Pre-market briefing Pre-Market Briefing — May 4, 2026
Today at a Glance
Previous Day Recap
On Friday (local time May 1), US equities closed a strong first trading day of May, with the S&P 500 setting a fresh all-time high (7,230.12, +0.29%). The Nasdaq (+0.89%) was lifted by $ORCL (+6.5%), $INTC (+5.4%), and $SHOP (+5.5%) across semis and cloud names, while the Dow (-0.31%) was weighed down by weakness in $AMGN (-4.8%) and $MCD (-2.4%). Over the weekend, Berkshire Hathaway released its Q1 results (net income $10.1B, cash $397.4B) and held its first annual shareholder meeting under new CEO Greg Abel, putting today's regular-session reaction in $BRK-B to its first real test.
Current Market Tone
As of 7:00 PM Korea Time, futures markets are opening mixed. Nasdaq futures (+0.29%) are the strongest, S&P 500 futures (+0.12%) are roughly flat, and Dow futures (-0.19%) are modestly weaker. Despite the burden of record highs, risk appetite is still alive, but the two-week Strait of Hormuz blockade continues to keep additional volatility in oil prices (Brent near $109, WTI near $103) as the biggest variable. The market reacted with "no great expectations" to President Trump's "Operation Freedom" announced Sunday (a mission to escort commercial vessels under US military protection), and Friday's April jobs report (consensus 60K vs. March's 178K, a sharp deceleration expected) and Palantir ($PLTR) earnings after today's close are the second and third variables that will set the near-term direction.
Pre-Market News Roundup
Today's Events
Today's only meaningful big event comes after the close with Palantir ($PLTR). Pre-market (BMO) reporters beyond $BRK-B, whose results were already disclosed over the weekend, are limited in market-cap influence.
Macro Calendar
The US economic calendar today is empty of market-moving macro releases. Instead, the market's attention is already looking ahead to two major events.
Around 100 US warships and aircraft, plus 15,000 troops, have been deployed to escort blocked commercial vessels through the strait. With Iran's parliamentary security committee signaling refusal, calling it a "ceasefire violation" and "nonsense," a renewed push in Brent above $115 would immediately pressure airlines, consumer staples, and rate-sensitive names. Moody's Analytics warned that a sustained Brent at $125 would signal recession.
Consensus is calling for 60K new nonfarm payrolls, a sharp deceleration from March's 178K. If the slowdown lands in line with consensus, expectations for a June cut could revive; conversely, a print above 120K could trigger a delay in rate-cut timing → a renewed rise in long-end yields → pressure on Big Tech multiples.
Ex-Dividend
Names to Watch
$PLTR — RSI is in short-term overbought territory, and with options IV pricing in ±10% ahead of earnings, the conference call's commentary on AI Platform (AIP) ARR and new commercial contract volume, rather than the headline numbers, will set the gap direction the next day.
$BRK-B — Despite the operating earnings miss, fundamentals are solid with insurance underwriting income +29% and a record cash pile. If the regular-session reaction is contained within -1%, it can be read as a near-term dip-buy signal.
$ORCL — Friday's +6.5% surge pushed RSI into short-term overbought territory. AI cloud order momentum continues, but the stock should be prepared for profit-taking supply.
Today's Action Guide
Stay calm again today, and make it a day to watch the tone of the conference call through to the end, rather than just the headline results.
Back to ListDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
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