Stock Market Today: Futures Soar, Oil Prices Plummet on Report US, Iran Near Deal to End War; AMD Surges on Rosy Outlook
Stock futures surged and oil prices sank following a report that the US and Iran were nearing a deal to end the war. Advanced Micro Devices (AMD) shares soared 18% after the company posted strong earnings driven by demand for AI hardware.
Stock futures rose on Wednesday after a report that the US and Iran were close to a deal to end the war. Nasdaq 100, Dow Jones Industrial Average, and S&P 500 futures were up 1.6%, 1.1%, and 1.0%, respectively. Oil prices plummeted, with West Texas Intermediate futures dropping 11% to $91 a barrel. Advanced Micro Devices (AMD) shares surged 18% after the company reported adjusted first-quarter earnings per share of $1.37 on a 38% year-over-year jump in revenue to $10.25 billion. The strong earnings were driven by demand for AI hardware. Other tech shares also jumped, with Intel shares rising 13% and Micron Technology surging 11%.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.