Stock futures rose on Wednesday morning, driven by blowout Q1 earnings and guidance from chipmaker Advanced Micro Devices (AMD) as well as news of the U.S. and Iran nearing an agreement to end the war. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX) Index, and the Dow Jones Industrial Average (DJIA) were up 1.29%, 0.77%, and 0.82%, respectively, at 8:30 a.m. EDT on May 6.
Claim 55% Off TipRanks
New trading tool for QQQ bullsNotably, citing sources, Axios reported that the U.S. and Iran were nearing a deal to resolve the conflict. Consequently, oil prices declined on hopes of easing supply chain disruption. At the time of reporting, Brent crude (CM:BZ) fell 6.57% to around $102.65 per barrel, while WTI crude (CM:CL) was down 7.75% to about $94.54.
In Tuesday’s regular trading session, the S&P 500 and the Nasdaq Composite closed at new record highs. Specifically, the Nasdaq Composite, the S&P 500, and the Dow Jones gained 1.03%, 0.81%, and 0.73%, respectively.
Trending stocks on Wednesday included AMD shares, which rallied more than 17% after the chipmaker reported strong Q1 results and issued an impressive outlook, driven by demand for its AI CPUs and GPUs. Also, Super Micro Computer (SMCI) stock soared more than 12% as the AI server maker announced solid fiscal fourth-quarter guidance.
Additionally, Uber Technologies (UBER) stock surged more than 7% as the ride-hailing company announced a better-than-expected Q2 outlook. Meanwhile, Lucid (LCID) stock was down about 5% after the electric vehicle (EV) maker reported a wider-than-anticipated loss per share for Q1 2026 and missed revenue expectations. In contrast, Walt Disney (DIS) stock rose about 5% after the media and entertainment giant reported upbeat revenue for the fiscal second quarter, driven by strength in the streaming business.