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Stock market today: Dow, S&P 500, Nasdaq futures edge up as Wall Street braces for US-Iran update


US stock futures made slight gains as Wall Street eyed Dell’s earnings report and awaited an official update on US negotiations with Iran.

Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F) and the tech-heavy Nasdaq 100 (NQ=F) all rose 0.1%.

After the bell, Dell’s (DELL) results blew past investors’ expectations, lifting its stock close to 40%. The company issued an upbeat outlook, indicating the rapid expansion of data centers amid the AI boom would continue to drive demand for its servers, which run on Nvidia (NVDA) chips.

In day trading, stocks rose, with the S&P 500 (^GSPC) and Nasdaq (^IXIC) touching record highs, as confidence in the AI trade and hopes of easing global tensions boosted sentiment.

Since Trump signaled last week that the US is in the “final stages” of talks with Iran, markets have largely been upbeat. The trend continued this week, with the S&P 500 and Nasdaq hitting record highs three days in a row.

An official update on the negotiations, however, remains elusive, even as reports circulate of a deal for a ceasefire extension reaching Trump’s desk. Markets are eager for relief on the US-Iran war front as the closure of the Strait of Hormuz exacerbates rapidly rising prices and drums up concerns about the Federal Reserve’s next moves on interest rates.

LIVE 2 updates

  • Oil on track for largest single-month drop this decade so far as US-Iran truce extends

    Bloomberg reports:

    Oil fell as the US and Iran tentatively agreed to extend a ceasefire by 60 days, with Brent set for the biggest monthly drop since 2020 on optimism that flows through the Strait of Hormuz may resume.

    Brent (BZ=F) dropped below $93 a barrel, down 18% this month, while West Texas Intermediate (CL=F) was near $88. President Donald Trump has yet to agree to the terms of the agreement, according to a person familiar with the matter, after Axios reported that shipping through the strait would be “unrestricted.”

    Still, Vice President JD Vance told reporters that it was too early to know “when or if” a deal with Iran would be reached. Earlier, Treasury Secretary Scott Bessent said only that “the teams have been going back and forth” when pressed if an interim agreement had been clinched.

    Crude has weakened in May on speculation some form of accord would be reached, although the warring parties have hailed progress before, only for the stalemate to drag on. During the conflict, the effective closure of Hormuz — which is subject to blockades by Washington and Tehran — has triggered a global energy shock, with millions of barrels of daily oil supply shut off.

    Read more here.

  • Dell shares surge after-hours as AI hardware sales blasts past analyst expectations

    Bloomberg reports:

    Dell Technologies Inc. (DELL) shares gained about 40% in extended trading after the hardware maker gave an outlook for annual sales that far surpassed analysts’ estimates, fueled by demand for servers that power artificial intelligence work.

    Revenue in the fiscal year ending in January 2027 will be about $167 billion, including $60 billion from the sale of AI servers, the Texas-based company said Thursday in a statement. That’s up from a prior revenue outlook of about $140 billion and topped analysts’ average estimate of $142.1 billion, according to data compiled by Bloomberg.

    Dell’s servers designed to run AI workloads are attracting customers from companies that rent computing power like CoreWeave Inc. and Nscale Global Holdings Ltd., as well as corporate clients and major AI providers. The company booked $24.4 billion in AI orders and generated $16.1 billion in AI server sales in the quarter ended May 1, Chief Operating Officer Jeff Clarke said in the statement. “The AI opportunity shows no signs of slowing.”

    The shares rose to a high of $420 in late trading after closing at $317.05. Dell’s server business has been viewed as an AI winner this year, sparking the stock more than 150% higher through Thursday’s close.

    Read more here.



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Tags :Dow Jones Industrial AverageEarnings reportIranNASDAQNegotiationsUS stock futures
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