Pre-market briefing Pre-Market Briefing — May 5, 2026
Today at a Glance
Yesterday's Recap
Yesterday (local time, May 4) US equities closed lower as renewed Middle East tensions and concerns over an oil-price spike triggered profit-taking. The Dow posted the steepest decline, plunging 1.13%, while the S&P 500 fell 0.41% and the Nasdaq lost 0.19%. The volatility index VIX jumped 7.53%, signaling stronger short-term hedging demand. Palantir ($PLTR), reporting after the close, delivered a strong after-hours performance, with revenue surging 85% year-over-year and full-year guidance lifted to 71% growth.
Current Market Sentiment
Futures are leaning toward a rebound attempt just before the open. S&P 500 futures are up 0.34%, Nasdaq futures 0.57%, and Dow futures 0.27%, partially recouping the prior session's losses. A US-Iran ceasefire atmosphere around the Strait of Hormuz holding for now has calmed the oil rally, helping risk appetite recover. However, with AMD earnings looming after today's close, big tech and semiconductor names are likely to remain in a wait-and-see mode throughout the session.
Pre-Market News Roundup
Today's Events
Today marks a pivotal earnings day for AI semiconductors and cloud. HSBC has already released its Q1 numbers before the open, and after the regular close, heavyweight names across telecom equipment and industrials — led by AMD — are queued up.
Macro Calendar
There are no scheduled monetary-policy decisions or major US economic data releases today. At last week's FOMC (local time, April 29), the Fed held the policy rate at 3.50–3.75% following an 8–4 split vote, and Chair Powell officially confirmed he will step down on May 15. With no near-term monetary-policy catalyst on the calendar, the market is likely to react even more sensitively to earnings and geopolitical headlines.
Ex-Dividend
Stocks in Focus
Based on technical signals as of yesterday's close, today's watchlist is as follows.
Today's Game Plan
Stay steady today — focus on the flow rather than the headline.
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