Stock futures trended higher on Friday morning as traders watched developments between the U.S. and Iran. Investors also await the April unemployment rate and payrolls data. Futures on the Nasdaq 100 (NDX), the S&P 500 Index (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.76%, 0.51%, and 0.33%, respectively, at 8:10 a.m. EDT on May 8.
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Forget margin or options. Here's how the pros trade QQQAt the time of writing, Brent crude (CM:BZ) was up 0.62% to around $100.28 per barrel, while WTI crude (CM:CL) rose 0.07% to about $94.87.
In Thursday’s regular trading session, the S&P 500 and the Nasdaq Composite pulled back from intraday record highs. Overall, the Dow Jones, the S&P 500, and the Nasdaq Composite fell 0.63%, 0.38%, and 0.13%, respectively.
Looking at trending stocks, shares of CoreWeave (CRWV) were down 7% as the cloud infrastructure company’s second-quarter revenue guidance in the range of $2.45 billion to $2.6 billion fell short of expectations. Also, Cloudflare (NET) stock plunged 15% after the internet infrastructure and cybersecurity company announced 1,100 job cuts. Also, the company’s Q2 guidance failed to impress investors.
Additionally, Upwork (UPWK) stock tanked 26% after the company’s Q1 results missed expectations. Also, Upwork announced a 24% reduction in its workforce as part of its restructuring efforts. Trade Desk (TTD) stock fell more than 13% as the ad tech company missed Q1 earnings expectations and issued a weak Q2 revenue outlook.
Meanwhile, Iren (IREN) stock popped 10% after the data center company announced a deal with chip giant Nvidia (NVDA) to deploy up to five gigawatts of artificial intelligence (AI) infrastructure. Also, Nvidia will invest $2.1 billion in Iren.