bell, among others. Intel (INTC) is scheduled to release its results after the markets close.Thursday's economic calendar has the weekly jobless claims bulletin at 8:30 am ET, along with the Chicago Fed national activity index for March. The S&P Global's (SPGI) flash purchasing managers' index for April is out at 9:45 am, followed by the Kansas City Fed manufacturing index for the same month at 11 am.Treasury yields were moving upwards in premarket action, with the two-year rate advancing 2.5 basis points to 3.82% and the 10-year rate adding 2.7 basis points to 4.32%.Gold declined 1% to $4,707 per troy ounce, while bitcoin retreated 1.8% to $77,473.

Dow JonesNasdaq CompositeS&P 500$AXP$CMCSA$HON$IBM$INFY$INTC$KDP$LMT$NOW$SPGI$TMO$TSLA$UNP

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