US Stock Market Preview: Key Events and Notable Gains Ahead

US Stock Futures Rise Ahead of Market Open

As of the latest update, US stock futures are showing positive movement before the market opens. The Dow futures are up by 0.57%, Nasdaq futures have increased by 0.46%, and S&P futures are up by 0.39%.

Active Pre-Market Performance of Tech Stocks

Notable tech stocks are performing actively in pre-market trading. Amazon (AMZN) has risen over 3%, Intel (INTC) is up more than 2%, and Oracle (ORCL) has increased by over 1%.

Mixed Results for Chinese Stocks

Most popular Chinese stocks are experiencing declines in pre-market trading. Bilibili (BILI) is down nearly 3%, while XPeng (XPEV) has dropped over 1%.

Apple Announces Leadership Change

Apple (AAPL) has announced a significant leadership change, with John Ternus set to replace Tim Cook as CEO on September 1. Cook will transition to the role of Executive Chairman. Ternus, who has been with Apple since 2001, is expected to lead the company in the AI era.

Amazon's $5 Billion Investment in Anthropic

Amazon (AMZN) has announced an additional $5 billion investment in Anthropic, with potential total investments reaching $25 billion if certain milestones are met. Anthropic has committed to purchasing over $100 billion in computing resources from Amazon Web Services over the next decade.

UnitedHealth Reports Strong Q1 Earnings

UnitedHealth's pre-market shares surged by 7% after reporting Q1 revenue of $111.7 billion and adjusted EPS of $7.23, both exceeding market expectations. The company anticipates adjusted EPS for the year to exceed $18.25.

Google to Launch New AI Chips

Google (GOOGL) plans to unveil a new generation of Tensor Processing Units (TPUs) at the upcoming Google Cloud Next conference. The company aims to address the growing demand for rapid AI query processing.

Avis Continues to Rise Amid Valuation Concerns

Avis (CAR) shares are up over 9% in pre-market trading, despite warnings from Wall Street about a potential disconnect between its valuation and fundamentals. The stock has surged over 400% in the past six weeks.

AXT Shares Plummet After Stock Offering Announcement

AXT Inc (AXTI) shares fell over 12% after announcing a public offering of 8,560,311 shares at $64.25 each, raising approximately $550 million to support its subsidiary.

Cybersecurity Sector Faces AI Misjudgment

The cybersecurity sector has seen a 25% drop due to AI narratives, but Morgan Stanley suggests this is a structural misjudgment, with AI creating a $220 billion incremental security demand.

Upcoming Economic Data and Federal Reserve Hearing

The US retail sales data for March will be released tonight, which is expected to influence the Federal Reserve's policy direction. Additionally, Kevin Walsh will attend a Senate Banking Committee confirmation hearing for his nomination as Fed Chair.