US Market Preview | MEHA Up 104.4%; Oil Gains on Trump's Peace Deal Rejection; GOOG Nears NVDA Cap; Trump to Visit China
Micron Technology, Inc. MU | 0.00 | |
Intel Corporation INTC | 0.00 | |
QUALCOMM Incorporated QCOM | 0.00 | |
Tesla Motors, Inc. TSLA | 0.00 | |
Functional Brands Inc MEHA | 0.00 |
Most Important News
- Trump to Pay State Visit to China During May 13-15;
- Tech Giants Continue to Propel US Stock Market Outperformance;
- Lumentum Shares Up Over 4% Pre-Market Ahead of Nasdaq 100 Inclusion;
- Alphabet Plans First Yen Bond Issue to Support AI Investments;
Stock futures fell on Monday, following a winning week on Wall Street, as oil prices jumped after President Donald Trump rejected Iran’s latest proposal to end the war.
As of 03:39 PM Riyadh Time, futures tied to the Dow Jones Industrial Average fell 19 points, or 0.04%. S&P 500 futures hovered around the flatline, while Nasdaq 100 futures fell 0.13%.
In pre-market trading, tech stocks showed varied movements. Micron Technology, Inc.(MU.US) and Intel Corporation(INTC.US) saw gains of over 5%, while QUALCOMM Incorporated(QCOM.US) rose by 4.28%. In contrast, Tesla Motors, Inc.(TSLA.US) experienced a decline of 0.77%.
As of 03:41 PM Riyadh Time, top pre-market movements are as follows:
Change | Price($) | Ticker (🌙 means "Shariah Compliant") |
104.4% | 0.19 | Functional Brands Inc(MEHA.US) |
76.3% | 3.93 | 🌙 Click Holdings Limited Class A(CLIK.US) |
55.8% | 6.95 | Odysight.ai Inc.(ODYS.US) |
47.2% | 0.06 | EZGO Technologies Ltd.(EZGO.US) |
37.0% | 36.98 | 🌙 Everspin Technologies, Inc.(MRAM.US) |
34.3% | 25.21 | Beazer Homes USA, Inc.(BZH.US) |
-89.6% | 0.08 | Haoxi Health Technology Ltd.(HAO.US) |
-39.6% | 0.34 | 🌙 CCSC Technology International Holdings Limited Class A(CCTG.US) |
-36.7% | 0.23 | 🌙 NetClass Technology Inc Class A(NTCL.US) |
Trump to Pay State Visit to China During May 13-15
US President Donald Trump will visit China from May 13 to 15, marking his second state visit since 2017. The trip may include a large business delegation, possibly 800 people, including cabinet members and CEOs from major firms such as NVIDIA Corporation(NVDA.US), Apple Inc.(AAPL.US), Boeing Company(BA.US), QUALCOMM Incorporated(QCOM.US), Blackstone Inc.(BX.US), Citigroup Inc.(C.US), and Visa(V.US). Jensen Huang expressed that he would be honored to join if invited.
Trump Rejects Iran's 30-Day Sanctions Proposal
Iran proposed that the US lift oil-related sanctions within 30 days, but former US President Donald Trump reportedly called the proposal "completely unacceptable." He accused Iran of using negotiations to delay and mock the US.
Tech Giants Continue to Propel US Stock Market Outperformance
According to Citigroup strategists led by Beata Manthey, the trend of a few large tech stocks driving US market outperformance is expected to continue. They recommend overweighting US markets in global asset allocation and favor sectors like technology, healthcare, and materials. Manthey notes that market concentration is likely to persist, with fundamentals playing a key role amid uncertainties from the Iran conflict. The renewed AI boom has helped US stocks surpass European markets, with the S&P 500 up 8.4% and the Nasdaq 100 soaring nearly 16% in 2026, driven by strong semiconductor demand.
Lumentum Shares Up Over 4% Pre-Market Ahead of Nasdaq 100 Inclusion
Lumentum Holdings, Inc.(LITE.US) surged over 4% pre-market as it prepares to join the Nasdaq 100 on May 18, replacing CoStar Group. Already part of the S&P 500 since March 23, 2026, Lumentum has rapidly gained entry to two major US indices. The stock soared over 339% in 2025 and is up 145% this year, with a market cap exceeding $70 billion.
