US Pre-Market: Trump Hints US-Iran Talks to Resume Over Weekend: US Stock Futures Continue to Rise, OpenAI Enters Pharmaceuticals to Target Google, Bitcoin Breaks 76,000 Mark Again

Market Movers

US Stock Index Futures Extend Gains Pre-market

TradingKey - Market sentiment remained optimistic ahead of Friday's US stock market open as the Volatility Index (VIX) fell further, driving gains in the three major US stock index futures. As of press time, Nasdaq 100 futures rose 0.21% to 26,388; S&P 500 futures rose 0.25% to 7,058; and Dow Jones Industrial Average futures gained 0.45% to 48,799.

GM and Ford in Talks over Defense Manufacturing

Boosted by defense-related news, General Motors ( GM) and Ford Motor ( F) rose 2.5% and 0.6% respectively pre-market. Reportedly, the Pentagon is in talks with these two automotive giants to discuss repurposing some civilian production lines for military use to produce weapons and equipment, aiming to replenish ammunition stockpiles heavily depleted by the situations in Ukraine and the Middle East.

Stellantis Surges Nearly 3% Pre-market on Strategic AI Partnership with Microsoft

Stellantis ( STLA) rose 2.7% pre-market to $8.37. The company announced yesterday its partnership with Microsoft ( MSFT )

by signing a five-year strategic cooperation agreement to collaborate deeply in artificial intelligence (AI), cybersecurity, and engineering technology, highlighting Stellantis' push to accelerate digital transformation in response to intensifying technological competition.

NiSource Rises 2.6% Pre-market on Major Energy Infrastructure Deals with Google and Amazon 

Utility operator NiSource ( NI) rose 2.6% pre-market to $48.96. The company stated on Thursday that it has reached energy infrastructure agreements with Google ( GOOG) and Amazon ( AMZN) to provide long-term power support for Google's new hyperscale data center in northern Indiana. The first phase of power supply under the agreement is expected to officially launch in the summer of 2026.

Alcoa Drops 3.3% Pre-market on Q1 Revenue and Profit Miss

Alcoa ( AA) fell more than 3.3% pre-market before narrowing its loss to 2.37% at $68.74. Latest earnings show first-quarter revenue fell 5% year-over-year to $3.19 billion, missing market estimates of $3.28 billion; adjusted earnings per share (EPS) was $1.40, also lower than the analyst estimate of $1.53.

Alcoa Stock Price Chart, Source: TradingView

Precious Metals and Crude Oil Continue Volatility; Bitcoin Once Breaks $76,000

With markets anticipating US-Iran negotiations over the weekend, investors chose to remain on the sidelines. Spot gold ( XAUUSD ), silver ( XAGUSD ), and WTI crude oil ( USOIL) all continued to oscillate. Bitcoin ( BTC) briefly surged to $76,325, hitting a new high since February 4, and has since pulled back to around $75,000.

Bitcoin Price Chart, Source: TradingView

Market Headlines

US-Iran negotiations see a glimmer of hope as nuclear deal process accelerates

U.S. President Donald Trump recently hinted that Washington and Tehran are expected to resume dialogue this weekend. Trump revealed that both sides are "very close" to reaching a consensus, with Iran pledging not to develop nuclear weapons for the next 20-plus years in exchange for the lifting of international sanctions. Trump further stated that if negotiations proceed smoothly, the U.S. will consider extending the ceasefire deadline as a gesture of diplomatic sincerity.

Germany calls for mobilization of jet fuel reserves

Influenced by supply concerns stemming from the situation in Iran, the German aviation lobby BDL on Friday urged European nations to release strategic jet fuel reserves. BDL, representing German airlines and airport operators, suggested that the Berlin government should mandate producers and oil storage operators to report kerosene inventory transparency. EU officials responded that specific proposals to address supply shortages and increase refinery output are expected to be officially announced on April 22.

OpenAI launches GPT-Rosalind to challenge Google's territory

AI giant OpenAI on Thursday released an early-stage AI model named "GPT-Rosalind," marking its formal entry into the field of biotech drug discovery. The model is specifically designed for life sciences research, aiming to assist scientists in extracting insights from massive datasets and accelerating the translation of research findings into clinical medical applications. The move directly targets Google's positioning in scientific and medical AI, signaling that Silicon Valley's competitive focus has shifted toward deeper scientific breakthroughs.

Charles Schwab considers entering prediction markets

Charles Schwab, the largest discount brokerage in the United States ( SCHW ), is demonstrating its innovative ambitions. The company's President and CEO Rick Wurster stated during the first-quarter earnings call on Thursday that the firm is seriously considering launching "prediction markets" at an appropriate time in the future, signaling that the traditional financial giant is actively seeking entry into the emerging field of event contract trading.

Key Data/Events Preview

San Francisco Fed President Mary Daly, a 2027 FOMC voting member, delivers a speech

Richmond Fed President Tom Barkin, a 2027 FOMC voting member, delivers a speech

Bank of Canada Governor Tiff Macklem delivers a speech

Federal Reserve Governor Christopher Waller delivers a speech