Futures contracts linked to major U.S. stock indexes fell on Tuesday amid uncertainty surrounding the possibility of a Middle East peace agreement, while shares of chipmakers continued their recent decline.
By 1:31 PM Saudi time, Dow Jones futures had fallen by 84 points, or 0.20%, while S&P 500 futures had dropped by 29 points, or 0.40%, and Nasdaq 100 futures had declined by 185 points, or 0.60%.
Here are the key moves in US stocks ahead of today's market opening:
Nvidia shares fell ahead of the start of the US trading session, as did shares of memory chip and data storage companies, including Micron Technology and Western Digital. Nvidia is scheduled to announce its highly anticipated quarterly results, which could shed light on the trajectory of the artificial intelligence boom, after the market closes on Wednesday.
Home Depot announced first-quarter results that exceeded analysts' expectations, sending shares of the craft store chain slightly higher.
Alphabet's Google and Blackstone Inc. announced the launch of a new cloud company specializing in artificial intelligence using Google's specialized chips, which helped boost the shares of both groups.
Shares of Hims & Hers Health dipped slightly after the healthcare company announced pricing for a private placement of $350 million in convertible bonds maturing in 2032. The stock had plunged 11% on Monday following Hims & Hers' announcement of a $300 million plan to support its international expansion plans.
Target Corp. announced plans to appoint a former executive at rival Walmart Stores as its head of supply chain, in an effort to reverse a sales slump attributed in part to shelf-stocking issues. Shares of the company, which is scheduled to report its quarterly earnings on Wednesday, hovered near the closing level with little change.
Shares of Hyperliquid Strategies jumped sharply following media reports indicating that the Securities and Exchange Commission (SEC) is preparing plans to allow trading in cryptocurrency versions of the stock.
Shares of XP fell after the Brazilian asset manager reported below-expected first-quarter results, largely due to rising interest rates weighing on sales of fixed-income products.
