01 Stock Market
As of May 28, U.S. stock index futures performed as follows: Dow Jones Industrial Average contracts slipped 0.21%, S&P 500 futures eased 0.23%, and Nasdaq 100 futures declined 0.37%, reflecting a cautious tone as traders assessed fresh geopolitical tensions and a busy slate of corporate updates before the opening bell.
Notable Stock Movers: SNOW up 38.43% at $242.61 after lifting long-term revenue guidance and signing a major Amazon Web Services deal. Within chips, MRVL added 0.95% at $200.59 on robust data-center momentum, while NVDA down 1.03% at $210.40 and MU declined 1.63% at $913.27 as investors locked in recent gains. EV bellwether TSLA fell 1.27% at $434.76 amid mixed sector sentiment.
Sector Highlights: The AI and semiconductor complex showed divergent moves; leveraged bear fund SOXS climbed 3.22% at $6.74, signaling defensive positioning, while China EV maker XPEV advanced 3.04% at $16.95 on upbeat delivery prospects. Overall, investors rotated between growth software winners and profit-taking in recent chip leaders, keeping pre-market breadth balanced.
02 Other Markets
• 10-year U.S. Treasury yield rose 0.61%, to 4.51%.
• U.S. Dollar Index rose 0.10% to 99.31.
• WTI crude oil futures rose 3.03% to 91.37 USD/barrel; COMEX gold futures fell 1.39% to 4419.30 USD/ounce.
03 Key News
1. Kohl’s trimmed its quarterly loss and maintained earnings guidance, signaling progress in its turnaround. The retailer reported an adjusted loss of 13 cents per share with comparable sales down only slightly and highlighted disciplined cost control and leaner inventories, lifting the stock 11% pre-market.
2. Snowflake raised its fiscal-year 2027 product-revenue outlook and inked a $6 billion partnership with Amazon Web Services. Deeper AI integrations and expanded go-to-market efforts underpin the upgraded forecast, propelling the cloud-data specialist sharply higher before the bell.
3. Dell Technologies secured a $9.7 billion Pentagon contract to manage Microsoft software licenses across U.S. defense agencies. The five-year deal consolidates procurement, with officials projecting annual savings of about $422 million, boosting Dell’s pre-market shares 4% higher.
4. Marvell Technology posted softer profit but robust revenue growth on strength in data-center demand. Acquisition expenses weighed on earnings, yet expanding AI infrastructure projects drove sales higher, underscoring healthy chip-sector fundamentals.
5. Li Auto reported a swing to net loss amid margin compression and guided for subdued near-term deliveries. Vehicle margin contracted to 6.1%, and management projected flat second-quarter volumes, pressuring the EV maker’s U.S.-listed shares 4% lower in pre-market trade.
6. Washington opened funding talks with domestic drone manufacturers to boost production capacity. Prospective capital support aims to lower costs and strengthen supply chains for critical unmanned systems, sending several small-cap drone stocks sharply higher ahead of the open.
7. Momentus raised $25 million via a private share placement to institutional investors. The space-transport firm said proceeds will fund R&D and strategic initiatives, extending a two-day rally that has more than doubled its market value.
8. Mastercard obtained a New York BitLicense, clearing the way for expanded digital-asset services. The state approval enables the payments network to integrate stablecoin settlements and tokenized deposits within its U.S. platform, deepening its blockchain initiatives.
9. Kraken launched a Bitcoin yield vault promising up to 2.5% annual returns to eligible users. Early uptake surpassed $30 million in deposits within hours, highlighting continued appetite for regulated crypto-income products despite recent market volatility.
10. Iran’s Revolutionary Guards claimed a missile strike on a U.S. airbase following reported overnight clashes. The force warned of stronger retaliation against future “aggression,” adding fresh geopolitical uncertainty to global risk assets in the run-up to the U.S. market open.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
