US Market Preview | NCT Surges 133.5%; MRVL Eyes 70% Interconnect Growth; SNOW Surges 35% After Blowout Quarter; Trump Drone Push Triggers Sector Rally
Intercont NCT | 0.00 | |
Agape ATP Corp. ATPC | 0.00 | |
SciSparc Ltd. SPRC | 0.00 | |
Astrotech Corporation ASTC | 0.00 | |
iOThree Limited IOTR | 0.00 |
US stock futures came off their lows Thursday after the latest inflation data came in as expected, relieving some fears of persistent inflation even as oil prices rose.
Futures tied to the Dow Jones Industrial Average(DJI.US) slipped 74 points, or 0.2%. S&P 500 index(SPX.US) futures were 0.1% lower, while NASDAQ-100(NDX.US) futures lost about 0.1%.
West Texas Intermediate crude oil futures rose 1.8% to top $90 a barrel. The action came after Reuters reported, citing a U.S. official, that the U.S. military conducted new strikes in Iran, targeting a military site. Brent futures were also up nearly 2% at $96.07.
As of 03:52 PM Riyadh Time, top pre-market movements are as follows:
Change | Price(US$) | Ticker (🌙 means "Shariah Compliant") | Additional Information |
133.5% | 5.72 | Intercont(NCT.US) | - |
108.1% | 5.93 | 🌙 Agape ATP Corp.(ATPC.US) | After 5% Wednesday decline, surged 79.3% pre-market trading. |
101.4% | 8.84 | SciSparc Ltd.(SPRC.US) | - |
70.5% | 23.54 | Astrotech Corporation(ASTC.US) | Strategic initiative on lunar resource development.; Stock advanced by 459.1% on last trading day |
62.2% | 3.52 | 🌙 iOThree Limited(IOTR.US) | - |
45.8% | 16.2 | Horizon Space Acquisition II Corp. Units Cons of 1 Shs + 1 Rts(HSPTU.US) | - |
45.6% | 1.98 | Rocket One Inc. - Common Stock(RKTO.US) | - |
36.2% | 238.68 | 🌙 Snowflake(SNOW.US) | Exceeded first-quarter earnings expectations; announced major AWS partnership. |
34.1% | 0.34 | Synergy CHC Corp.(SNYR.US) | After declining 5% Wednesday. |
32.6% | 1.83 | 3 E Network Technology Group Ltd(MASK.US) | - |
U.S. Core PCE Inflation Hits 2.5-Year High
US April core PCE annual inflation accelerated to 3.3% from 3.2%, matching market expectations and hitting its highest level since November 2023. Meanwhile, monthly core PCE increased by 0.2%, slowing down from the previous 0.3% and coming in below forecasts.
US-Iran Airstrike Exchange Jolts Oil
US airstrike on Iran drew retaliation on US airbase, pushing oil prices up 2.5%.
Fed's Goolsby Warns of Stagflation
Federal Reserve's Goolsby cautioned the US economy points toward stagflation, while Mideast war energy crisis traps central banks between hiking rates to fight inflation or waiting.
Fed's Cook Flags Oil & Labor Risks
Fed Governor Cook monitors inflation expectations, oil prices, and downside labor risks, noting AI structural changes may take time.
AI Chip Stocks Fuel S&P 500 Gains
S&P 500 gains are 70% from semiconductors, mirroring dot-com bubble concentration risk with 18% index weight (NVIDIA Corporation(NVDA.US), Micron Technology, Inc.(MU.US). Read in detail>>
Marvell Tech Earnings Call Released
Marvell Technology, Inc.(MRVL.US) stock higher premarket Thursday as Q1 revenue barely beating estimates and upbeat AI-driven growth outlook. Read in detail>>
Marvell Technology expects FY27 interconnect revenue to more than double annually, with TIA and driver revenue exceeding a US$1B run rate soon. CEO expects fiscal 2028 revenue of ~US$16.5B and Q2 data center revenue growth accelerating to mid-to-high teens sequentially. Read in detail>>
Trump Drone Push Triggers Sector Rally
Trump administration plans financing deals with drone firms, listing key plays like AeroVironment, Inc.(AVAV.US), Kratos Defense & Security Solutions, Inc.(KTOS.US), RED CAT HOLDINGS(RCAT.US), and Unusual Machines(UMAC.US). Read in detail>>
Dell Wins US$9.7B Pentagon Deal
Dell Technologies, Inc. Class C(DELL.US) awarded 5-year, $9.7B contract to manage Microsoft Corporation(MSFT.US) software for Defense Dept, fueling 4.6% after-hours rally. Read in detail>>
Pentagon Awards Microsoft US$9.7B Deal
Pentagon consolidates Microsoft Corporation(MSFT.US) software licenses into single five-year contract to cut costs and reduce duplicative spending. Read in detail>>
Ark and Pelosi's shared bet surges
