US Stock Market Preview: Iran's Uranium Claims, Futures Down, Oil Up, Quantum Stocks Rise.

US Stock Futures Decline Ahead of Market Open

As of the latest update, US stock futures are all down, with the Dow futures falling by 0.34%, Nasdaq futures down 0.54%, and S&P 500 futures decreasing by 0.37%. This comes after reports that Iran's Supreme Leader has ordered that weapons-grade uranium must remain within Iran.

Pre-Market Movements in Tech Stocks

Most major tech stocks are experiencing declines in pre-market trading. Intel is down over 3%, AMD has dropped more than 2%, while Nvidia and Microsoft see slight decreases. Conversely, Tesla and Micron Technology are up nearly 1%.

Chinese Stocks Show Mixed Results

Among popular Chinese stocks, NetEase and Alibaba are down nearly 4%, Bilibili has dropped over 3%, and Pinduoduo is down more than 1%. TSMC is fluctuating around a 1% change, while NIO is up nearly 5% and XPeng is up over 2%.

Semiconductor Sector Divergence

In the semiconductor sector, Arm Holdings is up over 3%, and Cerebras Systems has gained more than 1%. However, Intel is down nearly 3%, and Qualcomm has dropped over 1%.

Quantum Computing Sector Gains

The quantum computing sector is showing strength, with INFQ up 22%, QBTS rising over 15%, and RGTI increasing more than 14%. IBM and IONQ are also up nearly 6%. Reports indicate that the US will provide $2 billion in funding to quantum computing companies.

Notable Earnings and Announcements

• Eli Lilly (LLY): The company reported that its next-generation obesity drug, retatrutide, led to an average weight loss of 28% in a key trial.

• NIO (NIO): The company announced a profit of 66.8 million yuan for Q1 2026, marking its second consecutive profitable quarter.

• NEBIUS (NBIS): The company is up nearly 8% after signing a power supply agreement with Bloom Energy.

• Walmart (WMT): The retailer's Q1 revenue exceeded expectations but warned of high fuel costs, leading to a drop of over 2% in pre-market trading.

Market Reactions to Geopolitical Developments

Iran's Supreme Leader has ordered that near-weapons-grade uranium must remain in the country, complicating negotiations with the US. This directive may frustrate US efforts to negotiate peace in the region.

Economic Outlook for the Eurozone

The European Commission has indicated that the Eurozone's economic growth will slow significantly due to rising energy costs from the Iran conflict, with growth expected at 0.9% this year, down from 1.4% last year.

Upcoming Economic Data

Key economic data to watch includes the US May S&P Global Manufacturing PMI and Services PMI, as well as the EIA natural gas inventory report.

In summary, the US stock market is facing a challenging start with declines in major indices and mixed results across sectors, influenced by geopolitical tensions and economic forecasts.