Stock market futures are indicating a positive start to the trading day, with S&P 500 futures up by 15 points (0.3%), Nasdaq 100 futures increasing by 66 points (0.2%), and Dow Jones Industrial Average futures rising by 80 points (0.2%). This uplift is supported by a solid performance from major indices over the week and strong premarket activity from chipmakers, highlighted by a significant revenue increase reported by Taiwan Semiconductor Manufacturing (TSM, Financial).
Recent earnings reports have received mixed reactions. Akamai Tech (AKAM, Financial) has seen a decline in its share price due to weaker-than-expected future earnings guidance, while Natera (NTRA, Financial) has experienced a notable increase in its share value following positive results and optimistic future guidance. Meanwhile, Treasury yields have shown minimal changes, with slight increases in both the 10-year and 2-year note yields.
Key events to watch today include the preliminary May University of Michigan Consumer Sentiment and the April Treasury Budget report. In corporate updates, significant movements have been observed in stocks like Akamai Tech (AKAM, Financial), Natera (NTRA, Financial), Taiwan Semiconductor Manufacturing (TSM, Financial), T-Mobile (TMUS, Financial), Verizon (VZ, Financial), Unity Software (U, Financial), Novavax (NVAX, Financial), Victoria's Secret (VSCO, Financial), Dutch Bros (BROS, Financial), 3M (MMM, Financial), Apple (AAPL, Financial), and Microsoft (MSFT, Financial).
Overnight, Asian markets mostly advanced, with notable gains in Hong Kong and Japan, amidst optimism over eased property restrictions and potential economic stimuli. European markets are also poised to end the week on a high note, driven by positive economic data from the UK indicating potential emergence from recession.
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