Trump says Iran war "close to over" amid hopes for more negotiations
Investing.com - U.S. stock futures were largely muted on Wednesday, as investors eyed optimism for renewed negotiations between the U.S. and Iran as well as a string of fresh corporate results.
By 07:16 ET (11:16 GMT), the Dow futures contract had inched down by 26 points, or 0.1%, while S&P 500 futures and Nasdaq 100 futures were mostly unchanged.
Here are some of the biggest premarket U.S. stock movers today:
- Bank of America has posted a rise in first-quarter profit, becoming the latest U.S. lending giant to benefit from a rush of trading activity. Shares of the firm inched up.
- Peer Morgan Stanley reported better-than-anticipated first-quarter net revenue of $20.58 billion, thanks to strong equities sales and trading revenue as well, sending shares higher premarket.
- Short-form video group Snap announced plans to dismiss 1,000 employees, including 16% of its full-time workers, and close over 300 open roles. CEO Evan Spiegel said the changes will help to reduce the social media firm’s cost base by more than $500 million on an annualized basis by the second half of this year. Shares of Snap soared by 10% following the news.
- Broadcom rose marginally after the chipmaker announced an expanded partnership with Meta Platforms that will provide the Instagram-owner with more customer artificial intelligence processors.
- U.S.-listed shares of ASML dipped. The Dutch chip equipment provider, whose customers include semiconductor titans like TSMC and Intel, lifted its annual sales outlook, underlining the boost it has received from the artificial intelligence boom. But analysts at Evercore ISI warned that a lower June-quarter outlook could lead to near-term downward pressure on the stock.
- Quantum computing stocks gained following AI giant Nvidia’s unveiling of a new suite of open-source models aimed at accelerating progress in quantum computing.
- Solar stocks, including First Solar, advanced on a Reuters report that China has held talks with provider of gear to build solar panels as it mulls limiting advanced technology exports from the U.S.
- TeraWulf slumped following preliminary first-quarter revenue from the Bitcoin miner that missed Wall Street expectations.
- Webull and Robinhood both jumped after the Securities and Exchange Commission gave the green light to sweeping changes to a restriction on day-trading by small investors.