Allstate Hit with $870M April Storm Loss Amid Growth Concerns
Earnings James Calloway

Allstate Hit with $870M April Storm Loss Amid Growth Concerns

Allstate reported $870 million in April catastrophe losses, mostly from two wind and hail events, sending shares down 3.4% and overshadowing strong Q1 earnings.

ALL
Tech Stocks Rally on Lower Yields, Nvidia Guidance, and Geopolitical Calm
Markets Daniel Marsh

Tech Stocks Rally on Lower Yields, Nvidia Guidance, and Geopolitical Calm

U.S. stock futures climbed Friday as lower Treasury yields lifted tech shares, with Nvidia guiding above estimates and Workday surging. Oil prices rose on geopolitical risks, but markets found support from easing bond yields.

NVDA WDAY TTWO EL AMD INTC
Markets Pause for Memorial Day with Inflation Data Looming
Markets Daniel Marsh

Markets Pause for Memorial Day with Inflation Data Looming

NYSE and Nasdaq closed Monday for Memorial Day. S&P 500 held near record levels as markets await PCE inflation data and AI earnings from Nvidia, Salesforce, and Dell.

NVDA CRM DELL
Workday Shares Surge 10% on Strong Q1 Results and AI Outlook
Earnings James Calloway

Workday Shares Surge 10% on Strong Q1 Results and AI Outlook

Workday shares rose nearly 10% in premarket trading after the company beat Q1 profit and revenue estimates and raised its full-year adjusted operating-margin forecast.

WDAY CRM NOW
GlobalFoundries Surges on $375M Quantum Deal and U.S. Stake
Technology Sarah Chen

GlobalFoundries Surges on $375M Quantum Deal and U.S. Stake

GlobalFoundries stock soared 15% after the U.S. Commerce Department unveiled a $375 million award and a 1% government stake in the chipmaker, part of a $2 billion federal quantum computing push.

GFS IBM
Wall Street Set for Normal Session; Bond Market Closes Early for Memorial Day
Markets Daniel Marsh

Wall Street Set for Normal Session; Bond Market Closes Early for Memorial Day

US stock exchanges will trade normally Friday, but bond markets close early for Memorial Day. Futures point to a higher open, with the 10-year yield falling to 4.56%.

SPY QQQ AMD NVDA AVGO
PNC Reduces T. Rowe Price Stake Amid Strategic Shift to US Equities
Markets Daniel Marsh

PNC Reduces T. Rowe Price Stake Amid Strategic Shift to US Equities

PNC Financial cut its T. Rowe Price stake by 4.3% in Q4. T. Rowe shifts to US equities, reports $1.825T AUM, but net outflows hit $10.6B. Q1 EPS of $2.52 beat estimates.

TROW PNC
NIO Shares Slip Despite Strong Q1 Revenue, Delivery Outlook
Earnings James Calloway

NIO Shares Slip Despite Strong Q1 Revenue, Delivery Outlook

NIO shares declined 5.5% in premarket trading Friday even as the company reported a 112% jump in first-quarter revenue and a positive delivery outlook.

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Intel Shares Rally on Foundry Hopes, Apple Speculation
Technology Sarah Chen

Intel Shares Rally on Foundry Hopes, Apple Speculation

Intel shares rose in premarket trading Friday, gaining up to 3.2% alongside other chip stocks as investors weigh optimism over its foundry push and Apple-related hopes.

INTC AMD MRVL TSM NVDA AAPL
Quantum Stocks Surge as US Government Commits $2 Billion in CHIPS Act Funding
Technology Sarah Chen

Quantum Stocks Surge as US Government Commits $2 Billion in CHIPS Act Funding

Quantum computing stocks rallied sharply on Thursday after the U.S. Commerce Department unveiled $2 billion in preliminary CHIPS Act funding agreements, with D-Wave, Rigetti, and Infleqtion all surging over 30%.

QBTS RGTI IBM GLD SLV USO UNG XLK XLF XLE XLV FXI MCHI
GTA VI Release Date Confirmed, Take-Two Shares Surge Premarket
Earnings James Calloway

GTA VI Release Date Confirmed, Take-Two Shares Surge Premarket

Take-Two Interactive shares gained 7% after hours after confirming GTA VI's Nov. 19 release date, easing concerns over delays, despite fiscal 2027 bookings guidance falling short of estimates.

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Brent Crude Surges Past $105 on Hormuz Supply Concerns
Commodities Rebecca Torres

Brent Crude Surges Past $105 on Hormuz Supply Concerns

Brent crude rose 3.2% to $105.88 on Friday as traders doubted a swift U.S.-Iran deal would restore oil flows through the Strait of Hormuz. The IEA warned of a potential supply red zone by August.

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