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Wire

Top Midday Stories: TSMC Earnings, Guidance Top Estimates But Shares Fall; PepsiCo Shares Rise Following Q1 Earnings Report

All three major US stock indexes were up in late-morning trading Thursday, as investors take in updates on the war in Iran as well as the latest large-company earnings reports.In company news, Taiwan Semiconductor Manufacturing (TSM), or TSMC, reported Q1 earnings Thursday of 22.08 New Taiwan dollars ($0.70) per diluted share, up from NT$13.94 a year earlier and above the FactSet consensus analyst estimate of NT$20.92. First-quarter net revenue was NT$1.134 trillion, up from NT$839.25 billion a year ago and above the FactSet consensus of NT$1.121 trillion. For Q2, the chipmaker said it expects net revenue of $39 billion to $40.2 billion, above the FactSet consensus of $38.09 billion. TSMC shares were down 1.9% around midday.PepsiCo (PEP) reported fiscal Q1 core earnings Thursday of $1.61 per diluted share, up from $1.48 a year earlier and above the FactSet consensus of $1.54. Fiscal Q1 net revenue was $19.44 billion, up from $17.92 billion a year ago and above the FactSet consensus of $18.95 billion. For fiscal 2026, PepsiCo said it continues to expect core constant currency EPS growth of 4% to 6% and organic revenue growth of between 2% and 4%. PepsiCo shares were up 2.1%.Abbott Laboratories (ABT) reported Q1 adjusted earnings Thursday of $1.15 per diluted share, up from $1.09 a year earlier and above the FactSet consensus of $1.14. First-quarter net sales were $11.16 billion, up from $10.36 billion a year ago and above the FactSet consensus of $11.00 billion. For Q2, Abbott said it expected adjusted diluted EPS of $1.25 to $1.31, below the FactSet consensus of $1.36. For full-year 2026, the company said it expects adjusted EPS of $5.38 to $5.58, down from its prior guidance of $5.55 to $5.80 and below the FactSet consensus of $5.60. Full-year 2026 comparable sales are expected to grow 6.5% to 7.5%, the company said. Abbott shares were down 4.4%.Charles Schwab (SCHW) reported Q1 adjusted earnings Thursday of $1.43 per diluted share, up from $1.04 a year earlier and above the FactSet consensus of $1.40. First-quarter net revenue was $6.48 billion, up from $5.60 billion a year ago but below the FactSet consensus of $6.50 billion. The company also said Thursday it will launch a spot cryptocurrency trading service for retail customers in the coming weeks. For a fee of 75 basis points per transaction, the platform will provide direct trading of bitcoin and ethereum alongside traditional investments, the company said. Shares of Schwab were down 4.8%.Stellantis (STLA) and Microsoft (MSFT) said Thursday they have signed a five-year strategic collaboration deal to co-develop advanced artificial intelligence, cybersecurity and engineering capabilities for the automaker's vehicles. Separately, Stellantis is planning a 100-million-euro ($117.9 million) investment to update its Poissy assembly plant near Paris, Bloomberg reported Thursday. The company will continue making vehicles at the facility through at least the end of 2028, the report said. Stellantis shares were down 0.8%, while Microsoft shares were up 1.6%.Oracle (ORCL) said Thursday it plans to expand its multicloud networking capabilities to provide high-performance connectivity between Oracle Cloud Infrastructure and Amazon's (AMZN) Amazon Web Services. Oracle shares were up 4.1%, while Amazon shares were down 0.3%.Sales of Tesla's (TSLA) Cybertruck were boosted by purchases from Elon Musk's other companies, Bloomberg reported Thursday, citing S&P Global Mobility registration data. Tesla shares were down 1.1%.Price: $368.08, Change: $-7.02, Percent Change: -1.87%

$ABT$AMZN$MSFT$ORCL$PEP$SCHW$STLA$TSLA$TSM
Sectors

Sector Update: Tech Stocks Flat to Higher Premarket Thursday

Technology stocks were flat to higher premarket Thursday, with the State Street SPDR S&P Semiconductor ETF (XSD) inactive and the State Street Technology Select Sector SPDR Fund (XLK) advancing by 0.3%.Taiwan Semiconductor Manufacturing (TSM) stock was down more than 1% even after the company posted higher Q1 earnings and net revenue.Guidewire (GWRE) shares were up more than 1% after the company said it launched an artificial intelligence assistant for property and casualty insurers.JinkoSolar Holding (JKS) shares were down nearly 10% after the company reported a wider Q4 net loss as revenue declined during the period.

