Most Important News

1. Inflation Fears: Rising Oil And Yields Persist;
2. Rocket Lab: Plans $3 Billion Stock Sale;
3. NIO Beat: Q1 Sales Beat Estimates By 4.25%;

Stock futures fell on Thursday, weighed by a spike in crude prices and Treasury yields, while traders weighed whether NVIDIA Corporation(NVDA.US)'s earnings report met the high bar set for the artificial intelligence titan.

As of 03:25 PM Riyadh Time, futures tied to the S&P 500 index(SPX.US) declined 0.37%, while NASDAQ(IXIC.US) 100 futures lost 0.54%. Dow Jones Industrial Average(DJI.US) futures dropped 154 points, or 0.31%.

Crude prices jumped after Reuters reported, citing sources, that Iran's supreme leader issued a directive to keep enriched uranium within the country — further complicating the outlook to a resolution to the US-Iran war. West Texas Intermediate futures were up 2.9% at $101.04 per barrel. Brent crude popped 2.3% $107.36.

The oil spike was followed with a move higher in Treasury yields, as traders grow fearful or rising inflation. The benchmark 10-year Treasury note yield climbed 5 basis points to 4.615%. The 30-year bond yield advanced 3 basis points to 3.665%.

As of 03:25 PM Riyadh Time, top pre-market movements are as follows:

Nvidia Surges On Blowout Quarter, Payout Hike

• NVIDIA Corporation(NVDA.US) posted Q1 revenue of $81.6 billion, up 85% year-on-year and above $78.8 billion forecasts, with EPS of $1.87 beating $1.76 estimates. The company authorized $80 billion in buybacks, raised quarterly dividend to $0.25, and guided Q2 revenue above Wall Street expectations. Read in detail>>
• NVIDIA Corporation(NVDA.US) CEO Jensen Huang projects Vera AI-focused CPUs unlock a $200 billion new TAM, with $20 billion already sold in 2026, millions of Rubin-Vera systems expected, and rising AI inference demand driving broader data-center CPU market toward $80 billion by 2028. Read in detail>>
• NVIDIA Corporation(NVDA.US) Jensen Huang said its partnership with Uber Technologies,Inc.(UBER.US) aims to deploy robotaxis in 30 cities across four continents by 2028, as Nvidia’s automotive revenue rose 39% to $2.3 billion and Q1 revenue surged 85% to $81.6 billion. Read in detail>>
• NVIDIA Corporation(NVDA.US) warns investors not to expect resumed advanced AI chip sales to China as US export curbs effectively cede the market to Huawei, even while Nvidia posts 85% year-on-year revenue growth, launches an $80 billion buyback, and raises dividends. Read in detail>>

Treasury Yields Near 5% Reshape Regime

Long-term US Treasury yields near 5% signal possible structural shift toward higher neutral rates, driven by massive fiscal deficits and supply, splitting strategists between temporary shock and lasting “sustainable regime,” while 2026 playbooks favor barbell portfolios balancing AI-led growth, short-duration income, and gold/bitcoin hedges. Read in detail>>

Fed Minutes Signal Possible Rate Hike

Federal Reserve minutes show policymakers shifting from expected cuts toward potential rate hikes as Middle East conflict keeps Hormuz closed, lifting oil, inflation expectations and CME FedWatch odds of a 2026 hike to 63%, challenging prior easing assumptions and tightening macro conditions. Read in detail>>

Markets Price In High Cuba Strike Risk

Polymarket on Polygon now assigns 49% odds of a US drone, missile, or air strike on Cuba by year-end, up sharply from 5% a week ago, with $4.34 million wagered amid USS Nimitz deployment and escalating regional tensions. Read in detail>>

Meta Layoffs Intensify AI Job Displacement Fears

Meta Platforms(META.US) is cutting about 8,000 jobs, roughly 10% of its workforce, while boosting 2026 capex to $115–135 billion for AI and data centers, prompting Senator Bernie Sanders’ warnings over AI-driven US job losses and worker testimonies. Read in detail>>

US Curbs Reshape China AI Chip Demand

US export controls shift Chinese AI chip demand from NVIDIA Corporation(NVDA.US) toward Huawei, with even approved H200 sales to Alibaba Group Holding Ltd. Sponsored ADR(BABA.US) and TENCENT HOLDINGS LIMITED(TCEHY.US) reportedly stalled by Beijing, underscoring rising techno-geopolitical risk for global semiconductor and cloud investment exposure. Read in detail>>

