Dow futures rise 120 points: 5 things to know before Wall Street opens

• S&P 500 is poised for its ninth straight weekly advance, the longest streak since December 2023, driven by AI optimism and resilient earnings despite inflation and geopolitical concerns.
• Dell surged 38.5% after raising full-year forecasts on AI infrastructure demand, while HPE gained 17.2% and Super Micro Computer climbed 11%, highlighting strong momentum in enterprise hardware.
• US inflation rose at its fastest pace in three years in April and Q1 GDP growth was revised down to 1.6%, with markets expecting the Fed to hold rates steady though December rate-hike pricing remains.

Market Summary: Dow Futures Rise on Record Momentum and Geopolitical Easing

Market Overview:

U.S. stock index futures opened modestly higher Friday following record closes on Thursday. Dow futures gained 120 points (+0.14%), while S&P 500 and Nasdaq 100 futures each rose under 0.1%. The S&P 500 is tracking toward its ninth consecutive weekly advance—the longest winning streak since December 2023.

Key Drivers:

*Geopolitics:* Reports of a U.S.-Iran agreement to extend a ceasefire and lift shipping restrictions through the Strait of Hormuz supported risk appetite, though the deal awaits President Trump's approval.

*AI Infrastructure Boom:* Dell surged 38.5% after raising full-year earnings and revenue forecasts on robust AI infrastructure demand. The rally extended to related stocks: HPE jumped 17.2% and Super Micro Computer climbed 11%.

Company-Specific Moves:

• Gap fell 5.9% after issuing a weak outlook, signaling cautious discretionary consumer spending
• Okta rose 8.1% on first-quarter revenue beating analyst expectations

Economic Backdrop:

April inflation accelerated at its fastest pace in three years, while first-quarter GDP was revised down to 1.6% annualized growth. Money markets expect the Federal Reserve to hold rates steady through year-end, with minimal pricing for a potential 25-basis-point hike in December.

Investor Focus:

Markets await commentary from Fed officials Anna Paulson, Neel Kashkari, and Mary Daly for policy guidance. Concerns persist about stretched valuations despite resilient earnings and AI enthusiasm continuing to drive sentiment.

The bullish tone reflects optimism around enterprise technology spending and easing geopolitical tensions, offset by mixed economic signals and consumer weakness.