$GWRE$JKS$TSM$XLK$XSD
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
Sectors

Sector Update: Tech

Technology stocks were steady premarket Thursday, with the State Street SPDR S&P Semiconductor ETF (XSD) inactive and the State Street Technology Select Sector SPDR Fund (XLK) marginally advancing.Taiwan Semiconductor Manufacturing (TSM) stock was down more than 2% even after the company posted higher Q1 earnings and net revenue.

$TSM
Japan

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

US equity futures were higher pre-bell on Thursday as optimism for an end to the Middle East conflict continued to grow, with a second round of talks and a ceasefire extension on the horizon.Dow Jones Industrial Average futures were 0.1% 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, which 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 0.7% at $95.60 per barrel and US West Texas Intermediate crude flat at $91.28 per barrel.Initial jobless claims are projected to have dropped to 213,000 in the week ended April 11 from 219,000 the prior week, according to estimates 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.

Dow JonesNasdaq CompositeS&P 500$NFLX$SCHW$TSM
Equities

Social Buzz: Wallstreetbets Stocks Mixed Pre-Bell Thursday; Robinhood Markets to Advance, Allbirds to Decline

The most-talked-about stocks in the Reddit subforum Wallstreetbets were mixed hours before Thursday's opening bell.Robinhood Markets (HOOD) advanced by 2% pre-bell, following a 10.4% rise from Wednesday's session.Microsoft (MSFT) was 1.5% higher premarket, after a 4.6% increase from the previous session.Tesla (TSLA) was up 0.7% in pre-bell activity, after closing Wednesday with a 7.6% increase.Allbirds (BIRD) fell by 30% hours before market open, swinging from a 582% rise at Wednesday's close.Taiwan Semiconductor Manufacturing (TSM) was 2.9% lower premarket, following a 1.3% decline from Wednesday's session.DTE Energy (DTE) was down 0.5% in pre-bell hours, after a 0.7% decline from the previous session.Sandisk (SNDK) was 1% lower premarket, after closing Wednesday with a 5.6% fall.Nvidia (NVDA) was down 0.4% premarket, following a 1.2% increase from Wednesday's session.

$BIRD$DTE$HOOD$MSFT$NVDA$SNDK$TSLA$TSM
Research

Research Alert: Tsmc: Q1 2026 Results In Line, Supported By Ai Demand And Margin Upside

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:TSMC's Q1 2026 results were in line with expectations, with net profit rising 13% Q/Q and 58% Y/Y to TWD572B, representing 23%-24% of full-year estimates, while revenue increased 8% Q/Q and 35% Y/Y to TWD1,134B. Margins exceeded management guidance, with gross margin at 66% (vs. 65% guidance) and operating margin at 58% (vs. 56% guidance), supported by higher utilization, better cost control, and favorable forex rates. Strong AI-led demand drove advanced nodes, which accounted for 74% of wafer revenue, while the HPC segment grew 20% Q/Q to 61% of total revenue, offsetting weaker smartphone and automotive demand. Management's outlook points to continued HPC strength and ongoing 3nm ramp supporting further revenue growth. We view the results as consistent with a strong AI-led cycle, with growth likely to continue into Q2 2026 but with a more balanced trajectory as new capacity ramps. Overall, earnings visibility remains strong, with AI demand continuing to anchor performance.

$TSM
Asia Markets

Exchange-Traded Funds Higher, Equity Futures Mixed Pre-Bell Amid Lingering Geopolitical Uncertainty, CPI Focus

