|
| |
Market Wrap: pre-opening session |
|
|
| |
|
|
|
| |
U.S. market futures turn down after Reuters reported Iran’s supreme leader has ordered that the country’s near-weapons-grade uranium remain inside the country.
On Wednesday, major U.S. stock indexes rebounded more than 1% amid falling oil prices, as press reports pointed to progress in negotiations toward a peace agreement in Iran.
The S&P 500 rose 79 points (+1.08%) to 7,432, and the Nasdaq 100 was up 478 points (+1.66%) to 29,297.
The Dow Jones climbed 645 points (+1.31%) to 50,009.
On the economic plan in the U.S. according to the Federal Reserve’s latest policy-meeting minutes, a majority of central bank officials anticipated that rate hikes would be necessary in the case of elevated inflation, which is caused by rising energy prices linked to the Iran war.
On the stat front in the U.S. the S&P Global manufacturing purchasing managers index is expected at 53.0 in May in first reading vs 54.5 a month earlier. The same index regarding services sector is estimated at 51.1 vs 51 in April. Separately, housing starts are expected to be down 3.5% month-on-month in April and building permits are anticipated to grow 0.5% for the same period. In addition, the Philadelphia Fed manufacturing index is anticipated AT 19.0 in May VS 26.7 a month earlier. Finally, weekly initial jobless claims are estimated at 210,000.
European indices pare earlier gains to trade red. On the stat plan, eurozone's S&P Global composite purchasing managers index fell to 47.5 in May in first estimate (49.5 expected) from 48.8 a month earlier. Meanwhile U.K's S&P Global manufacturing purchasing managers index declined to 48.5 (51.9 anticipated) from 52.6 in April.
Asian indexes bounced, tracking Wall Street's gains. On the stat side, in Japan the S&P Global composite purchasing managers index fell to 51.1 in May in first reading (51.8 expected) from 52.2 in April. Separately, Japan's exports rose 14.8% year-on-year in April, above 9.3% expected, while machinery orders dropped 9.4% month-on-month in March, compared with -3.3% estimated. In Australia, employment fell 18,600 in April, compared with +10,000 expected, while jobless rate climbed to 4.5%, above 4.3% estimated.
WTI crude oil prices rebound following Reuters report.
Gold and silver both lose ground after having slightly rebounding yesterday.
Bitcoin slightly eases around 77,000 dollars.
|
| |
|
|
|
|
|
|
|
|
| |
Nvidia (NVDA), a chip giant, is broadly steady despite posting quarterly financial figures that beat estimates. Investors’ expectations regarding the release were very high however. Revenue in the company’s data center division doubled from a year earlier to 75.2 billion dollars, accounting for 92% of the company’s total revenue. Nvidia also announced 80.0 billion dollars additional share repurchase authorization and increased its quarterly cash dividend from 0.01 dollar per share to 0.25 dollar per share. Separately, in a filing, the company said: "some of our customers are developing their own ASICs and other products, including designs optimized for certain workloads that may not require all of the features and functionality our data center systems provide".
Advanced Micro Devices (AMD), another chip giant, "announced more than 10 billion dollars in investments across the Taiwan ecosystem to expand strategic partnerships and scale advanced packaging manufacturing for next-generation AI infrastructure."
Walmart (WMT), a retailer, loses some ground after reporting quarterly adjusted EPS in-line with expectations and maintaining full-year forecast.
IBM (IBM), a global technology and consulting firm focused on cloud and AI, jumps as The Wall Street Journal reported the company will receive 1 billion dollars from the U.S. to boost quantum computing. Another 1 billion dollars of awards will be split between eight other quantum-computing companies such as D-Wave Quantum (QBTS) or Rigetti Computing (RGTI).
Intuit (INTU), a developer and marketer of accounting software for small and medium sized businesses, tumbles as quarterly sales missed expectations. Also, the company announced plans to cut 17% of its workforce.
E.l.f. Beauty (ELF), a beauty company, jumps as quarterly financial figures topped estimates.
Bloom Energy (BE), a provider of solid oxide fuel cell systems, gains ground after announcing an agreement with Nebius (NBIS), an AI cloud company, to deploy Bloom’s fuel cell technology to help power Nebius’s AI infrastructure build-out.
|
| |
|
|
|
|
|
|
|
|
| |
|
No major earnings expected
|
| |
|
|
|
|
|
|
|
|
| |
Earning Release:
CAE Inc (CAE)
On Wednesday, the S&P/TSX Composite Index jumped 1.25% to 34,162, while the S&P/TSX 60 Index surged 1.26% to 1,996.
Torex Gold Resources (TXG), a mining company, announced "the appointment of Dan Rollins as the Company's CFO. Mr. Rollins, who currently serves as the Company's Senior Vice President, Corporate Development & Investor Relations, will replace Andrew Snowden following the Company's Annual and Special Shareholder Meeting on June 17, 2026, at which time Mr. Snowden will assume the role of President and CEO."
|
| |
|
|
|
|
|
