New York—May 6, 2026, 04:16 ET
Nasdaq 100 futures climbed 0.69% as of 3:40 a.m. ET—quotes on a 10-minute delay—pacing gains among U.S. stock futures after AMD’s outlook kept AI in focus. S&P 500 futures picked up 0.28%, with Dow futures edging higher by 0.16%. Oil prices slipped, traders watching for any signs of a U.S.-Iran agreement. These futures moves come ahead of the opening bell, suggesting where the indexes could kick off the session.
The S&P 500 and Nasdaq clocked new highs, leaving little room for earnings misses or shocks from abroad. Tuesday’s session saw the S&P 500 up 0.81%, the Nasdaq rising 1.03%. The Dow finished higher too, adding 0.73%. Over in chips, the Philadelphia semiconductor index soared 4.2% to notch its own record close. “Markets are following fundamentals,” said Tom Hainlin, investment strategist at U.S. Bank Wealth Management, speaking to Reuters. Reuters
AMD’s first-quarter results landed after the close, with revenue up 38% to $10.3 billion. Data center was the clear standout—jumping 57% to $5.8 billion. Looking ahead, AMD pegs next quarter’s revenue at roughly $11.2 billion, plus or minus $300 million. CEO Lisa Su put it plainly: “Data Center now the primary driver” for both revenue and profit growth. Advanced Micro Devices, Inc.
AMD isn’t the only one under strain. While it keeps battling Nvidia for AI chip dominance, Intel is pushing harder too, rolling out plans to boost its market share by leaning on its growing factory footprint. Daniel Newman, CEO of Futurum Group, flagged that Nvidia’s rapid-fire AI chip rollouts might push AMD to accelerate its own production schedule ahead of plan.
Super Micro Computer surged in after-hours action after the AI-server company projected fourth-quarter revenue between $11 billion and $12.5 billion, plus adjusted EPS of 65 to 79 cents—numbers that beat analyst forecasts. Shares jumped 18% on the update, Reuters reported.
Stocks in Asia and Europe climbed, pushed higher by gains in tech and commodities. The Stoxx Europe 600 jumped 1.1%. Over in London, S&P 500 futures were up 0.3%, while Nasdaq 100 futures gained 0.7%. “The road ahead is bumpy, but the direction of travel seems clear,” said Geoff Yu, senior macro strategist at BNY, pointing to how de-escalation hopes are already making their way into prices. SWI swissinfo.ch
Oil took a step back, easing some pressure on stocks, but crude’s still firmly in the driver’s seat for risk. Brent settled off 1.5% at $108.18 a barrel, while U.S. West Texas Intermediate slipped 1.6% to $100.60. President Donald Trump’s move to pull the plug on the Strait of Hormuz escort mission nudged prices lower, even as Iranian port blockades linger. “Prices are holding high. With no clear peace path and slow-moving trade flows, the market’s on edge,” said Anh Pham, senior research specialist for oil at LSEG. Reuters
Rates remain a key focus. With the U.S. jobs report landing this week, investors are watching for any signs that robust numbers might prod the Federal Reserve toward a change in stance, as Reuters flagged. Jonathan Cohn, who heads U.S. rates desk strategy at Nomura, puts it plainly: if the data holds up, the Fed has little reason to rush into rate cuts.
The day starts early with the ADP Employment Report dropping at 8:15 a.m. ET, giving a read on private-sector hiring. Treasury rolls out its refunding update at 8:30 a.m. ET. Not long after, at 9:30 a.m. ET, St. Louis Fed President Alberto Musalem is scheduled to deliver remarks.
Premarket action puts chipmakers and AI infrastructure stocks in the lead. But risks linger. A strong labor report could easily nudge rate expectations up. And if Iran talks break down, oil might start grabbing all the attention.
