US Market Preview | ASTC Up 176.1%; “Micron’s Great” – Trump; MU Surges 7% Prebell, Tops $1T Cap; TSLA-SpaceX Merger Buzz Grows
Astrotech Corporation ASTC | 0.00 | |
AMASS Brands Inc AMSS | 0.00 | |
Flag Ship Acquisition Corporation Rights -31.03.26 For Shares FSHPR | 0.00 | |
Soligenix, Inc. SNGX | 0.00 | |
BioRestorative Therapies, Inc. BRTX | 0.00 |
Most Important News
- EU EV Share Up; Tesla Surges
- Aramco, Emerson sign R&D deal
- Tesla-SpaceX Merger Buzz Grows
S&P 500 index(SPX.US) futures and NASDAQ-100(NDX.US) futures rose Wednesday, as oil slid following a report that Iran agreement would restore traffic through the Strait of Hormuz within one month. It was also one day after the S&P 500 and NASDAQ(IXIC.US) Composite touched new records, as a tech rally led by memory chipmaker Micron Technology, Inc.(MU.US) continued.
Futured tied to the broad market index were 0.3% higher, while Nasdaq 100 futures were 0.9% higher. Dow Jones Industrial Average(DJI.US) futures gained 85 points, or 0.2%.
U.S. crude oil fell below $89 a barrel after Iran’s state TV said the country is committed to restoring commercial traffic through the Strait of Hormuz to pre-war levels within one month, according to Reuters.
Micron was higher by 8% in premarket trading, adding to an epic run which saw the shares surge 19% on Tuesday to top $1 trillion in market capitalization for the first time.
Investors have shifted to memory chip makers as their favorite way to play the AI bull market. Micron’s South Korean peer SK Hynix hit a $1 trillion market value as well overnight.
Micron, whose shares have more than tripled this year, was boosted Tuesday after UBS said the stock could more than double from here because of long-term agreements being signed by memory suppliers to fuel AI implementation.
As of 03:52 PM Riyadh Time, top pre-market movements are as follows:
Change | Price(US$) | Ticker (🌙 means "Shariah Compliant") | Additional Information |
176.1% | 6.82 | Astrotech Corporation(ASTC.US) | Due to strategic initiative in lunar resource development and advanced manufacturing. |
132.0% | 0.19 | Flag Ship Acquisition Corporation Rights -31.03.26 For Shares(FSHPR.US) | - |
112.4% | 7.6 | AMASS Brands Inc(AMSS.US) | - |
96.9% | 1.01 | 🌙 Soligenix, Inc.(SNGX.US) | ThermoVax platform promise amid Ebola outbreak.; Stock advanced sharply 31.5% on last trading day |
54.6% | 0.39 | BioRestorative Therapies, Inc.(BRTX.US) | Stock improved considerably by 20.1% on last trading day |
50.0% | 2.82 | FOUNDER GROUP LIMITED(FGL.US) | - |
31.1% | 1.01 | Linkage Global(UZX.US) | Stock advanced by 72.7% on last trading day |
30.9% | 6.3 | Digital Turbine(APPS.US) | Due to strong quarterly results and fiscal 2027 growth outlook. |
28.3% | 9.1 | 🌙 Q32 Bio Inc(QTTB.US) | Due to securities purchase agreement announcement.; Stock increased substantially by 22.2% on last trading day |
24.9% | 524.99 | 🌙 Dycom Industries, Inc.(DY.US) | Better-than-expected Q1 sales, raised FY27 guidance, and strong Q2 forecasts. |
Two Chip Giants Hit US$1T Club
SK HYNIX INC(HXSCF.US) and Micron Technology, Inc.(MU.US) each surpassed US$1 trillion market cap, driven by AI-fueled memory chip demand.
Trump's Praise Lifts Micron
Micron Technology, Inc.(MU.US) hit US$1 trillion market cap three days after Trump said "Micron's great" at a New York rally. Event prompted investor optimism in the chipmaker's growth outlook. Read in detail>>
SpaceX Sparks Space ETF War
Space Exploration Technologies(SPCX.US) rising popularity ignites ETF competition, boosting demand for space-themed funds despite not being publicly traded.
EU EV Share Up; Tesla Surges
Battery-electric vehicles reached 19.7% EU market share in April 2026 YTD. Tesla Motors, Inc.(TSLA.US) rose 67.2% to 9,169 April units and 61.7% to 67,389 YTD units.
