US Pre-Market: Nvidia Drives Quantum Computing Four-Day Rally, Microsoft and Robinhood Extend Gains

Market Movements

Major U.S. index futures rose collectively pre-market

TradingKey - Before Thursday's U.S. market open, the CBOE Volatility Index (VIX) trended lower, and futures for the three major U.S. indices rose across the board. Among them, Nasdaq 100 futures rose 0.17% (at 26,249 points); S&P 500 futures rose 0.01% (at 7,029 points); and Dow Jones 30 futures rose 0.13% (at 48,536 points).

Nvidia's new AI model drives broad gains in quantum computing stocks

Before the bell on Thursday, quantum computing concept stocks extended their rally, with D-Wave Quantum ( QBTS ), IonQ ( IONQ ), Quantum Computing ( QUBT) all rising more than 6%, while Rigetti Computing ( RGTI) and Infleqtion ( INFQ) gained over 4%. Recently, Nvidia ( NVDA) announced the launch of an open-source AI model named Ising, designed to accelerate the development of quantum computing, a move that drove a three-day rally in the quantum computing sector.

U.S. advances space nuclear energy plan; nuclear power concept stocks benefit from broad gains

On Thursday, the White House issued a comprehensive policy directive aimed at sending U.S. nuclear reactors into orbit and onto the lunar surface, and shares of nuclear energy companies rose in response. Pre-market, NuScale ( SMR) surged 10%, Oklo ( OKLO) gained 8%, Nano Nuclear Energy ( NNE) rose over 7%, while Cameco ( CCJ) and Uranium Energy ( UEC) also saw gains of about 2%.

Microsoft extends rally to four days as Surface prices rise on U.S. website

Before the open, Microsoft ( MSFT) continued its gains, rising 1.37% today to $416.84. In terms of news, Microsoft has broadly increased prices for the Surface Laptop and Surface Pro on its U.S. official website, with the Surface Pro 11 and Surface Laptop 7 seeing price hikes of up to 50%. Yesterday, Microsoft shares jumped 4.64%, marking a three-day winning streak, and are expected to rise further today.

Microsoft stock price chart, Source: TradingView

Favorable SEC regulatory news drives Robinhood up over 2%

U.S. retail trading platform Robinhood ( HOOD) rose more than 2% pre-market to $89.36. Yesterday, Robinhood surged over 10% on favorable regulatory news. In terms of news, the U.S. Securities and Exchange Commission (SEC) on Tuesday evening approved a FINRA proposal to abolish thresholds for small investors, no longer limiting the number of trades within five business days for accounts with a net value below $25,000.

U.S.-Iran talk details yet to be finalized; gold, crude oil, and Bitcoin remain volatile

While there is a possibility of renewed talks between the U.S. and Iran, the time and location have yet to be determined. Market risk appetite has decreased, and various asset classes remain in a volatile trend. Spot gold ( XAUUSD) rose 0.59%, staying above $4,800 per ounce, while silver ( XAGUSD) fluctuated around $80 per ounce. Bitcoin ( BTC) rose 0.4%, oscillating around $74,000; WTI crude oil ( USOIL) fluctuated around $85 per barrel.

Market Headlines

Boeing accelerates factory hiring, reaching the fastest pace since the start of 2024

Boeing ( BA) is expanding its workforce at the fastest pace since the start of 2024. Union leader Jon Holden revealed that Boeing is currently hiring 100 to 140 factory workers per week, aiming to fill retirement vacancies and support production ramps and new model manufacturing. Currently, the total number of unionized Boeing employees in the Pacific Northwest has exceeded 34,000, and recruitment efforts remain ongoing.

EU proposes Google share search data,

The European Commission on Thursday regarding Google ( GOOG )'s compliance with the Digital Markets Act (DMA) issued preliminary findings, proposing that Google open search data (including AI information with search capabilities) for access by third-party search engines. Stakeholders must submit comments by May 1, and the EU expects to make a legally binding final decision by July 27.

Goldman Sachs predicts: Fed to cut rates in September and December

Goldman Sachs noted on April 16 that despite rising inflation expectations and slowing economic growth, current shocks are not yet sufficient to trigger a supply chain crisis or force the Fed to raise rates. Goldman expects that a slight increase in the unemployment rate and improvements in core inflation will offset energy price pressures, with the Fed projected to cut interest rates by 25 basis points each in September and December of this year.

Anthropic to launch Mythos model for UK banking industry next week

AI startup Anthropic plans to release the Mythos model to British financial institutions next week. Currently, "Project Glasswing" has attracted participation from giants such as Amazon and Apple, with Coinbase and Binance also applying for access. Notably, Anthropic has decided not to release the model to the public, as Mythos is believed to possess powerful capabilities for discovering and exploiting cybersecurity vulnerabilities.

Binance burns over 1 million BNB again

The BNB Foundation announced it has completed the 35th quarterly token burn on the BNB Smart Chain (BSC), destroying a total of approximately 1.569 million BNB, worth about $1.02 billion. Following the burn, the total circulating supply of BNB has decreased to approximately 134.8 million, continuing the progress toward the final goal of "reducing total supply to 100 million."

Key Data/Events Preview

US Initial Jobless Claims for the week ended April 11 (10,000s)

US Philadelphia Fed Manufacturing Index for April

US Industrial Production MoM for March

US Pentagon holds news briefing

Speech by NY Fed President and permanent FOMC voter John Williams

Speech by Fed Governor Milan

G20 Finance Ministers and Central Bank Governors Meeting