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 0.1% higher in Friday's premarket activity amid lingering geopolitical uncertainty and the release of consumer inflation data.US stock futures were mixed, with S&P 500 Index futures up 0.03%, Dow Jones Industrial Average futures slipping 0.04%, and Nasdaq futures gaining 0.1% before the start of regular trading.US consumer prices rose 0.9% in March, in line with expectations, compared with a 0.3% gain in the prior month.The University of Michigan's preliminary consumer sentiment index for April and the factory orders data for February are due to be released at 10 am ET.In premarket activity, bitcoin was up by 0.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.3% higher, Ether ETF (EETH) advanced 0.2%, and Bitcoin & Ether Market Cap Weight ETF (BETH) gained 0.3%.Power Play:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) retreated marginally by 0.01%, the Vanguard Health Care Index Fund (VHT) was up 0.8%, while the iShares US Healthcare ETF (IYH) was inactive. The iShares Biotechnology ETF (IBB) slipped 0.4%.Telix Pharmaceuticals (TLX) stock was up more than 9% premarket after the company said the US Food and Drug Administration accepted its resubmitted new drug application for its investigational glioma imaging agent Pixclara.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was flat and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.8%. The iShares US Consumer Staples ETF (IYK) advanced 0.4%. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.1%. The VanEck Retail ETF (RTH) was inactive, while the State Street SPDR S&P Retail ETF (XRT) was down 0.4%.Shake Shack (SHAK) shares were up more than 3% pre-bell after Mizuho upgraded the company's stock to outperform from neutral and lifted its price target to $120 from $100.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.6%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 0.8% higher.SLM (SLM) shares were up more than 2% pre-bell. RBC cut the company's price target to $28 from $32 while maintaining its outperform rating.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained 0.2%, and the iShares US Technology ETF (IYW) was 0.2% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.01%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) was 0.7% higher, while the iShares Semiconductor ETF (SOXX) rose by 0.7%.Taiwan Semiconductor Manufacturing (TSM) shares were up more than 2% in premarket activity after the company reported higher Q1 net revenue.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.3%, while the Vanguard Industrials Index Fund (VIS) gained 0.3% and the iShares US Industrials ETF (IYJ) was inactive.A. O. Smith Corporation (AOS) stock was up more than 1% before the opening bell after Goldman Sachs raised its price target to $61 from $69.EnergyThe iShares US Energy ETF (IYE) was flat, while the State Street Energy Select Sector SPDR ETF (XLE) was down by 0.2%.Eni (E) stock was up nearly 1% before Friday's opening bell after the company said it has invested $70 million in Nouveau Monde Graphite (NMG). Nouveau stock was down 9%.CommoditiesFront-month US West Texas Intermediate crude oil gained 0.1% to reach $97.95 per barrel on the New York Mercantile Exchange. Natural gas retreated by 1.5% to $2.63 per 1 million British Thermal Units. The United States Oil Fund (USO) was down by 1.8%, while the United States Natural Gas Fund (UNG) was 1.2% lower.Gold futures for May were down by 0.6% at $4,790.50 an ounce on the Comex. Silver futures declined by 0.9% to $75.76 an ounce. SPDR Gold Shares (GLD) was 0.01% higher, and the iShares Silver Trust (SLV) advanced by 0.3%.

Dow JonesNasdaq CompositeS&P 500$AOS$BETH$BITO$E$EEM$EETH$EXI$FAS$FAZ$GLD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$NMG$PMR$QQQ$RTH$SHAK$SLM$SLV$SOXX$SPY$TLX$TSM$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Sectors

Sector Update: Tech Stocks Edge Higher Premarket Friday

Technology stocks were edging higher premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.3% and the State Street SPDR S&P Semiconductor ETF (XSD) advancing by 1.2%.Taiwan Semiconductor Manufacturing (TSM) shares were up more than 2% after the company reported Q1 net revenue of 1.134 trillion New Taiwan dollars ($35.69 billion), up from NT$839.25 billion.Lumentum Holdings (LITE) is seeing demand for its optical components among the US hyperscalers accelerating, putting it on course to fill its order books through 2028, Bloomberg News reported, citing Chief Executive Michael Hurlston. Shares of Lumentum Holdings were up more than 5% pre-bell.ASE Technology (ASX) stock was up more than 1% after the company reported unaudited net revenue of 61.58 billion New Taiwan dollars ($1.94 billion) for March, up 18% sequentially and 15% from a year ago.

$ASX$LITE$TSM$XLK$XSD
Asia Markets

US Equity Futures Flat Pre-Bell as Traders Track Developments in Fragile US-Iran Ceasefire

