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Below are AI-generated insights on today’s premarket moves, powered by MarketReader technology.

Thursday, May 21

Noteworthy macro moves today: Nikkei 225 Index (Japan) +3.3%. A50 Index (China) +1.5%. Noteworthy US mega-cap moves today: Walmart Inc (WMT) -3.0%. Tesla Inc (TSLA) +1.8%. NVIDIA Corp (NVDA) -1.2%.

Global equity markets are trading mixed as investors react to a combination of economic data releases and geopolitical developments surrounding U.S.-Iran negotiations. In the U.S., initial jobless claims fell to 209,000 this morning, slightly below expectations of an increase to 210,000, indicating continued strength in the labor market despite rising continuing claims.

However, the Philadelphia Fed Manufacturing Index unexpectedly plummeted to -0.4 from a previous reading of 26.7 and against forecasts of a positive reading at 18.0, signaling contraction in manufacturing activity and raising concerns about economic performance amid ongoing inflationary pressures. This negative sentiment is reflected in lower trading for major U.S. indices today.

In Asia, the Nikkei 225 surged by over 3%, driven by optimism from strong earnings reported by Nvidia and easing crude oil prices linked to potential resolutions in Middle East tensions; meanwhile, China's A50 Index also saw gains of approximately 1.5%. These movements contrast with weaker performances observed in European markets where indices are down amid concerns over contracting manufacturing and services sectors as indicated by recent PMI data releases across the region.

iShares National Muni Bond ETF (MUB) [+0.6%]
The iShares National Muni Bond ETF is trading higher in pre-market hours, reflecting a modest increase since Wednesday's close. Market conditions are mixed, with global equity markets responding to various economic data and geopolitical developments, particularly regarding U.S.-Iran negotiations. No specific news was identified to explain the movement in MUB.

Vanguard FTSE Europe ETF (VGK) [-2.8%]
Pre-market trading for Vanguard FTSE Europe ETF is lower since Wednesday's close, driven by declines among its top holdings. SAP, HSBC, and SAN each reported negative returns, contributing to the ETF's overall performance. The ETF's price movement reflects a significant decline from the previous after-market hours, where it briefly hit a session low. Additionally, it remains below its 20-day moving average and is positioned near the lower end of its one-month range. Global equity markets are mixed, influenced by geopolitical developments and economic data releases, but these factors are not directly tied to the ETF's specific performance.

INTU | -15.9% | -14.4B
Intuit Inc | Application Software
Intuit Inc's shares are sharply lower in pre-market trading following multiple analyst downgrades in response to its recent quarterly results. KeyBanc reduced its price target to $450 from $520, Barclays to $443 from $540, and Wells Fargo to $360 from $425, all while maintaining their ratings. Analysts expressed concerns over slowing revenue growth, despite Intuit reporting a 10% year-over-year revenue increase to $8.56 billion, which fell short of expectations. Additionally, the announcement of a 17% workforce reduction, impacting approximately 3,000 employees, has raised investor unease regarding the company's operational strategy amid a competitive landscape influenced by AI technologies. The stock's decline follows a significant drop of around 14% after hours due to these developments.

GFS | +13.3% | +5.9B
Globalfoundries Inc | Semiconductors
Globalfoundries Inc has gained sharply in pre-market trading following the announcement of its new Quantum Technology Solutions unit, aimed at bolstering U.S. quantum manufacturing capabilities. The company secured a letter of intent for $375 million in funding from the U.S. Department of Commerce to support this initiative. This development underscores the strategic importance of domestic quantum manufacturing and aligns with a broader $2 billion funding initiative benefiting several firms, including IBM. Globalfoundries is actively engaging with customers as it positions itself as a leader in the emerging quantum computing market. The stock has shown notable strength, recovering significantly from an earlier low during the session.

RKLB | -6.8% | -4.2B
Rocket Lab USA Inc | Aerospace & Defense
Rocket Lab USA Inc experienced significant downward pressure following its announcement to offer up to $3 billion in common stock. The company disclosed this equity distribution agreement with multiple financial institutions, including BofA Securities and Goldman Sachs, in a regulatory filing published on May 20, 2026. Market reaction was swift, with shares declining sharply in pre-market trading, reflecting investor concerns regarding dilution associated with the substantial capital raise. This move follows a reported drop of approximately 7% shortly after the filing. Social media discussions reflect mixed sentiment, with some users viewing the capital raise as beneficial for future growth, while others express concerns about its impact on the stock due to potential dilution.

RL | +11.2% | +2.6B
Ralph Lauren Corp | Apparel, Accessories & Luxury Goods
Ralph Lauren Corp's fourth-quarter earnings report exceeded expectations, driving a notable surge in the stock during pre-market hours. The company reported earnings per share of $2.45 on revenues of $2 billion, surpassing estimates of $1.848 billion. Gross margin improved to 69.7%, and global direct-to-consumer comparable store sales rose by 17%. Additionally, Ralph Lauren announced a 10% increase in its quarterly dividend to $1.00 per share. The company provided an optimistic outlook, projecting mid-single-digit revenue growth for fiscal 2027 and the first quarter, bolstered by expected expansion in operating margins. Following the earnings release, Ralph Lauren shares are sharply higher since Wednesday's close, reflecting strong investor sentiment.

STLA | -5.6% | -1.1B
Stellantis NV | Automobile Manufacturers
Stellantis NV's stock has declined following the announcement of its €60 billion FaSTLAne 2030 strategic plan, which emphasizes a shift towards its core brands: Jeep, Ram, Peugeot, and Fiat. The plan outlines the launch of over 60 new vehicles and major refreshes by 2030, alongside a commitment to invest €24 billion in global platforms and technologies. However, it also includes substantial cost reductions targeting €6 billion annually by 2028 and a capacity reduction of over 800,000 units in Europe. Investor reactions have been negative, with concerns over the adequacy of the restructuring approach. In pre-market trading, shares fell sharply after reaching a session high earlier in the session, reflecting significant volatility as they remain near the lower end of their one-month trading range.

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