Most Important News

1. China Chip Exports Double To $31B Record;
2. Yield Spike: 30-year Treasury Climbs Above 5.19%;
3. Oil Volatility: Brent and WTI Rise 2%;

Stock futures ticked higher early Friday as Wall Street looked set to cap off a winning week despite heightened volatility.

As of 03:28 PM Riyadh Time, futures tied to the Dow Jones Industrial Average(DJI.US) rose by 276 points, or 0.55%. S&P 500 index(SPX.US) futures gained 0.31% and NASDAQ(IXIC.US) 100 futures inched 0.30% higher.

Volatility picked up this week as investors wrestled with a sharp rise in long-term Treasury yields. The 30-year Treasury yield climbed above 5.19% earlier this week, reaching its highest level since before the financial crisis, before easing to 5.09% on Thursday.

Oil prices have also been choppy as traders gauge the prospects of a US-Iran war resolution. On Friday, both Brent and WTI were up around 2%.

As of 03:28 PM Riyadh Time, top pre-market movements are as follows:

Futures Rise Amid Iran Tensions, Earnings

US equity futures and ETFs ETF-S&P 500(SPY.US) and PowerShares QQQ Trust,Series 1(QQQ.US) advance as markets largely price a 97.2% chance of unchanged June Fed rates, while Iran–US talks, higher oil, and elevated Treasury yields sustain macro uncertainty. Read in detail>>

SpaceX's Starship Flight 12 Scrubbed

SpaceX scrubbed its 12th Starship test flight Thursday due to last-minute holds. Next attempt is soon.

China Chip Exports Surge On AI Demand

China’s chip exports doubled year-on-year in April to a record $31 billion, helping lift total exports 14% to $359 billion, as US curbs on NVIDIA Corporation(NVDA.US) and reliance on ASML Holding NV ADR(ASML.US) accelerate domestic semiconductor expansion by SMIC, Hua Hong, and Huawei-linked foundries. Read in detail>>

Ark Rotates Into Bullish, Trims TSMC Stake

Ark Invest bought 139,117 Bullish(BLSH.US) shares across ARK (ARK Fintech Innovation ETF(ARKF.US), ARK Innovation ETF(ARKK.US), ARK Next Generation Internet ETF(ARKW.US)) for about $5 million after strong Q1 crypto-trading results, while selling 2,131 Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR(TSM.US) shares worth $0.87 million as Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR(TSM.US) hit a 52-week high. Read in detail>>

Crypto Market Stalls As Equities Hit Records

Bitcoin and Ethereum traded slightly lower amid $100 million in balanced liquidations, while global crypto market cap rose 0.89% to $2.59 trillion and US equities hit record highs on optimism over an Iran ceasefire and easing macro headwinds. Read in detail>>

Analyst Sees Mideast Ceasefire Boosting Crypto

Crypto analyst Michael van de Poppe argues a Middle East ceasefire would lower oil prices and US Treasury yields, pressure gold and silver, and create a powerful macro tailwind for altcoins, supporting renewed strength across the broader cryptocurrency market. Read in detail>>

Tech Giants Fund UCLA AI Chip Center

Broadcom Limited(AVGO.US), Applied Materials, Inc.(AMAT.US), GlobalFoundries Inc.(GFS.US), Meta Platforms(META.US) and Synopsys, Inc.(SNPS.US) commit $125 million over five years with UCLA to establish an AI-focused semiconductor center, targeting advanced chip design, packaging, cloud infrastructure and US workforce development. Read in detail>>

US Backs IBM Quantum Chip Manufacturing

IBM Corp(IBM.US) secures $1 billion US CHIPS Act funding, matched by $1 billion private capital, to form Anderon and build America’s first quantum chip fab, while GlobalFoundries Inc.(GFS.US), D-Wave Quantum(QBTS.US) and Rigetti Computing, Inc.(RGTI.US) receive additional ecosystem support despite IBM’s underperforming shares. Read in detail>>

Arm Holdings Surges 38% After Nvidia's Record Quarter

Arm Holdings PLC ADRhedged(ARMH.US) shares jumped 38% in three sessions, topping Micron Technology, Inc.(MU.US) in 2026 YTD returns on AI infrastructure demand.

