Oil prices are taking a breather this morning
Futures on the Dow Jones Industrial Average (DJIA) and Nasdaq-100 Index (NDX) are enjoying a triple-digit lead this morning after yet another wave of strong earnings reports. The S&P 500 Index (SPX) is also looking to open firmly after the ADP report showed that private payrolls rose by 109,000 last month, much better than the 84,000 jump analysts expected.
Oil prices fell amid reports that the U.S. and Iran are close to reaching a deal to end the war. President Donald Trump renewed threats against the country, however, noting that bombing would resume at a "much higher level and intensity than it was before” if Iran doesn't agree to a peace deal.
5 Things You Need to Know Today
- The Cboe Options Exchange saw more than 2.7 million call contracts and 1.5 million put contracts exchanged on Tuesday. The single-session equity put/call ratio jumped to 0.57, while the 21-day moving average stayed at 0.59.
- Advanced Micro Devices Inc (NASDAQ:AMD) stock is 18.7% higher ahead of the open, after the chip concern beat first-quarter earnings and revenue estimates and issued stronger-than-expected guidance for the current quarter. In response, AMD saw upgrades from Bernstein and Seaport Research Partners to "outperform" and "buy," respectively. At least 20 analysts also hiked their price targets. The stock is already up 65.9% in 2026.
- Walt Disney Co (NYSE:DIS) stock is 4.5% higher before the bell, after the company announced a fiscal second-quarter revenue beat amid strong streaming and theme park performance. This also marked the first quarterly report under new CEO Josh D'Amaro. If today's gains hold, DIS will cut back on its 11.6% year-to-date deficit.
- Shares of Uber Technologies Inc (NYSE:UBER) are 8.3% higher ahead of the open, brushing off first-quarter revenue that came in slightly below expectations thanks to an upbeat current-quarter outlook. The rideshare stock is down more than 10% so far this year.
- What will fill the remainder of the week.
European, Asian Stocks in Rally Mode
Asian markets rallied Wednesday, as easing Middle East tensions and upbeat Wall Street momentum boosted sentiment across the region. South Korea’s Kospi jumped 6.5% to another record high, extending its massive 2026 rally as Samsung Electronics surged to fresh highs and crossed the $1 trillion market-cap level. China’s Shanghai Composite climbed 1.2% after returning from its holiday break, while Hong Kong’s Hang Seng also added 1.2%. Japan’s Nikkei remained closed for Golden Week. President Donald Trump paused “Project Freedom” in the Strait of Hormuz amid signs of progress toward a deal with Iran.
European markets are bouncing back Wednesday as well following Tuesday’s choppy session, with optimism improving after Trump signaled progress in U.S.-Iran negotiations. At last glance, Germany’s DAX is up 2.3%, and France’s CAC 40 has added 3.1%, while London’s FTSE 100 paces the region with a 2.5% gain.