Nasdaq, S&P 500, Dow Futures Climb As Trump's $2B Quantum Computing Bet Outweighs Iran Jitters: RKLB, IBM, RGTI, NIO In Focus

• Meanwhile, hopes of a peace deal with Iran remain uncertain after Tehran has reportedly said that it plans to retain its enriched uranium stockpile within the country.
• Nasdaq 100 futures led the gains, with the Dow futures and S&P 500 futures also edging higher.
• Oil prices reversed declines to edge higher after reports on Iran.

U.S. stock futures climbed higher in the overnight trading session heading into Friday as President Donald Trump’s $2 billion quantum computing bet pushed stocks higher, overshadowing investor concerns around a peace deal negotiation with Iran.

Nasdaq 100 futures led the gains, climbing 0.35% higher, while Dow futures and S&P 500 futures were 0.20% and 0.19% up, respectively, as of 9.25 p.m ET.  

Among ETFs tracking benchmark indexes, the SPDR S&P 500 ETF (SPY), Invesco QQQ Trust (QQQ) and SPDR Dow Jones Industrial Average ETF Trust (DIA) all traded higher at the time of writing, with retail sentiment in the green for SPY and QQQ, and ‘neutral’ for DIA.

Meanwhile, the Treasury yields have lost some steam. The iShares 20+ Year Treasury Bond ETF (TLT) slipped about 0.12% overnight, although sentiment was in the ‘bullish’ territory.

How Did US Markets Fare?

On Thursday, benchmark indexes closed higher amid optimism from upbeat Wall Street earnings despite uncertainty around the U.S.-Iran war. The Dow Jones Industrial Average rose to its first record close in more than three months, rising 0.6%. The S&P 500 gained 0.17% at close, while the Nasdaq Composite edged up 0.09%.

US Market Drivers

U.S. stock markets climbed on Thursday after the Trump administration made a $2 billion equity bet across nine quantum-computing companies, with about half of it invested in a new International Business Machines Corp. (IBM) venture that will manufacture quantum chips.

Quantum computing stocks soared following the announcement, aiding the benchmark indexes’ climb, even as other technology stocks' performance was muted.

Meanwhile, hopes of a peace deal with Iran were renewed after U.S. Secretary of State Marco Rubio reportedly said there had been "some good signs" in talks with Iran, although he sounded a note of caution about a diplomatic deal between the two countries if Tehran continued to block the Strait of Hormuz.

However, Tehran has reportedly said that it plans to retain its enriched uranium stockpile within the country, potentially complicating talks with the U.S., as Trump has pushed for dismantling Iran’s nuclear program, making it a key component of deal negotiations. Oil prices reversed higher on the news.

On the economic front, markets will be tuned into the final May consumer sentiment reading and April’s leading economic indicators (LEI).

Trending Stocks To Watch

Rocket Lab USA, Inc. (RKLB): Shares of the rocket company were up nearly 4% in extended trading hours, reversing a red close, after it bagged a U.S. Space Force contract to build geostationary defense satellites, worth $90 million.

Rigetti Computing Inc. (RGTI): The California-based quantum computing company’s shares rallied by over 30% on Thursday and continued to climb higher in the after-market session following the announcement of the Trump administration’s massive grants for quantum companies. RGTI will be awarded $100 million.

D-Wave Quantum Inc. (QBTS): D-Wave Quantum was another beneficiary of the quantum stocks' jump, posting its steepest climb in more than a year, closing over 33%. QBTS stock was up more than 7% in overnight trading following the $100 million grant.

Infleqtion Inc. (INFQ): Shares of the company were up nearly 6% in overnight trading after having closed up more than 30%. Infleqtion will also be awarded $100 million from the Trump administration.

NIO Inc. (NIO): U.S.-listed shares of the Chinese electric vehicle maker climbed higher after the company reported strong first-quarter earnings results and an optimistic forecast for the upcoming quarter.

Broader Market Trends

Oil futures were higher in the overnight session heading into Thursday. Brent crude futures expiring in July jumped up about 2.36% to trade at around $105.00 a barrel, while WTI crude futures expiring in June gained about 1.86% to trade at $98.14 a barrel at the time of writing.

Although Treasury yields cooled off after climbing to near-record levels, some market experts warn that this is not the end. “The next level would be about 4.8%, which is where [the 10-year benchmark] hit in January of 2025,” WisdomTree’s Kevin Flanagan reportedly told Wall Street Journal. “I still think we’re in a scenario where the market sentiment is to sell into strength.” The 10-year yield was at 4.578% at the time of writing.

Meanwhile, gold prices slipped to around $4,531.22 an ounce.

Asian markets were trading mixed at the open on Friday, with the KOSPI and the SSE Composite index slipping lower at the time of writing, while the Nikkei 225 edged higher. Australian stocks were also climbing at the open.

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