Jim Cramer Urges Nvidia Dividend Buyback Combo

Jim Cramer says NVIDIA Corporation(NVDA.US) should follow Apple Inc.(AAPL.US) with a dividend and buyback combo. Nvidia raised its quarterly dividend to $0.25 from $0.01. Read in detail>>

WhiteFiber Wins $160 Million AI Deal

WhiteFiber(WYFI.US) shares jumped premarket after securing a five‑year, $160+ million AI computing infrastructure contract near Paris using NVIDIA Corporation(NVDA.US) GPUs, funded by customer prepayments and project financing, reinforcing its European cloud expansion and strong bullish technical, analyst outlook. Read in detail>>

Rocket Lab Wins $90 Million GEO Deal

Rocket Lab(RKLB.US) secures a $90 million US Space Force contract to build two geostationary satellites hosted on the Heimdall Space Center platform, marking its first GEO satellite production program and strengthening its government defense and space infrastructure revenue pipeline. Read in detail>>

Congresswoman Sells Near-Record Qualcomm Stake

QUALCOMM Incorporated(QCOM.US) traded at $213.41, near record highs, as Congresswoman Sara Jacobs, granddaughter of founder Irwin Jacobs, disclosed two sales totaling $1–2 million from a long-held 1999 investment fund, her first reported stock trades since 2021. Read in detail>>

Liminatus Pharma Faces Nasdaq Delisting Risk

Liminatus Pharma(LIMN.US) risks delisting from Nasdaq after missing the May 18 deadline to regain compliance with two market value support programs requiring $50 million and $15 million thresholds, signaling sustained market-cap weakness and heightened delisting, liquidity, and funding risks. Read in detail>>

IMAX Jumps On Potential Sale Talks

IMAX Corporation(IMAX.US) is exploring a potential sale, engaging entertainment companies while discussions remain preliminary, sending shares up 12.16% after-hours to $38. Strong 2025 results, record global box office share, and expanding event-focused content slate enhance its strategic appeal. Read in detail>>

Trump's $2B Quantum Bet

• Trump will award $~2B for quantum under the CHIPS Act; D-Wave Quantum(QBTS.US) jumped 33% after signing a non-binding letter of intent for $100 million CHIPS Act financing to advance quantum technologies, lifting after-hours gains to 7.8% and reinforcing speculative momentum in high-volatility quantum computing equities. Read in detail>>
• Insider Sale Amid CHIPS Funding Rally: D-Wave Quantum(QBTS.US) VP Sophie Ames disclosed selling 23,025 shares for about $437,000 under a 10b5-1 plan, while D-Wave confirmed a $100 million proposed CHIPS Act funding, lifting quantum-computing peers Rigetti Computing, Inc.(RGTI.US) and Infleqtion, Inc.(INFQ.US). Read in detail>>

Estée Lauder Ends Puig Merger Talks

Estee Lauder Companies Inc. Class A(EL.US) terminated merger discussions with Puig, reaffirming its standalone “Reimagine Beauty” and “One ELC” transformation strategy while continuing portfolio reviews for acquisitions and divestitures. Investor relief over strategic clarity drove Estée Lauder shares up about 11.6% to $88.04 after-hours. Read in detail>>

Walmart Falls Despite Revenue Beat, Cautious Outlook

Walmart Inc.(WMT.US) slid 7.3% as Q1 revenue rose 7.3% to $177.8 billion, beating forecasts, while adjusted EPS of $0.66 met estimates; reaffirmed 2027 guidance below Wall Street and warnings on cost-driven retail inflation pressured sentiment despite 26% US e-commerce growth. Read in detail>>