Aramco, Emerson sign R&D deal
Saudi Arabian Oil Co.(2222.SA) and Emerson Electric Co.(EMR.US) agreed to develop digital corrosion management solutions. Read in detail>>
Quantum ETF Hits US$5B Milestone
Defiance Quantum ETF(QTUM.US) crosses US$5B even as IBM, Rigetti, IonQ, D-Wave shares cool off following US$2B CHIPS Act grants. Read in detail>>
Tesla-SpaceX Merger Buzz Grows
Elon Musk discussed merging Tesla Motors, Inc.(TSLA.US) with Space Exploration Technologies(SPCX.US), CNBC reports, as SpaceX nears a Wall Street IPO. Read in detail>>
Nvidia Plans US$150B Taiwan Bet
NVIDIA Corporation(NVDA.US) CEO Huang says the firm will invest about US$150 billion annually in Taiwan, per news reports from his Taipei event.
Soligenix Stock Surges 72% on Ebola Vaccine News
Soligenix, Inc.(SNGX.US) shares soared after its ThermoVax platform could rapidly develop a Bundibugyo virus vaccine amid a WHO-declared Ebola emergency. Read in detail>>
IREN Buys Blackwell Systems for AI Cloud
IREN Limited(IREN.US) signed with Dell Technologies, Inc. Class C(DELL.US) for NVIDIA Corporation(NVDA.US) Blackwell gear to back its US$3.4B AI cloud contract. Read in detail>>
Cathie Wood boosts Cerebras, dumps AMD
Ark Invest sold US$2.7M of Advanced Micro Devices, Inc.(AMD.US) shares Tuesday and bought US$8.5M ofCerebras Systems(CBRS.US) stock. Read in detail>>
BigBear.ai CFO Sells 10,000 Shares
BigBear.ai Holdings, Inc.(BBAI.US) CFO Sean Ricker sold 10,000 shares for US$43,300 on May 22, reducing his holdings to 609,256. Read in detail>>
Micron options explode 19% higher
Micron Technology, Inc.(MU.US) surged 19.29% to US$895.88 Monday as May 29 options show frenzied calls and gamma squeeze.
NVDA Drops 10% Despite Record Revenue
NVIDIA Corporation(NVDA.US) fell almost 10% in 2 weeks though reporting a record quarter, with stock barely reacting. Read in detail>>
Netcapital Stock Jumps 19% After Hours
NetCapital Inc(NCPL.US) shares surged 19.63% to US$1.28 on Tuesday after announcing a business update call with new CEO Todd Violette. Read in detail>>
Gerber: Tesla Sales Have Bottomed
Investor Ross Gerber claims Tesla Motors, Inc.(TSLA.US) sales bottomed, boosted by an Iran war-driven gas price spike pushing drivers toward EVs. Read in detail>>
Strategist names Google, Amazon AI winners
Strategist Gina Martin Adams says Alphabet Inc. Class A(GOOGL.US) and Amazon.com, Inc.(AMZN.US) are Magnificent Seven winners as free cash flow yields slide for two years. Read in detail>>
Bath & Body Works Reports Mixed Q1, Stock Rises
Bath & Body Works, Inc.(BBWI.US) fiscal Q1 adjusted EPS fell 35% to US$0.32; shares gained pre-bell.
PDD Earnings Slip Despite Revenue Rise
PINDUODUO INC.(PDD.US) Q1 non-GAAP earnings fell to 9.51 renminbi per share; shares down on the news.
Kingsoft Cloud Loss Flat
Kingsoft Cloud Holdings(KC.US) posted a Q1 loss of RMB0.08 per share, flat YoY, with revenue increasing.
| Riyadh Time | Event | Previous Value | Forecast Value |
| 11:00 AM | Fed Logan Speech | ||
| 02:00 PM | MBA 30-Year Mortgage Rate | 6.56% | |
| 02:00 PM | MBA Mortgage Applications | -2.3% | |
| 02:00 PM | MBA Mortgage Market Index | 283.5 | |
| 02:00 PM | MBA Mortgage Refinance Index | 920.2 | |
| 02:00 PM | MBA Purchase Index | 170.4 | |
| 03:15 PM | ADP Employment Change Weekly | 42.25K | |
| 03:55 PM | Redbook YoY | 8.1% | |
| 05:00 PM | Richmond Fed Manufacturing Index | 3 | 4 |
| 05:00 PM | Richmond Fed Manufacturing Shipments Index | -2 | -1 |
| 05:00 PM | Richmond Fed Services Revenues Index | 9 | 8 |
| 05:30 PM | Dallas Fed Services Index | -9.9 | -8 |
| 05:30 PM | Dallas Fed Services Revenues Index | 4.3 | 3.5 |
| 06:30 PM | 17-Week Bill Auction | 3.590% | |
| 08:00 PM | 5-Year Note Auction | 3.955% | |
| 10:55 PM | Fed Cook Speech | ||
| 11:30 PM | API Crude Oil Stock Change | -9.1M | |
| 03:00 AM +1 | Fed Jefferson Speech |