US Stock Market Preview: Fed Minutes, Gold and Silver Stocks Rise, Berkshire Hathaway Report Impact.

US Stock Futures Rise Ahead of Market Open

On Wednesday morning, US stock futures showed positive movement across the board. As of now, the Dow futures are up 0.17%, Nasdaq futures are up 0.46%, and S&P 500 futures are up 0.33%.

Tech Stocks Performance

Prominent tech stocks are experiencing gains before the market opens:

• NVIDIA (NVDA) and Amazon (AMZN) are both up nearly 2%.
• Micron Technology (MU) and ASML (ASML) have increased by over 1%.
• Tesla (TSLA) and Microsoft (MSFT) are up close to 1%.
• Advanced Micro Devices (AMD) is down nearly 2%.

Chinese Stocks on the Rise

Most Chinese stocks are also seeing upward movement:

• Pinduoduo (PDD) is up nearly 2%.
• Alibaba (BABA) and Baidu (BIDU) have risen over 1%.
• NIO (NIO) is up close to 1%.
• Kingsoft Cloud (KC) is down nearly 1%.

Gold and Silver Stocks Surge

Gold and silver stocks are experiencing significant gains:

• New Pacific Metals (NEWP) is up nearly 4%.
• Hycroft Mining (HYMC), First Majestic Silver (AG), and Coeur Mining (CDE) are all up over 2%.
• Endeavour Silver (EXK) and Centerra Gold (CGAU) are up nearly 2%.

Storage and Space Stocks

Storage stocks are mostly rising:

• Western Digital (WDC) is up over 2%.
• Rambus (RMBS) is up over 1%.
• Micron Technology (MU) and Seagate Technology (STX) are up close to 1%.
• SanDisk (SNDK) is down over 2%.

Space-related stocks are also on the rise:

• Redwire (RDW) is up nearly 3%.
• Destiny Tech100 (DXYZ) is up over 2%.
• Rocket Lab (RKLB), AST SpaceMobile (ASTS), Intuitive Machines (LUNR), and Planet Labs PBC (PL) are all up over 1%.

Upcoming Google I/O Developer Conference

The Google I/O developer conference is scheduled for May 19-20, as announced by CEO Sundar Pichai. The event will take place at the company's headquarters in Mountain View, California, and will be live-streamed. Google is expected to announce updates on its Gemini model and other AI products, along with the potential launch of smart glasses.

NVIDIA and Meta Partnership

NVIDIA and Meta have announced a long-term strategic partnership, with Meta set to deploy millions of NVIDIA chips. This collaboration will cover local deployment, cloud, and AI infrastructure.

SanDisk Stock Drop

SanDisk (SNDK) is down over 3% as its parent company, Western Digital (WDC), has applied to issue over $3 billion in new shares to raise funds.

Palo Alto Networks Earnings Report

Palo Alto Networks (PANW) is down nearly 7% after its Q1 outlook fell short of expectations, despite reporting a non-GAAP EPS of $1.03, exceeding market consensus.

Quantum's Strong Q3 Performance

Quantum (QMCO) shares are up over 13% after reporting a Q3 loss of $0.36 per share, which was better than analysts' expectations.

Berkshire Hathaway's New Investments

Berkshire Hathaway has disclosed a new investment of $350 million in The New York Times (NYT), surprising many as Warren Buffett had previously sold all newspaper assets six years ago.

Notable Stock Movements

• Analog Devices (ADI) is up nearly 8% after reporting a 30% year-over-year revenue increase.
• Berkshire Hathaway has reduced its holdings in Apple (AAPL) for the third consecutive quarter while increasing its stake in The New York Times.

Conclusion

The market is showing a positive trend with significant movements in tech, Chinese stocks, and commodities. Investors are keenly watching the developments from the upcoming Google I/O conference and the strategic partnerships forming in the tech sector.