Preview of US Stock Market | Nasdaq futures rose more than 1%, Trump says US-Iran face-to-face talks premature

1. On May 6th (Wednesday) before the U.S. stock market, the futures of the three major U.S. stock indexes all rose, with the Dow Jones futures up 0.83%, the S&P 500 index futures up 0.70%, and the Nasdaq 100 index futures up 1.06%. 2. As of the report, the German DAX index rose by 2.14%, the UK FTSE 100 index rose by 2.25%, the French CAC 40 index rose by 2.96%, and the European Stoxx 50 index rose by 2.44%. 3. As of the report, WTI crude oil fell by 6.18%, to $95.95 per barrel. Brent crude oil fell by 5.90%, to $103.39 per barrel. Market News Trump says it is premature for U.S.-Iran face-to-face talks. President Trump said on Wednesday morning that while there have been optimistic reports of the U.S. being close to a potential framework agreement to end the 67-day war between the two sides, it is still too early to consider peace talks between the U.S. and Iran "premature." Just minutes ago, Trump posted on social media that if Iran agrees to abide by the previously agreed content, the "epic wrath" operation would be declared over, and the Strait of Hormuz would be open to all countries, including Iran. However, if Iran does not agree, bombings will resume. Trump had previously stated that out of respect for the efforts made by Pakistani Defense Minister Muneer to engage Washington and Tehran, he was willing to go to Pakistan to sign a formal agreement. U.S. April "Mini Non-Farm" growth higher than expected. The national employment report released by Automatic Data Processing, Inc. (ADP) on Wednesday showed that private employment in the U.S. increased more than market expectations in April. Private employment increased by 109,000 people in April, surpassing market expectations, while the March increase was revised downward to 61,000 people. The U.S. labor market remains in a state of "low recruitment and low layoffs." Data released by the U.S. government on Tuesday showed a decline in job vacancies in March, but recruiting rebounded to a two-year high. According to economists surveyed, non-farm employment in April is expected to increase by 62,000 people, following a rebound of 178,000 people in March. Private employment is expected to increase by 75,000 in April, down from the previous month's surge of 186,000. The unemployment rate is expected to remain unchanged at 4.3%. U.S.-Iran peace talks dawned suddenly: the dollar wiped out the war premium, oil prices plummeted, and global stock markets and gold soared. On Wednesday, global financial markets experienced severe volatility due to a major shift in Middle East tensions. Reports indicated that the U.S. and Iran are close to reaching an agreement to end the conflict, which instantly sparked risk appetite, causing the dollar to fall and oil prices to plummet, while global stock markets soared. Although the Middle East situation dominated the short-term market, investors' attention also began to turn to U.S. non-farm employment data to be released later this week. This data will test the resilience of the U.S. economy and judge whether it is strong enough to support the Federal Reserve's current tight monetary policy unchanged, or whether weakness in the labor market will rekindle market expectations of a rate cut. Wall Street may face a major change in 55 years! SEC plans to cancel mandatory quarterly reports for listed companies, Trump's "semi-annual report" concept advances. The highest regulatory authority on Wall Street proposed on Tuesday to allow U.S. listed companies to switch from quarterly financial reports to semi-annual reports. This move continues an idea that U.S. President Trump has been personally pushing for throughout his two terms in office. The SEC's proposal will put an end to a rule that has been in effect for 55 years, requiring U.S. public companies to share detailed financial performance data four times a year, within 45 days after the end of each fiscal quarter. This will be a major change in U.S. corporate governance, and it is likely to face opposition from some investors. The SEC chairman said: "The inflexibility of SEC rules has hindered companies and their investors from deciding on the most appropriate frequency for their mid-term reports." Stock News New CEO takes office and achieves a "good start" in the first quarter: box office revenue and park consumption surged, boosting Walt Disney Company's (DIS.US) profits beyond expectations. Walt Disney Company's second quarter adjusted earnings per share rose to $1.57, higher than the average analyst expectation of $1.51. Revenue was $24.9 billion, up 7% year-on-year, also exceeding Wall Street's expectations. This better-than-expected performance was mainly attributed to the improved profitability of streaming media businesses, the boost from new films "Avatar" and "Zootopia 2," and increased consumer spending in the company's resorts and on cruises. Looking ahead, Walt Disney Company expects operating profit of around $5.3 billion for fiscal 2026, with earnings per share expected to increase by around 12% to around $6.64 (higher than the market's general expectation of $6.63). The company plans to repurchase at least $8 billion worth of stock in fiscal 2026. Uber Technologies, Inc. (UBER.US) sees a 57% increase in Q1 operating income, accelerating the growth narrative of "robotaxi." Uber Technologies, Inc. achieved a 14% year-on-year increase in total revenue to $13.2 billion in the first quarter, and operating income under GAAP increased by a significant 57% year-on-year to $1.9 billion; GAAP net profit was $263 million, with diluted EPS (earnings per share) of $0.13, including a $1.5 billion negative impact from revaluation of equity investments. Adjusted EPS under non-GAAP measures was $0.72, higher than the average analyst expectation of around $0.69. For the three-month period