SpaceX Reveals $1.3 Billion Bitcoin Hoard

SpaceX disclosed holding 18,712 Bitcoin (CRYPTO: BTC), costed at $661 million and now worth about $1.45 billion, ahead of its planned Nasdaq IPO under ticker SPCX, targeting a $75 billion raise at a $1.75 trillion valuation. Read in detail>>

Fed Chair Change Looms Over Stocks

Kevin Warsh becomes Fed chair May 22. Historical data shows US stocks often trend lower in early months after a new chairman takes office. Read in detail>>

Cathie Wood Sells AMD Again, Buys Cerebras & Bullish

Ark Invest sold $11.9M Advanced Micro Devices, Inc.(AMD.US) shares, while buying Cerebras Systems(CBRS.US) and Peter Thiel-backed Bullish(BLSH.US).

Rocket Lab Plans $3 Billion Stock Sale

Rocket Lab(RKLB.US) shares fell 6.7% after hours on plans to sell up to $3 billion of common stock for growth and acquisitions.

IBM, GlobalFoundries Win Major Chip Funding

IBM Corp(IBM.US) secures a $1 billion award to build a quantum chip manufacturing plant, while GlobalFoundries Inc.(GFS.US) receives $375 million, signaling substantial government-backed investment in advanced semiconductor capacity and strengthening both companies’ strategic positions in next-generation chip technologies. Read in detail>>

SpaceX Files For Record-Breaking Nasdaq IPO

SpaceX filed for a Nasdaq IPO under ticker SPCX, targeting $75 billion in proceeds at a $1.75 trillion valuation. 2025 revenue reached $18.7 billion with a $4.9 billion loss, driven by Starlink’s $11.4 billion sales and major US government contracts. Read in detail>>

Tesla Shares Little Changed On SpaceX Filing

Tesla Motors, Inc.(TSLA.US) slipped 0.42% to $415.50 in after-hours trading following SpaceX’s IPO filing. The stock is up about 3.2% over one month but down roughly 9% year-to-date, lagging the S&P 500’s 4.6% monthly and 8.1% YTD gains. Read in detail>>

NIO Crushes Q1 Sales Estimates

NIO(NIO.US) reported Q1 sales of $3.701B, beating estimates by 4.25% and up 123.22% from $1.658B last year.

Liminatus Pharma Soars On InnocsAI Merger

Liminatus Pharma(LIMN.US) surged over 79% in after-hours trading after announcing a definitive merger with InnocsAI LLC, issuing 1.6 billion shares at $0.20 plus CVRs, adding oncology assets, despite a 97% 12‑month decline and ongoing negative price momentum. Read in detail>>

Samsung Shares Jump After Strike Suspension

SAMSUNG ELECTRONICS CO(SSNLF.US) shares surged 6.3% in Seoul after unions canceled a planned 18‑day strike following a tentative wage and bonus deal, easing supply concerns for the world’s largest memory-chip maker, whose stock has risen 128% year-to-date, surpassing $1 trillion valuation. Read in detail>>

Walmart Earnings, Revenue Forecasts Under Scrutiny

Walmart Inc.(WMT.US) is expected to report quarterly EPS of $0.66 on $174.74 billion revenue before market open, with shares up 0.3% to $131.29 in late trading as investors gauge consumer demand, pricing power, and margin resilience. Read in detail>>

Williams-Sonoma Earnings, Sales Estimates In Focus

Williams-Sonoma, Inc.(WSM.US) is expected to post quarterly EPS of $1.81 on $1.79 billion revenue before market open; shares rose 0.4% to $181.00 in after-hours trading as investors watch discretionary spending and home-related demand. Read in detail>>

Deere Results Eyed Amid Earnings Expectations

Deere & Company(DE.US) is projected to announce quarterly EPS of $5.70 on $11.53 billion revenue before the open; shares gained 0.4% to $560.46 Wednesday, as markets assess agricultural equipment demand and capital spending trends. Read in detail>>

Intuit Beats, Guides Higher, Plans Job Cuts

Intuit Inc.(INTU.US) delivered strong fiscal Q3 results, guided Q4 revenue growth of 11–12% and adjusted EPS of $3.56–3.62 versus $3.20 consensus, yet announced a 17% workforce reduction; shares dropped 13.4% to $332.38 after-hours. Read in detail>>