Nasdaq, S&P 500 Futures Rise Amid Iran Ceasefire Talks, Dell AI Rally: Why HPE, NOW, SMCI, ASTS, GME Are In Focus

• U.S. stock futures were subdued after the S&P 500 closed at a fresh record high on Thursday, as investors digested uncertainty surrounding Iran ceasefire negotiations. 
• Dell Technologies surged after reporting explosive growth in AI servers, while space stocks turned volatile following a Blue Origin rocket explosion and fresh questions about SpaceX’s IPO valuation. 
• Investors will also be tracking Chicago PMI data and multiple Federal Reserve speeches ahead of the weekend. 

U.S. stock futures edged mildly higher in early Friday trading as investors digested the tentative 60-day U.S.-Iran ceasefire extension proposal. Reports indicate that while Iran has agreed to certain terms, which included clearing mines from the Strait of Hormuz to guarantee unrestricted shipping, the deal still awaits final approval from President Donald Trump, who is reportedly mulling over the decision. 

As of 4:00 a.m. ET on Friday: S&P 500 and Dow futures were 0.1% higher, and Nasdaq futures were flat, while Russell 2000 futures were down 0.1%. This comes after a strong Thursday session where the S&P 500 hit fresh all-time highs. 

Retail sentiment toward the SPDR S&P 500 ETF (SPY), an exchange-traded fund that tracks the S&P 500 Index, remained in ‘bullish’ territory, while the Invesco QQQ Trust (QQQ) ETF, which tracks the Nasdaq-100 Index, has remained ‘neutral’.

Trending Stocks To Watch

Dell Technologies (DELL): The stock was trending on Stocktwits following a massive Q1 earnings beat, especially in its AI-optimized server business, which accounted for over a third of total sales. The hardware maker's stock soared another 40% in early premarket trade. 

Shares of competitors Hewlett-Packard (HPE) and SuperMicro Computer (SMCI), as well as partner ServiceNow (NOW), were higher in sympathy trade. 

Micron Technology (MU): Mizuho raised its target to $1,150 and named it its top sector pick. D.A. Davidson went even more aggressive, raising its target to $1,500. 

Adobe (ADBE): ‘Big Short’ investor Michael Burry named Adobe as the most promising player in the productivity and cybersecurity landscape in his latest Substack post. He said that Adobe remains undervalued despite fears AI could disrupt its creative software business. 

The space sector is in focus on Friday, with AST SpaceMobile (ASTS) leading the decline with a 11% drop, while Redwire (RDW), Intuitive Machines (LUNR), and Rocket Lab (RKLB) slid between 5% and 2% in premarket trade. This comes after a Bloomberg report revealed that SpaceX's upcoming June IPO is targeting a lower-than-expected valuation of $1.8 trillion (down from earlier expectations of $2 trillion). Meanwhile, Jeff Bezos's Blue Origin New Glenn rocket suffered an explosion during a static-fire test.

GameStop (GME) & eBay (EBAY): Regulatory filings revealed that GameStop, steered by CEO Ryan Cohen, has significantly increased its aggressive economic exposure in eBay to 7.78% from 6.55% just a week ago.

Lucid (LCID) has recalled more than 2,000 vehicles over drive power concerns. Chrysler and Honda announced separate vehicle recalls through the NHTSA. 

Other tickers trending on Stocktwits at the time of writing included BlackBerry (BB), UiPath (PATH), Boost Run Inc (BRUN), and SoFi Technologies (SOFI).

Other Catalysts To Watch

On the economic front, investors are tracking the release of the U.S. trade balance and Chicago PMI data later in the day. There’s also a host of Fed commentary due today, including speeches from Minneapolis Fed President Neel Kashkari, Kansas City Fed President Jeff Schmid, San Francisco Fed President Mary Daly, Fed Vice Chair Michelle Bowman, and Philadelphia Fed President Anna Paulson. 

On earnings radar, watch out for quarterly reports from Buckle (BKE), Genesco Inc (GCO), and Elmet Group (ELMT), among others, on Friday. 

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