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

Friday, May 29

Noteworthy macro moves today: Nikkei 225 Index (Japan) +2.9%. Noteworthy US mega-cap moves today: Broadcom Inc (AVGO) +1.8%. Microsoft Corp (MSFT) +1.4%. Amazon.com Inc (AMZN) -1.2%.

Global equity markets are trading higher following reports of a potential U.S.-Iran ceasefire agreement, which has eased geopolitical tensions and contributed to positive sentiment across various regions. The Nikkei 225 Index in Japan surged by 2.9%, reflecting strong investor confidence amid hopes for an end to the Middle East conflict.

In the U.S., major indices are also up, albeit at a more modest pace with an average return of 0.13%. Notable movements include Broadcom Inc rising by 1.8% and Microsoft Corp increasing by 1.4%, while Amazon.com Inc saw a decline of 1.2%, indicating mixed performance among mega-cap stocks.

Economic data released today showed that France's household consumption fell by more than expected, declining by 0.5% month-on-month in April, which may raise concerns about consumer spending trends in the Eurozone amidst ongoing inflationary pressures linked to energy costs from geopolitical conflicts.

iShares 7-10 Year Treasury Bond ETF (IEF) [+0.9%]
Investor sentiment has improved following reports of progress toward a U.S.-Iran ceasefire deal, contributing to gains across various sectors. In pre-market trading, iShares 7-10 Year Treasury Bond ETF is advancing since Thursday's close, reflecting this broader positive market backdrop. Earlier in the session, the ETF pulled back from a session high but remains above its 20-day moving average and near the upper end of its one-month trading range. No specific news relating to the ETF's price move was identified.

United States Gasoline Fund LP (UGA) [-2.2%]
The United States Gasoline Fund LP is experiencing a notable decline during pre-market hours. This drop aligns with a decrease in Brent crude oil prices, which fell by 0.93%. The gasoline fund's performance is further underscored by its position approximately 10.23% below its 20-day moving average and near the lower end of its one-month range. Earlier in the session, the fund's return dipped as low as -2.84%, reflecting significant weakness in the context of broader market movements.

DELL | +33.1% | +99.5B
Dell Technologies Inc | Technology Hardware, Storage & Peripherals
Dell Technologies Inc experienced a significant stock surge following its first-quarter financial results, which exceeded analyst expectations. The company reported adjusted earnings per share of $4.86, surpassing estimates of $2.94, and revenue of $43.84 billion, well above the forecasted $35.42 billion. This strong performance was driven by a remarkable 757% increase in AI server revenue, totaling $16.1 billion, alongside robust demand across all business segments. Dell also raised its full-year revenue guidance to between $165 billion and $169 billion, reflecting strong order bookings of $24.4 billion for AI servers. Analysts have responded positively, with multiple upgrades and price target increases, further fueling investor enthusiasm. Despite pulling back earlier in the session, shares are trading higher since Thursday's close, reflecting the market's positive response to these developments.

NTAP | +18.2% | +6.3B
NetApp Inc | Technology Hardware, Storage & Peripherals
NetApp Inc reported strong fourth-quarter and fiscal year 2026 results, with record net revenues of $1.95 billion for the quarter, a 12% year-over-year increase, and $6.93 billion for the fiscal year, up 5%. The company achieved a non-GAAP EPS of $2.43, surpassing expectations of $2.27. Significant growth was noted in all-flash array revenues, which reached $1.2 billion, an 18% increase year-over-year, and public cloud revenues increased by 11% to $182 million. NetApp returned $1.36 billion to shareholders through buybacks and dividends in fiscal year 2026. For Q1 FY2027, the company projected revenues between $1.75 billion and $1.90 billion, driven by strong demand for AI-driven solutions and cloud services. Following the earnings announcement, NetApp shares are trading higher during pre-market hours, despite a slight pullback from earlier gains.

ASTS | -14.0% | -4.1B
AST SpaceMobile Inc | Alternative Carriers
Shares of AST SpaceMobile declined significantly in pre-market trading following news of a Blue Origin rocket explosion during testing, raising concerns about the company's satellite rollout plans. This incident marks the second major setback for Blue Origin in less than two months, with its New Glenn rocket previously losing AST's BlueBird 7 satellite. Although AST SpaceMobile is not solely reliant on Blue Origin for launches, investor anxiety has heightened regarding its ambitious deployment targets, particularly as CEO Abel Avellan emphasized the need for successful launches to achieve the goal of deploying 45 satellites this year. The stock was noted to be down significantly overnight, reflecting broader concerns stemming from the Blue Origin incident and additional commentary regarding SpaceX's lowered IPO valuation.

HPE | +12.5% | +.B
Hewlett Packard Enterprise Co | Technology Hardware, Storage & Peripherals
Hewlett Packard Enterprise Co shares surged in pre-market trading following a strong earnings report from Dell Technologies Inc., which reported significant demand for AI-related products. Dell's fiscal first-quarter results exceeded expectations, with revenue of $43.84 billion and a remarkable 757% year-over-year increase in AI server revenue to $16.1 billion. This positive outlook from Dell, which raised its full-year revenue guidance, has bolstered sentiment across the server ecosystem, benefiting Hewlett Packard Enterprise as it competes in similar markets. The stock is trading sharply higher since Thursday's close, reflecting rising investor confidence in the growth potential of the AI sector.

OKTA| +9.1% | +1.6B
Okta Inc | Internet Services & Infrastructure
Okta Inc reported strong financial results for the first quarter of fiscal year 2027, with revenue of $765 million, exceeding analyst expectations of $751.79 million. The company's adjusted earnings per share were $0.91, surpassing the consensus estimate of $0.85. Both revenue and subscription revenue grew 11% year-over-year. Additionally, Okta raised its guidance for the second quarter and the full fiscal year, projecting adjusted EPS between $3.79 and $3.87 and total revenue between $3.185 billion and $3.205 billion for FY27. These positive developments have contributed to a notable increase in the stock price during pre-market hours on Friday, although shares pulled back from a session high earlier in the session.

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