US Market Preview | HCWB Surges 193.1%; Futures Down as US Rebuffs Iran's Written Peace Proposal; Trump Trades $220M-$750M in Stocks
Advanced Micro Devices, Inc. AMD | 0.00 | |
Micron Technology, Inc. MU | 0.00 | |
NVIDIA Corporation NVDA | 0.00 | |
Cerebras Systems, Inc. Class A CBRS | 0.00 | |
HCW Biologics, Inc. HCWB | 0.00 |
Most Important News
- US Rejects Iran's Proposal to End War;
- OpenAI Secures US$122 Billion, Faces Massive Compute Shortfall;
- China to Purchase US Soybeans, Energy, and 200 Boeing Planes;
- Figma's Stock Soars On Strong Q1 Earnings;
U.S. stock futures fell on Friday, bogged down by losses in technology stocks and a rise in U.S. Treasury yields, after a summit between President Donald Trump and Chinese President Xi Jinping ended and left traders worried about no major policy breakthroughs.
As of 03:41 PM Riyadh Time, S&P 500 futures shed 1.2%, while Nasdaq-100 futures lost 1.71%. Dow Jones Industrial Average futures were down 468 points, or 0.93%.
Investors took profits in tech after the group saw sharp gains recently. Notably, Nasdaq-100 futures were bogged down by a 4% loss in Intel and a 3% decline in Advanced Micro Devices, Inc.(AMD.US) and Micron Technology, Inc.(MU.US). NVIDIA Corporation(NVDA.US) dropped 2%, while Cerebras Systems, Inc. Class A(CBRS.US)— which surged 68% Thursday after it began trading on the Nasdaq — shed 3%.
As of 03:42 PM Riyadh Time, top pre-market movements are as follows:
Change | Price(US$) | Ticker (🌙 means "Shariah Compliant") |
193.1% | 0.99 | HCW Biologics, Inc.(HCWB.US) |
101.2% | 1.61 | Dreamland Limited Class A(TDIC.US) |
76.2% | 2.15 | 🌙 Auddia Inc.(AUUD.US) |
63.0% | 0.48 | Murano Global Investments PLC(MRNO.US) |
54.3% | 6.28 | Super League Enterprise, Inc.(SLE.US) |
-39.6% | 0.3 | Biomotion Sciences. Ordinary Shares(SLXN.US) |
-36.6% | 0.45 | China Recycling Energy Corp.(CREG.US) |
US Rejects Iran's Proposal to End War
According to the Tehran Times, the U.S. has rejected Iran's "14-point" written proposal aimed at ending the ongoing conflict. The U.S. government responded by dismissing Tehran's plan and reiterated its firm stance, particularly concerning nuclear issues. Iran's proposal outlined a two-phase negotiation process: the first phase aimed to end hostilities on all fronts, and, contingent upon meeting Iran's conditions, the second phase would initiate talks on nuclear matters.
OpenAI Secures US$122 Billion, Faces Massive Compute Shortfall
OpenAI completed a US$122 billion funding round, valuing the company at US$750 billion, with investors including Microsoft, SoftBank, and UAE sovereign funds. CEO Sam Altman stated the funds will be used entirely for AI compute procurement, but noted a US$30 billion shortfall remains. Global AI compute demand is expected to grow 100x by 2030. NVIDIA Corporation(NVDA.US) rose 4.39% yesterday, hitting a record high, but dipped 0.03% pre-market.
Record-Breaking IPO? SpaceX Set to Release Prospectus Next Week, Aiming for $75 Billion
SpaceX is reportedly planning to begin its IPO roadshow around June 8, introducing the offering to investors. According to regulatory requirements, the prospectus must be disclosed at least 15 days before the roadshow starts, though the company and its underwriting team aim to release the documents earlier to allow investors more time to review the financial data. However, insiders note that the timeline may still be subject to change. SpaceX has not yet commented on these plans.
