Pre-market futures show positive movement, with the Nasdaq rising by 315 points (+1.17%) following strong Q1 earnings from Intel. In contrast, the Dow is down 70 points (-0.14%) due to IBM’s struggles. Key economic concerns remain, notably the ongoing closure of the Strait of Hormuz amid promising cease-fire talks between Iran and Israel.
Procter & Gamble reported fiscal Q3 earnings of $1.59 per share, surpassing estimates by 3 cents, with revenues reaching $21.24 billion, exceeding projections by 3.5% and up from $19.78 billion last year. Additionally, SLB’s revenues were $8.32 billion, slightly beating estimates, but the stock faced a 3.6% pre-market decline.
Later today at 10 AM ET, the University of Michigan will release its final U.S. Consumer Sentiment print, which previously fell to a record-low 47.6, showing an -11% drop month over month. Upcoming earnings reports next week will include major companies such as Alphabet, Amazon, and Microsoft, along with key housing data and an FOMC meeting on Wednesday.
