(Editor's note: The future prices of benchmark tracking ETFs, and the headline, the lede and the economic were updated in the story.)
Stock Market Today: S&P 500, Dow, Nasdaq Futures Rise As Trump Pauses 'Project Freedom'- Super Micro Computer, AMD, Intel In Focus (UPDATED)
Benzinga 3 weeks ago
- Benzinga's Edge Stock Rankings indicate that SMCI maintains a strong price trend in the short term but a weak trend in the medium and long terms, with a solid growth score.
Advanced Micro Devices
- Advanced Micro Devices Inc.(NASDAQ:AMD) surged 18.64% as it reported better-than-expected first-quarter financial results and issued second-quarter sales guidance above estimates.
- Benzinga's Edge Stock Rankings indicate that AMD maintains a strong price trend in the short, medium, and long terms, with a good quality score.
Arista Networks
- Arista Networks Inc. (NYSE:ANET) dropped 8.74% as the company guided second-quarter revenue of $2.8 billion and EPS of $0.88, both above expectations, but shares fell sharply after hours as investors appeared to anticipate stronger guidance.
- Benzinga's Edge Stock Rankings indicate that ANET maintains a strong price trend in the short, medium, and long terms, with a poor value ranking.
Intel
- Intel Corp.(NASDAQ:INTC) advanced 6.40% after it cleared a significant antitrust hurdle for its investment in AI chip startup SambaNova, boosting investor confidence in its strategic direction.
- Benzinga's Edge Stock Rankings indicate that INTC maintains a strong price trend in the short, medium, and long terms.
Micron Technology
- Micron Technology Inc. (NASDAQ:MU) gained 6.50% after the company's CEO highlighted the growing demand for memory in AI applications, emphasizing that the issue lies in tight supply rather than weak demand. This surge in demand has positively impacted Micron's stock performance.
- Benzinga's Edge Stock Rankings indicate that MU maintains a strong price trend in the short, medium, and long terms, with a good growth score.
Cues From Last Session
Recording the biggest gains on Tuesday were materials, information technology, and industrials, as all S&P 500 sectors closed positively with no groups posting losses.
| Index | Performance (+/-) | Value |
| Dow Jones | 0.73% | 49,298.25 |
| S&P 500 | 0.81% | 7,259.22 |
| Nasdaq Composite | 1.03% | 25,326.12 |
| Russell 2000 | 1.75% | 2,845.00 |
Insights From Analysts
Professor Jeremy Siegel maintains a firmly optimistic outlook for the U.S. stock market and economy. He observes that the Federal Reserve's tone is shifting toward rate neutrality, making a June rate cut highly unlikely. Instead, he notes that "the next move in rates remains slightly more likely to be up than down."
Siegel sees strong underlying economic health, pointing to low jobless claims, solid retail sales, and a robust private sector. As he concisely states, "Across the real economy, I do not see weakness."
A key driver of this resilience is the artificial intelligence investment cycle, which has boosted infrastructure spending and helped the market broaden into industrials and value stocks.
The primary risk he identifies is rising energy costs. If retail gasoline prices spike past $5, it could trigger a sudden pullback in consumer spending. However, absent this shock, his base case is highly favorable.
Ultimately, Siegel states, "I remain bullish," emphasizing that "the expansion remains intact, earnings remain supportive, and equities continue to deserve the benefit of the doubt".
Upcoming Economic Data
Here's what investors will be keeping an eye on Wednesday.
- April ADP Labor Data: Private employers added 109,000 jobs in April, representing the fastest pace of job growth since January 2025, while annual pay for job-stayers increased by 4.4%.
- Chicago Fed President Austan Goolsbee will speak at 1:00 p.m. ET.
Commodities, Crypto, And Global Equity Markets
Crude oil futures were trading lower in the early New York session by 5.98% to hover around $96.15 per barrel.
Gold Spot US Dollar rose 3.11% to hover around $4,699.24 per ounce. Its last record high stood at $5,595.46 per ounce. The U.S. Dollar Index spot was 0.49% lower at the 97.9630 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading 1.03% higher at $81,629.88 per coin, as per the last 24 hours.
Asian markets closed higher on Wednesday, as South Korea's Kospi, Japan's Nikkei 225, China's CSI 300, Australia's ASX 200, Hong Kong's Hang Seng, and India's Nifty 50 indices rose. European markets were also higher in early trade.
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