U.S. equity futures eased on Thursday as market participants monitored reports that Iran had hardened its position on peace negotiations with the United States and sifted through quarterly results from leading companies in the technology and consumer sectors.
By 06:46 ET (10:46 GMT), futures were trading lower: the Dow contract had slid roughly 156 points, or about 0.3%, S&P 500 futures were down about 31 points, or 0.4%, and Nasdaq 100 futures had fallen near 161 points, or 0.6%. Ahead of the opening bell, the contracts had been trading on both sides of the flatline.
Here are notable premarket stock movements and corporate developments shaping the session:
- Nvidia: Shares moved around the flatline following April-quarter results that showed a sharp rise in revenue and profit. Analysts noted a modest shortfall in revenue from the company’s data-center computing operations, which was counterbalanced by stronger-than-expected performance in its data-center networking business.
- Intuit: The software company plunged more than 14% after trimming its full-year revenue forecast for TurboTax and announcing plans to cut about 17% of its full-time workforce.
- Walmart and Kroger: Walmart shares fell after the retailer kept its full-year financial target unchanged despite reporting quarterly results that beat estimates. Peer Kroger also declined.
- Deere & Company: Shares moved lower after reversing earlier gains. The farm-equipment maker posted second-quarter profit that exceeded expectations but left its full-year profit forecast unchanged.
- Mobileye Global: The company’s stock fell following an analyst downgrade to a "hold" rating from Berenberg.
- Quantum and semiconductor-related firms: Stocks such as GlobalFoundries, D-Wave Quantum and Rigetti Computing rose after a media report said the Trump administration would award $2 billion in grants to nine companies in the quantum computing sector.
- Eli Lilly: Shares gained after data were released on its next-generation weight-loss drug.
- Advance Auto Parts and Elf Beauty: Advance Auto Parts climbed after reporting quarterly earnings that topped estimates, while Elf Beauty rose on sales and profit that exceeded forecasts.
- Destiny Tech100: The stock jumped after SpaceX filed for a large initial public offering slated for later this year. Destiny Tech100 is seen as a proxy for retail investors seeking exposure to high-profile private companies such as SpaceX, Anthropic and OpenAI.
The premarket session reflected a mix of company-specific news and broader geopolitical developments, with traders balancing earnings-driven micro headlines against the potential market impact of diplomatic developments. Volatility in individual names was apparent, with winners including several quantum-focused and consumer discretionary stocks, and pronounced declines in certain software, retail and industrial names.
Market snapshot: Futures hovered around both sides of unchanged prior to the opening bell, with the Dow, S&P 500 and Nasdaq 100 futures all showing modest downward pressure as investors weighed earnings and geopolitical reports.