ending in June, Uber Technologies, Inc. expects total bookings to be between $56.25 billion and $57.75 billion, exceeding the average analyst expectation of around $56.23 billion. Raising $115 billion in a single quarter! Apollo Global Management Inc (APO.US) asset management scale exceeds one trillion milestones, Q1 fee income rises 30% and hits a record high. The alternative asset management company based in New York saw adjusted net profit increase by 8% in the first quarter to $1.21 billion, or $1.94 per share, outperforming the average analyst expectation of $1.88 per share. Fees related to asset management and financing arrangements saw a significant 30% increase to $728 million, also surpassing expectations and setting a new record high. Rowan stated, "Our first-quarter performance sets a strong tone for the year." Looking ahead, after achieving the $1 trillion target, the company has set a new target for asset management scale to reach $1.5 trillion by 2029. Power chip riding on AI momentum, Infineon Technologies (IFNNY.US) Q3 revenue guidance exceeds expectations, with high growth expected for the full year. Infineon announced on Tuesday that it incurred an operating loss of $242 million from January to March, a sharp reversal from last year's profit of $154 million during the same period, with Wall Street expectations for a loss of around $39 million. This loss almost swallowed half of the company's full-year earnings in 2025. Net loss attributable to shareholders expanded to $266 million, marking the worst quarterly profit performance since the fourth quarter of 2021. Quarterly revenue increased by 8% year-on-year to $8.5 billion, but the growth rate significantly slowed down from the double-digit growth it had maintained for a long time. Occidental Petroleum Corporation (OXY.US) reports mixed performance in Q1, lowers full-year production forecast amid Middle East conflict. Occidental Petroleum Corporation's first quarter revenue was $5.23 billion, falling short of the average analyst expectation of $5.67 billion. Net profit attributable to common stockholders was $3.2 billion, a significant increase from $766 million in the same period last year, driven mainly by the gains related to the sale of the OxyChem business; adjusted earnings per share were $1.06, far exceeding the average analyst expectation of $0.59. The first-quarter results reflected the benefits of rising oil prices, with the average realized oil price rising to $69.91 per barrel. The company stated that daily production reached 1.426 million barrels of oil equivalent, surpassing the high end of its guidance. AMD (AMD.US) sees AI demand as a growth engine, beating Q1 performance and Q2 guidance expectations. AMD's first-quarter revenue increased by 38% year-on-year to $10.3 billion, outperforming the average analyst expectation of $9.89 billion. Under Non-GAAP accounting standards, operating profit was $2.54 billion, a 43% year-on-year increase; net profit was $2.265 billion, a 45% year-on-year increase. Adjusted earnings per share were $1.37, beating the average analyst expectation of $1.28. AMD expects second-quarter revenue to be $11.2 billion, exceeding the average analyst expectation of $10.5 billion. This optimistic outlook indicates that the company is winning orders from its biggest spending customers in the artificial intelligence computing field. Super Micro Computer, Inc. (SMCI.US) releases a "deciphered" financial report: Q3 profit margin significantly improves, Q4 performance guidance exceeds expectations. Super Micro Computer, Inc. achieved revenue of $10.24 billion in the third quarter, up 123% year-on-year from $4.6 billion in the same period last year. However, this figure was below the market's general expectations of $12.3-12.4 billion. Adjusted earnings per share (EPS) were $0.84, well above analyst expectations of $0.62-0.63. The highlight of this quarter was the improvement in gross margin-adjusted gross margin reached 10.1%, far above the previous quarter's level and significantly exceeding analyst estimates of 6.75%. Super Micro Computer, Inc. provided Q4 revenue guidance significantly above Wall Street expectations. The company expects revenue to range between $11 billion and $12.5 billion, with adjusted earnings per share of $0.65 to $0.79. In comparison, analysts had previously projected revenue of $11.07 billion, and earnings per share of only $0.55 to $0.57. Arista Networks (ANET.US) Q1 revenue exceeds expectations, while gross margin slightly below expectations. The company reported first-quarter revenue of $2.709 billion, an 8.9% increase from the previous quarter and a significant 35.1% year-on-year increase, surpassing the market's average expectation of $2.62 billion. GAAP diluted earnings per share was $0.80, while non-GAAP earnings were $0.87, above market expectations and higher than $0.64 and $0.661 in the same period last year. The company's adjusted operating margin was 47.8%, higher than the expected 46.4%, while its adjusted gross margin of 62.4% was slightly below the market's general expectation of 62.7%. Financial outlook for the second quarter of 2026, the company expects revenue of around $2.8 billion; non-GAAP operating profit margin between 46% and 47%; and non-GAAP diluted earnings per share of around $0.88. Significant Economic Data and Events Preview 9:30 p.m. Beijing time: 2028 FOMC voting member and St. Louis Fed President Musalem speaks on economic outlook and monetary policy. 10:30 p.m. Beijing time: U.S. EIA crude oil inventory changes for the week ending May 1. 1:00 a.m. the next day Beijing time: 2027 FOMC voting member and Chicago Fed President Guersby participates in a group discussion at a meeting. Earnings Preview Thursday morning: ARM (ARM.US), Applovin (APP.US), Albemarle Corporation (ALB.US) Before the market on Thursday: Shell (SHEL.US), McDonald's Corporation (MCD.US), Zai Lab (ZLAB.US)