US equity futures were flat pre-bell Friday as traders were wary of the fragile two-week ceasefire between the US and Iran.Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were up 0.2%, and Nasdaq futures were 0.3% higher.The Strait of Hormuz remains shut, while Israel continues to exchange fire with Hezbollah in Lebanon, even with the US-Iran talks scheduled on Saturday morning in Islamabad. Israel has said it would start talks with the Lebanese government targeting to disarm Hezbollah and end attacks in the nation.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.5% at $95.42 per barrel and US West Texas Intermediate crude 0.5% lower at $97.42 per barrel.The March consumer price index, released at 8:30 am ET, gained 0.9% as expected, compared with a 0.3% increase in the previous month, according to estimates compiled by Bloomberg. The University of Michigan consumer sentiment index for April is expected at 51.5%, down from 53.3% previously, and the February factory orders are expected to have declined 0.2% following an increase of 0.1% in January. The two reports are scheduled for 10 am ET.In other world markets, Japan's Nikkei closed 1.8% higher, Hong Kong's Hang Seng ended 0.6% higher, and China's Shanghai Composite finished 0.5% higher. Meanwhile, the UK's FTSE 100 was up 0.4%, and Germany's DAX index was up 0.8% in Europe's early afternoon session.In equities, Taiwan Semiconductor Manufacturing (TSM) shares were up 2.3% after the company reported higher Q1 net revenue. Marvell Technology (MRVL) shares were 3.5% higher after Barclays upgraded the company's stock to overweight from equalweight.On the losing side, ServiceNow (NOW) shares were down 1.6% after the company said it is shifting its entire product portfolio from artificial intelligence sidecars to full AI integration. UBS also downgraded the company's stock to neutral from buy.

Dow JonesNasdaq CompositeS&P 500$MRVL$NOW$TSM
Sectors

Sector Update: Tech

Technology stocks were edging higher premarket Friday, with the State Street Technology Select Sector SPDR Fund (XLK) up 0.4% and the State Street SPDR S&P Semiconductor ETF (XSD) advancing by 1.2%.Taiwan Semiconductor Manufacturing (TSM) shares were up more than 2% after the company reported Q1 net revenue of 1.134 trillion New Taiwan dollars ($35.69 billion), up from NT$839.25 billion.

$TSM
US Markets

Stocks Mostly Down Pre-Bell as US-Iran Talks Loom; Consumer Inflation Report on Deck

The main US stock measures were mostly tracking in the red before the open Friday as traders await talks between US and Iranian officials and a key report on consumer inflation.The S&P 500 and the Dow Jones Industrial Average edged down 0.1% each in premarket activity, while the Nasdaq was up less than 0.1%. The indexes finished the previous trading session higher, with the S&P 500 and the Nasdaq recording their seventh straight day of gains.Officials from the US and Iran are expected to meet on Saturday in Pakistan, which helped broker the truce between the two countries earlier in the week.Israeli Prime Minister Benjamin Netanyahu said the country would negotiate with Lebanon on disarming Hezbollah, CNN reported Thursday. Iran's parliamentary speaker, Mohammad Bagher Ghalibaf, previously called Israel's continued attacks on Lebanon a violation of the ceasefire agreement between Washington and Tehran.In a social media post on Thursday, President Donald Trump said Iran was "doing a very poor job" of allowing oil to go through the Strait of Hormuz. "That is not the agreement we have," Trump said.Iranian state media reported that transit through the strait was halted following Israeli strikes on Lebanon.West Texas Intermediate crude oil nudged 0.2% higher to $98.02 a barrel before the opening bell, while Brent ticked up 0.1% to $95.97. "With a full reopening of the strait unlikely in the near term, oil prices are expected to remain supported, as disruptions linked to reduced output and refinery shutdowns will take time to unwind," ING Bank said in a note on Thursday.The consumer price index report for March is scheduled for an 8:30 am ET release. Official data are expected to show that consumer inflation accelerated 0.9% and 3.4% on sequential and annual bases last month, according to a Bloomberg-compiled consensus.Treasury yields were down in premarket action, with the two-year rate retreating 0.2 basis points to 3.78% and the 10-year rate off 0.4 basis points to 4.29%.Government data on Thursday showed that inflation accelerated sequentially in February as real consumer spending edged higher, with analysts expecting price pressures to intensify due to the spillover effects of the Middle East conflict.The US economy expanded at a slower rate in the fourth quarter than previously projected, as consumer spending growth decelerated, according to the Bureau of Economic Analysis' third estimate.Minutes from the Federal Reserve's March meeting showed earlier in the week that participants emphasized the need for the central bank to be "nimble" in adjusting monetary policy amid heightened macro risks.Friday's economic calendar also has the preliminary University of Michigan consumer sentiment report for April at 10 am, while the weekly Baker Hughes oil-and-gas rig count is out at 1 pm.Taiwan Semiconductor Manufacturing's (TSM) US-listed shares gained 2% pre-bell after the chipmaker disclosed a year-over-year increase in its first-quarter revenue. Snowflake (SNOW) rebounded 0.2% following a 12% drop at the close of the previous trading session.Gold declined 0.8% to $4,779 per troy ounce, while bitcoin slipped 0.2% to $71,920.

Dow JonesNasdaq CompositeS&P 500$SNOW$TSM

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