Preview of US Stock Market | The three major stock index futures rose together, and Iran's delineation of two Hormuz shipping lanes caused oil prices to plummet.

1. Pre-market on May 7 (Thursday), the three major US stock index futures rose together, with Dow Jones futures up 0.20%, S&P 500 index futures up 0.12%, and Nasdaq 100 index futures up 0.05%. 2. As of the time of publication, the German DAX index fell 0.33%, the UK FTSE 100 index fell 0.62%, the French CAC 40 index fell 0.06%, and the European Stoxx 50 index fell 0.07%. 3. As of the time of publication, WTI crude oil fell 4.34%, to $90.95 per barrel. Brent crude oil fell 3.99%, to $97.23 per barrel. Market News Iran designates two shipping lanes in the Hormuz Strait, causing oil prices to plunge. The Iranian Islamic Revolutionary Guard Navy announced the designation of two shipping lanes in the Hormuz Strait, while reports from the Middle East indicated that the US and Iran had reached a consensus on easing the maritime blockade and gradually reopening the Strait. This news quickly led to a sharp drop in international oil prices. According to Iranian media on the 7th, the Iranian Revolutionary Guard Navy has designated two lanes for ships to pass through, and ships are not allowed to cross the Hormuz Strait without Iranian permission. Earlier reports from Xinhua News Agency quoted Middle Eastern media saying that Iran and the US had reached a consensus on easing the US maritime blockade in exchange for gradually reopening the Hormuz Strait. However, this news has not been confirmed by the US and Iran. Following the announcement of the news, international oil prices continued to plummet, with Brent crude oil falling by 3.0% to $97.98 per barrel. US oil prices dropped to nearly $90. The Japanese government's "intervention hand" intervenes in the foreign exchange market again! The Ministry of Finance is suspected of adding $30 billion to support the yen. According to the latest analysis report on the accounts of the Bank of Japan by Wall Street analysts, the Japanese Ministry of Finance may have used approximately $30 billion in foreign exchange intervention actions shortly after the previous round of about $25 billion at the end of April, indicating a strong determination to support the yen exchange rate. According to a comparison of the Bank of Japan's account and currency broker forecast summary released on Thursday, the Japanese government's market entry size could be around 4.68 trillion yen. Thursday was the first working day after the end of the Golden Week holiday in Japan, with the government seemingly upgrading the "defense battle for the yen" from a one-time foreign exchange market intervention to continuous, selective, and coherent management of the exchange rate. White House Digital Assets Advisor: Aims to finalize the "Digital Assets Market Clarity Act" by July 4th. Patrick Witt, the Executive Director of the White House Digital Assets Advisory Council, revealed at the Consensus conference in Miami on Wednesday that the White House is pushing for Congress to pass the "Digital Assets Market Clarity Act" before July 4th. Witt said, "We are aiming for July 4th. I think this will be a great birthday present for America's 250th anniversary." He further explained that the specific progress path involves: the Senate Banking Committee reviewing the draft this month, completing full votes in the four Senate working weeks in June, and leaving enough time for the House to vote before the Independence Day deadline. Stock News McDonald's Corporation (MCD.US) Q1 performance is mixed: revenue, profit exceeds expectations, but US same-store sales growth falls short. McDonald's Corporation released its first-quarter financial report on Thursday, showing a "strong profit but slightly weak growth" trend. Despite achieving revenue and profit above expectations in a challenging consumer environment, same-store sales growth in the US domestic market did not meet Wall Street's expectations. The financial report showed that McDonald's Corporation had an adjusted earnings per share of $2.83 for the first quarter, higher than the market's expected $2.74; revenue increased by 9% year-over-year to $6.52 billion, exceeding the expected $6.47 billion. Net profit rose from $1.87 billion in the same period last year to $1.98 billion. However, in the most critical US market, same-store sales growth was only 3.9%, lower than the analyst's consensus of 4.2%. This slight difference reflected that despite the company's efforts to push low-price meals and limited-time offers, consumers squeezed by rising fuel and grocery costs have become more cautious in their spending. Shell (SHEL.US) Q1 profit exceeds expectations: oil and gas surge heats up trading business. Driven by the surge in oil and gas prices due to the Iran conflict and market volatility, Shell's trading business performance in the first quarter was strong, pushing profits beyond market expectations. The adjusted net profit for the first quarter of 2026 was $6.92 billion, significantly higher than the $5.58 billion in the same period last year, and also exceeded the analyst's consensus of $6.36 billion. Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) rose from $15.3 billion in the same period last year to $17.7 billion. As of the time of publication, the stock price fell by 1.95% in the US night market. The company stated that the significant profit growth was mainly due to downstream and renewable energy sector trading and optimization contributions, higher realized prices for oil and gas, improved refining profit margins, and reduced operating costs. Since the outbreak of the Iran conflict at the end of February, the Brent crude oil price has surged by more than 50%, intensifying market volatility and bringing significant benefits to European energy giants with large trading platforms. Albemarle Corporation (ALB.US) follows lithium price surge, Q1 profit exceeds expectations. In the first quarter of 2026, the world's largest lithium producer, Albemarle Corporation, announced a significantly better-than-expected report card, indicating that the lithium industry is officially emerging from its low point. The financial report showed that the chemical giant's net profit in the first quarter reached $319.1 million, or $2.34 per share, compared to $49.3 million or breakeven per share in the same period last year. Excluding one-time items, adjusted earnings per share reached $2.95, significantly higher than the analyst's average expectation of $1.09. Revenue also showed strong performance, with net sales in the first quarter increasing by 33% year-on-year to $1.43 billion, slightly higher than the analyst's average expectation. Adjusted EBITDA surged to $663.8 million, surpassing the expected $468.2 million, more than doubled from the same period last year, with a year-on-year growth rate of about 148%. Applovin (APP.US) Q1 net profit surges by 109% year-on-year, Q2 performance guidance exceeds expectations. Mobile software company Applovin's first-quarter financial performance in 2026 showed revenue growth of 59% year-on-year to $1.842 billion, exceeding the analyst's average expectation of $1.78 billion; adjusted EBITDA was $1.557 billion, a 66% increase year-on-year; net profit was $1.206 billion, a 109% increase year-on-year; earnings per share were $3.56, exceeding the analyst's average expectation of $3.46. Looking ahead to the second quarter, AppLovin expects revenue to be between $1.915 billion and $1.945 billion, higher than the analyst's average expectation of $1.89 billion; the adjusted EBITDA profit margin is expected to be between 84% and 85%. DoorDash (DASH.US) Q1 new member registration reaches record high, Q2 performance guidance exceeds expectations, highlighting strong demand. The first-quarter financial report of the American food delivery platform DoorDash showed revenue growth of 33% year-on-year to $4.04 billion, below the analyst's average expectation of $4.15 billion, with the lower platform transaction rate cited as the reason; earnings per share were $0.42, better than the analyst's average expectation of $0.36. DoorDash achieved a record high in new member registrations in the first quarter. The company stated that the DashPass membership scale in the US region was accelerating as a result of new user registrations and a decrease in customer churn rate. In international markets, the DashPass, Wolt+, and Deliveroo Plus membership sizes also saw growth. DoorDash expects the total market order value in the second quarter to be between $32.4 billion and $33.4 billion, higher than the analyst's average expectation of $32.3 billion, demonstrating strong demand from consumers in both the US and international markets for its services. Sony (SONY.US) plans to spend nearly $4 billion to acquire music copyrights of Bieber, Neil Young, and others. Sony Music (SONY.US) is in negotiations with Blackstone Inc. for a deal to acquire the music catalog of artists including Justin Bieber and Neil Young. If the deal is reached, it will be one of the largest copyright acquisitions in music history. Sources said that Sony has entered into exclusive negotiations and plans to acquire Recognition Music Group, a subsidiary of Blackstone. The company owns or manages the copyrights of over 45,000 songs. Sony will establish a joint venture with the Singapore sovereign wealth fund GIC to complete the acquisition, with the transaction price expected to be between $3.5 billion and $4 billion. Important Economic Data and Events Preview 8:30 PM Beijing time: Initial jobless claims in the US Earnings Preview Early Friday: Microchip Technology Incorporated (MCHP.US), CoreWeave (CRWV.US), Applied Optoelectronics (AAOI.US).