5 Things to Know Before the Stock Market Opens

• Nvidia earnings release after closing bell is one of the most watched events on the financial calendar, with analysts looking for updates on stock buybacks, custom chips, memory price impacts, and China chip sales
• Target beat earnings expectations and doubled its full-year sales growth forecast to about 4% as turnaround efforts appear to be working; TJX also beat estimates and lifted guidance while Lowe's stock fell 2% in premarket trading
• SpaceX IPO filing could come as soon as today per Wall Street Journal, providing first detailed public look at Elon Musk's company finances ahead of expected record-setting IPO; April FOMC minutes due at 2 p.m. ET amid inflation concerns

Market Summary: Pre-Market Brief

Market Overview:

Stock futures rose following three consecutive sessions of losses, with Dow and S&P 500 futures up 0.2% and 0.3% respectively, while Nasdaq futures climbed 0.6%. The rally was driven by rebounding chip stocks ahead of Nvidia's earnings release.

Key Market Indicators:

• WTI crude oil: Down 2% to $102/barrel amid Iran war developments
• 10-year Treasury yield: 4.64%, down from 4.67% after hitting a year-high
• Gold: $4,500/ounce (slight decline)
• Bitcoin: $77,400 after five days of losses

Nvidia Earnings Focus:

The world's most valuable company ($5.3 trillion market cap) reports quarterly results after market close. Investors anticipate strong sales and profits driven by AI data center demand. Key watch points include stock buybacks, custom chip developments, memory price impacts, and China chip sales following CEO discussions with the Trump administration.

Retail Sector Updates:

Major retailers reported mixed results this morning:

• Lowe's: Beat earnings expectations but missed comparable store sales forecasts; stock down 2% premarket
• Target: Exceeded estimates and doubled full-year sales growth forecast to 4%
• TJX Companies: Beat revenue and profit estimates, raised guidance

Other Developments:

• SpaceX IPO: Regulatory filing expected as early as today, providing first detailed look at financials ahead of anticipated record-setting IPO
• Fed Minutes: April FOMC meeting minutes release at 2 PM ET, expected to reveal central bank thinking on inflation and rate policy. Last month's decision saw most dissenting votes in 30+ years

Senate passed resolution urging President Trump to end Iran war.