Stock market today: Dow, S&P 500, Nasdaq futures fall after Iranian supreme leader says enriched uranium must stay in country
US stock futures fell on Thursday premarket after Iran’s supreme leader issued a directive that the country’s near-weapons-grade uranium should not be sent abroad, raising doubts about the progress on peace talks between the US and Iran.
Futures attached to the Dow Jones Industrial Average (YM=F) fell 0.2%, while those on the benchmark S&P 500 (ES=F) also fell 0.2%. Contracts on the tech-heavy Nasdaq 100 (NQ=F) dropped 0.4% following a winning day on Wall Street.
Oil prices rose in the early morning hours, with Brent crude oil (BZ=F) rising back over $106, as the US and Iran were deadlocked on a peace deal. President Trump suggested that a resolution with Iran could be around the corner and said on Wednesday that he’s willing to wait “a couple days” while Iran reviews the US’s latest peace proposal.
Meanwhile, investors continued to assess Nvidia’s (NVDA) earnings that landed after the bell on Wednesday, beating expectations on the top and bottom lines. The AI giant also issued an upbeat forecast for chip sales, but investors had hoped for an even stronger signal of demand. Nvidia shares were flat in early morning trading.
Shortly after Nvidia results landed, SpaceX (SPAX.PVT) filed its S-1 registration statement with the Securities and Exchange Commission. The document offered a rare public view into the company’s financials ahead of its road show with investors planned for June.
Earnings season continues to wrap up this week, with Walmart (WMT), Ross Stores (ROST), Workday (WDAY), and Zoom Communications (ZM) set to report results Thursday.
LIVE 2 updates
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Walmart Q1 earnings meet expectations as e-commerce sales surge
Walmart (WMT) stock fell 2% in premarket trading after reporting first quarter results that were in line with Wall Street’s expectations but a second quarter outlook that came in a bit light.
Yahoo Finance’s Brooke Dipalma reports on the quarter:
In the first quarter, the big box retailer posted same-store sales growth of 4.1% in the US, above the 3.85% growth Wall Street analysts expected, according to Bloomberg consensus estimates. Higher foot traffic, ticket sizes, and 26% growth in e-commerce sales drove results.
Revenue grew 7.3% to $177.8 billion, more than the $174.8 billion the Street anticipated. Walmart reported adjusted earnings of $0.66, in line with estimates. Both metrics were above the forecast Walmart shared in the prior quarter.
The company gained share across all categories again, including grocery, health and wellness, and merchandise and income cohorts, led by high-income shoppers.
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