Cathie Wood's Ark Invest bought US$1.2M of Tempus Al(TEM.US) and US$6.6M of Amazon.com, Inc.(AMZN.US), another AI favorite of Nancy Pelosi. Read in detail>>
Nebius Stock Surges on Hedge Fund Stake
NEBIUS(NBIS.US) shares rose 9% premarket after Situational Awareness reported a 5.6% stake in the neocloud company. Read in detail>>
Huang Joins Tsinghua Board
NVIDIA Corporation(NVDA.US) CEO Jensen Huang accepted invitation to join Tsinghua University advisory board with Apple's Tim Cook and Elon Musk. Read in detail>>
Sidus Space US$100M Offering at US$5.08
Sidus Space(SIDU.US) priced a US$100M registered direct stock offering at US$5.08/share, net proceeds for working capital. Read in detail>>
SoundHound Buys LivePerson
SoundHound AI(SOUN.US) acquired LivePerson, Inc.(LPSN.US) for US$42.78 million in stock, converting shares via a 10-day VWAP capped at US$12. Read in detail>>
Tesla Patent Shields Two Key Revenue Drivers
Tesla Motors, Inc.(TSLA.US) won a 'lens cleaning system' patent that could protect its autonomous driving and robotaxi future revenue. Read in detail>>
Snowflake Stock Surges 35% After Blowout Quarter
Snowflake(SNOW.US) shares surged 35% premarket after beating Q1 fiscal 2027 estimates, raising its outlook, and announcing a US$6 billion AWS deal with Amazon.com, Inc.(AMZN.US). Read in detail>>
Futu Holdings Sales Miss
Futu Holdings Limited(FUTU.US) Q1 sales of US$746.938M missed estimate by 3.52%, up 23.78% YoY. Read in detail>>
XPENG Q1 Deliveries Drop 33%
XPENG INC.(XPEV.US) reported Q1 2026 deliveries of 62,682 vehicles, down 33.3% from 94,008 last year. Physical sales network covers 733 stores across 256 cities as of March 31. Read in detail>>
Li Auto Lowers Q2 Sales Forecast
LI Auto(LI.US) expects Q2 sales US$3,500B-3,700B vs US$4,170B estimate.
| Riyadh Time | Event | Previous Value | Forecast Value |
| 03:10 PM | Building Permits Final | 1.363M | 1.442M |
| 03:10 PM | Building Permits MoM Final | -11.5% | 5.8% |
| 03:30 PM | Core PCE Price Index MoM | 0.3% | 0.3% |
| 03:30 PM | Durable Goods Orders MoM | 0.8% | 3.4% |
| 03:30 PM | GDP Growth Rate QoQ 2nd Est | 0.5% | 2.0% |
| 03:30 PM | Personal Income MoM | 0.6% | 0.5% |
| 03:30 PM | Personal Spending MoM | 0.9% | 0.6% |
| 03:30 PM | Corporate Profits QoQ Prel | 5.7% | |
| 03:30 PM | Durable Goods Orders Ex Transp MoM | 0.9% | 0.5% |
| 03:30 PM | GDP Price Index QoQ 2nd Est | 3.7% | |
| 03:30 PM | Initial Jobless Claims | 209K | 215.0K |
| 03:30 PM | PCE Price Index MoM | 0.7% | 0.5% |
| 03:30 PM | PCE Price Index YoY | 3.5% | 3.8% |
| 03:30 PM | Continuing Jobless Claims | 1782K | 1796.0K |
| 03:30 PM | Core PCE Price Index YoY | 3.2% | 3.3% |
| 03:30 PM | Core PCE Prices QoQ 2nd Est | 2.7% | 4.3% |
| 03:30 PM | Durable Goods Orders ex Defense MoM | -0.3% | 2.2% |
| 03:30 PM | GDP Sales QoQ 2nd Est | 0.3% | 1.6% |
| 03:30 PM | Jobless Claims 4-week Average | 202.5K | 209.0K |
| 03:30 PM | Non Defense Goods Orders Ex Air | 3.4% | 0.5% |
| 03:30 PM | PCE Prices QoQ 2nd Est | 2.9% | 4.5% |
| 03:30 PM | Real Consumer Spending QoQ 2nd Est | 1.9% | 1.6% |
| 03:30 PM | Real Personal Spending MoM | 0.2% | 0.2% |
| 03:55 PM | Fed Williams Speech | ||
| 05:00 PM | New Home Sales | 0.682M | 0.66M |
| 05:00 PM | New Home Sales MoM | 7.4% | -3.2% |
| 05:30 PM | EIA Natural Gas Stocks Change | 101Bcf | |
| 06:30 PM | 4-Week Bill Auction | 3.610% | |
| 06:30 PM | 8-Week Bill Auction | 3.600% | |
| 07:00 PM | EIA Crude Oil Stocks Change | -7.864M | |
| 07:00 PM | EIA Gasoline Stocks Change | -1.548M | |
| 07:00 PM | 15-Year Mortgage Rate | 5.85% | |
| 07:00 PM | 30-Year Mortgage Rate | 6.51% | |
| 07:00 PM | EIA Crude Oil Imports Change | 0.003M | |
| 07:00 PM | EIA Cushing Crude Oil Stocks Change | -1.604M | |
| 07:00 PM | EIA Distillate Fuel Production Change | 0.214M | |
| 07:00 PM | EIA Distillate Stocks Change | 0.372M | |
| 07:00 PM | EIA Gasoline Production Change | -0.446M | |
| 07:00 PM | EIA Heating Oil Stocks Change | 0.021M | |
| 07:00 PM | EIA Refinery Crude Runs Change | -0.08M | |
| 08:00 PM | 7-Year Note Auction | 4.175% | |
| 11:30 PM | Fed Balance Sheet | $6.713T |