Alphabet Plans First Yen Bond Issue to Support AI Investments
Alphabet Inc. Class A(GOOGL.US) plans its first yen bond issuance to potentially fund AI-related investments, according to reports. Alphabet is expanding its financing sources, having raised its capital expenditure forecast to $190 billion this year. The tech giant aims to surpass NVIDIA as the world's largest company by market capitalization.
Amazon Enters Swiss Franc Bond Market Amid AI Investment Push
Amazon.com, Inc.(AMZN.US) is set to issue Swiss franc bonds for the first time, joining other cloud giants in raising funds for AI capital spending. The company plans a six-part issuance with maturities ranging from 3 to 25 years, managed by BNP Paribas, Deutsche Bank, and JPMorgan. Experts say Swiss investors’ strong demand for high-rated US firms makes this move strategic for diversifying funding sources and reducing borrowing costs.
Netflix Shifts Focus to Ad-Supported Streaming Model
Netflix, Inc.(NFLX.US) has raised its ad-free standard subscription to $20/month, while its ad-supported plan is around $9/month. This shift marks a move from pure subscription fees to a dual model of subscription and ad revenue. The new focus is on how long users watch and the ad exposure they generate, rather than just subscription fees, redefining user value in the streaming industry.
Uber Technologies Reports Global Improvement in Delivery Market Position
During its FY26Q1 earnings call, Uber Technologies,Inc.(UBER.US) highlighted significant global improvements in its Delivery market position. In the US, the company is investing in suburban market expansion. Internationally, Uber is on the offensive, maintaining its stronghold in Europe against competitors like DoorDash and Just Eat Takeaway, and has entered seven new markets, including a successful launch in Finland. In the Asia-Pacific region, Australia, Japan, and Taiwan have shown strong performance, with Australia achieving a 30% growth rate from an already high penetration base.
Circle's Q1 Earnings Reveal Mixed Results Amidst Stock Fluctuations
In Q1 2026, Circle(CRCL.US) reported a 20% increase in revenue to $694 million, while net profit fell by 15% to $55 million due to a 76% rise in operating expenses, including stock compensation post-IPO. The USDC circulation grew by 28% to $77 billion, driving core growth. Strategically, the ARC ecosystem completed a $222 million presale, and the Agent Stack platform expanded into AI agent payments. The company maintained its full-year guidance, excluding potential ARC contributions. Circle's stock initially surged over 8% but later narrowed to a 2% increase.
Intel Shares Surge Over 4% Pre-Market Amid NVIDIA Collaboration News
Intel Corporation(INTC.US) shares rose over 4% pre-market. The stock had previously gained nearly 14% last Friday and is up over 238% this year. CEO Lip-Bu Tan congratulated NVIDIA Corporation(NVDA.US)'s Jensen Huang on an honorary doctorate and mentioned on social media that the two companies are developing new products. Rumors suggest a SoC integrating NVIDIA's RTX Rubin GPU with Intel’s Titan Lake processor, expected by 2028 or 2029.
Moderna Shares Surge Nearly 7% Pre-Market Amid Hantavirus Vaccine Research Updates
Moderna(MRNA.US) continues its pre-market rally, up nearly 7%, as the company advances multiple early-stage studies related to hantavirus vaccines. Moderna revealed collaborations with the US Army Medical Research Institute of Infectious Diseases and Korea University’s Vaccine Innovation Center to develop potential immunization solutions. These efforts commenced before the recent hantavirus outbreak aboard the "Hondius" cruise ship.
- IREN Limited(IREN.US) announced plans to issue $2 billion in convertible notes set to mature in 2033. The news triggered a nearly 9% drop in the company’s stock price during pre-market trading.
| Riyadh Time | Event | Previous Value | Forecast Value |
| 05:00 PM | Existing Home Sales | 3.98M | 4.06M |
| 05:00 PM | Existing Home Sales MoM | -3.6% | 2.1% |
| 06:30 PM | 3-Month Bill Auction | 3.610% | |
| 06:30 PM | 6-Month Bill Auction | 3.610% | |
| 08:00 PM | 3-Year Note Auction | 3.897% |