Wall Street Set for Muted Open on Inflation Data, Mideast Tensions
Wall Street Set for Muted Open as Investors Assess Inflation Data and Mideast Tensions
Wall Street's main indexes were set to open flat on Thursday as escalating tensions between the U.S. and Iran dampened hopes of an imminent peace deal, while investors digested key inflation data.
Inflation Data and Geopolitical Developments
U.S. inflation increased at its fastest pace in three years in April, driven by higher energy prices amid the Iran war. Oil prices jumped over 2%, while the continued closure of the Strait of Hormuz added to inflation worries.
AI Optimism and Earnings Growth
Renewed confidence in AI and earnings growth momentum have underscored the recent rally. The S&P 500 was on track for a ninth consecutive weekly gain. Marvell Technology, Snowflake, Dollar Tree, and Best Buy posted strong results, boosting market sentiment.
Impacted Symbols
Symbols affected by this headline and their sentiment signals
AeroVironment, Inc.
AeroVironment added 9.3% on drone funding news.
Snowflake Inc.
Snowflake lifted its annual product revenue forecast and announced a $6 billion AI deal with AWS; shares soared 37%.
Dollar Tree, Inc.
Dollar Tree lifted its full-year profit forecast and shares gained 17%.
Nasdaq 100 futures reflect overall market sentiment but the direct impact of the news is limited.
S&P 500
S&P 500 is affected by inflation data and geopolitical risks but balanced by AI and earnings growth support.
Marvell Technology, Inc.
Marvell Technology shares rose 4.6% after first-quarter results and have more than doubled year-to-date.
Amazon.com, Inc.
Amazon Web Services signed a $6 billion AI deal with Snowflake, a positive development for Amazon.
Datadog, Inc.
Datadog rose 3.8% following Snowflake's positive news, benefiting from AI sector optimism.
MongoDB, Inc.
MongoDB rose 9.4% following Snowflake's positive news, benefiting from AI sector optimism.
Best Buy Co., Inc.
Best Buy forecast second-quarter sales above estimates and shares added 20%.
Kohl's Corporation
Kohl's gained 16.8% after posting quarterly sales in line with estimates and sticking to annual targets.
Unusual Machines, Inc.
Unusual Machines jumped 28.1% after reports of Trump administration funding talks for drone firms.
Kratos Defense & Security Solutions, Inc.
Kratos Defense rose 13.3% on drone funding news.
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