01 Stock Market
As of May 22, U.S. stock index futures performed as follows: Dow-linked contracts firmed about 0.37%, S&P 500 futures advanced roughly 0.21%, and Nasdaq 100 futures added nearly 0.22%, pointing to a cautiously positive opening. Traders assessed a busy slate of corporate headlines and awaited fresh economic guidance, while the modest uptick in futures suggested a measured appetite for risk following the prior session’s mixed cash-market finish.
Notable Stock Movers: Semiconductor momentum continued with AMD up 2.32% at $460.00 and leveraged chip ETF SOXL up 1.70% at $181.42. AI bellwether NVDA up 0.42% at $220.44 attracted dip-buyers after recent consolidation. Electric-vehicle leader TSLA up 0.19% at $418.66 edged higher ahead of its annual shareholder meeting. Chinese consumer names lagged, with PDD fell 5.82% at $92.10 and BABA fell 3.99% at $126.22.
02 Other Markets
• 10-year U.S. Treasury yield fell 0.74%, to 4.55%.
• U.S. Dollar Index rose 0.16% to 99.35.
• WTI crude oil futures rose 1.22% to 97.53 USD/barrel; COMEX gold futures fell 0.44% to 4,522.40 USD/ounce.
03 Key News
1. Workday reported stronger-than-expected first-quarter revenue and profit, driven by rising demand for its AI-enhanced finance and HR software. Management highlighted robust subscription growth and reiterated confidence in full-year targets, helping reassure investors about the company’s competitive position despite broader concerns over generative-AI disruption.
2. Estee Lauder and Spain’s Puig terminated merger discussions, removing integration risk and lifting investor sentiment. Analysts said the cosmetics group can now focus on its turnaround plan without the debt load and complexity a large cross-border deal would have introduced.
3. Zoom raised its annual revenue and earnings forecasts as adoption of new artificial-intelligence features accelerates. The video-conferencing provider said enterprise demand for productivity tools remains resilient, supporting higher guidance for both top-line growth and margins.
4. Take-Two Interactive reaffirmed a November launch for “Grand Theft Auto VI” and delivered quarterly bookings above expectations. Management acknowledged a softer near-term outlook but stressed the upcoming title’s blockbuster potential, projecting fiscal 2027 bookings of up to $8.2 billion.
5. Ross Stores lifted its full-year sales and profit outlook after first-quarter results topped Wall Street estimates. Executives cited steady consumer appetite for discounted apparel and home goods, underscoring the chain’s resilience amid uneven retail spending patterns.
6. Peloton Interactive will join the S&P SmallCap 600 index, prompting index-tracking funds to add the stock. Inclusion is expected to bolster liquidity and could attract additional passive inflows, supporting the connected-fitness company’s ongoing turnaround efforts.
7. IMAX initiated a strategic review and has approached entertainment companies regarding a potential sale. Sources told the Wall Street Journal that early discussions are under way, reflecting industry consolidation trends as premium format operators seek capital and content partnerships.
8. The U.S. Commerce Department issued letters of intent for more than $2 billion in CHIPS Act incentives to nine quantum-technology firms, including IBM. Funds will help establish Anderon, a dedicated quantum chip foundry in New York, and accelerate domestic production of advanced processors critical for next-generation computing.
9. President Trump is set to swear in Kevin Warsh as the new Federal Reserve chair, underscoring potential policy shifts toward lower rates. Market participants are watching Warsh’s inaugural tenure closely amid elevated inflation and debate over future interest-rate paths.
10. SpaceX postponed the 12th launch attempt of its Starship V3 rocket from Texas and plans a retry within 24 hours. The delay, attributed to final-stage technical checks, keeps investors focused on the company’s ambitious timetable for reusable heavy-lift missions and its broader commercial space aspirations.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.