Next Week's Key Earnings: AI & Retail Insights
NVIDIA Corporation(NVDA.US) reports earnings on Wednesday amid the AI boom, while Walmart Inc.(WMT.US), Target Corporation(TGT.US), Home Depot, Inc.(HD.US), and TJX Companies Inc(TJX.US) provide updates on inflation-impacted consumer spending trends. Read in detail>>
US Trade Rep: Chip Controls Not Key in China Talks
US Trade Representative Jamieson Greer stated to Bloomberg TV that semiconductor chip export controls weren't a major discussion point with Chinese officials in Beijing. Read in detail>>
Anthropic's US$1.5B Author Settlement Under Scrutiny
A US judge sought more details on Anthropic's proposed US$1.5 billion settlement with authors over alleged book misuse for AI training, delaying final approval amid concerns over fees and exclusions. Read in detail>>
Trump's US$750M Q1 2026 Stock Trades Revealed
Trump bought NVIDIA Corporation(NVDA.US), Apple Inc.(AAPL.US), and an S&P 500 index fund, while selling Microsoft Corporation(MSFT.US), Amazon.com, Inc.(AMZN.US), and Meta Platforms(META.US), with total trades valued between US$220M-$750M, raising ethical concerns. Read in detail>>
China to Purchase US Soybeans, Energy, and 200 Boeing Planes
US President Donald Trump revealed in a Fox News interview that China has agreed to buy US soybeans, oil, LNG, and other energy products, as well as 200 planes from Boeing Company(BA.US). Trump noted this exceeds $BA's initial expectation of 150 planes, potentially creating numerous US jobs. Treasury Secretary Mnuchin told CNBC that China's commitment under last year's Busan agreement resolves the soybean trade issue.
iPhone 18 Series to Feature Apple's In-House 5G Chip
According to MacRumors, Apple Inc.(AAPL.US) plans to equip its iPhone 18 series with a self-developed 5G chip, potentially reducing dependence on QUALCOMM Incorporated(QCOM.US). Additionally, Apple's iOS 26.3 update introduces a "Limit Precise Location" feature to enhance privacy by minimizing location data shared with carriers.
Figma's Stock Soars On Strong Q1 Earnings
Figma(FIG.US) reported a 54% YoY paid customer growth, 46% YoY revenue surge to US$333.44M, and raised full-year revenue guidance to US$1.422B-$1.428B, with shares jumping 6.86% Thursday and 11.66% after-hours. Read in detail>>
SanDisk Urges Shareholders to Reject Tutanota's Discounted "Mini-Tender" Offer
Sandisk Corporation(SNDK.US) stated on Friday, advising shareholders to reject Tutanota LLC's unsolicited "mini-tender" offer to purchase up to 100,000 shares at $1,150 per share. This represents less than 0.07% of SanDisk's outstanding shares as of April 24, 2026. SanDisk emphasized it neither endorses nor supports the offer and has no affiliation with Tutanota or its proposal. The company strongly urges investors not to take any action. The offer is contingent on SanDisk's stock closing above the offer price by the deadline, potentially resulting in returns below market value for participating shareholders.
DeFi Technologies' Q1 Earnings Plummet
DeFi Technologies Inc(DEFT.US) reports Q1 EPS of US$0.01, down 90% YoY, with sales of US$11.193M, a 74.44% YoY drop. Read in detail>>
Blaize Holdings Q1 2026: Revenue Soars Amid AI Push
Blaize Holdings, Inc.(BZAI.US) reported Q1 2026 revenue of US$2.7M, up 170% YoY, reaffirming US$130M annual guidance. Strategic moves include expanding the Neotensor contract to US$70M, launching Face Recognition AI, and partnerships with Winmate and Nokia. A US$35M equity offering strengthened its balance sheet. Read in detail>>
Applied Mat's Q1 2026 Earnings Highlights
Applied Materials, Inc.(AMAT.US) reports record Q1 2026 revenue and earnings, driven by AI computing infrastructure demand. The company forecasts over 30% growth in semiconductor equipment for 2026, with strategic initiatives including AI-driven services, EPIC center launch, and acquisitions to strengthen packaging technologies. Read in detail>>
Supermicro's New Chief Revenue Officer
Super Micro Computer, Inc.(SMCI.US) has appointed Matthew Thauberger as its Chief Revenue Officer, as announced on May 14 (Reuters). Read in detail>>
| Riyadh Time | Event | Previous Value | Forecast Value |
| 03:30 PM | NY Empire State Manufacturing Index | 11.00 | 7 |
| 04:15 PM | Industrial Production MoM | -0.5% | 0.1% |
| 04:15 PM | Capacity Utilization | 75.7% | 75.7% |
| 04:15 PM | Industrial Production YoY | 0.7% | 0.4% |
| 04:15 PM | Manufacturing Production MoM | -0.1% | 0.0% |
| 04:15 PM | Manufacturing Production YoY | 0.5% | 0.2% |
| 08:00 PM | Baker Hughes Oil Rig Count | 410 | |
| 08:00 PM | Baker Hughes Total Rigs Count | 548 |