--- title: "U.S. Stock Market Outlook | Three Major Index Futures Rise Together, Brief U.S.-Iran Clash Intensifies Negotiation Fog, Pre-market Surge in Space and Chip Stocks" type: "News" locale: "en" url: "https://longbridge.com/en/news/287631879.md" description: "On May 26th, before the US stock market opened, the three major stock index futures all rose, with Dow futures up 0.61%, S&P 500 futures up 0.68%, and Nasdaq futures up 1.02%. Market news indicates that the brief exchange of fire between the US and Iran has intensified the fog of negotiations, leading to a cooling of market expectations for the resumption of passage through the Strait of Hormuz. JP Morgan predicts that the AI supercycle will drive the S&P 500 to break through 9,000 points" datetime: "2026-05-26T12:13:53.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/287631879.md) - [en](https://longbridge.com/en/news/287631879.md) - [zh-HK](https://longbridge.com/zh-HK/news/287631879.md) --- # U.S. Stock Market Outlook | Three Major Index Futures Rise Together, Brief U.S.-Iran Clash Intensifies Negotiation Fog, Pre-market Surge in Space and Chip Stocks ## Pre-Market Market Trends 1. As of May 26 (Tuesday), U.S. stock index futures are all up before the market opens. As of the time of writing, Dow futures are up 0.61%, S&P 500 futures are up 0.68%, and Nasdaq futures are up 1.02%. ![21.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20260526/1779796557942133.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) 1. As of the time of writing, the German DAX index is down 0.53%, the UK FTSE 100 index is up 0.50%, the French CAC40 index is down 0.82%, and the Euro Stoxx 50 index is down 0.76%. ![22.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20260526/1779796564192839.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) 1. As of the time of writing, WTI crude oil is down 4.17%, priced at $92.57 per barrel. Brent crude oil is up 2.73%, priced at $95.97 per barrel. ![23.png](https://imageproxy.pbkrs.com/https://img.zhitongcaijing.com/image/20260526/1779796576265147.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) ## Market News **U.S.-Iran brief skirmish intensifies negotiation fog.** The U.S. launched military operations in the Strait of Hormuz, to which Iran responded, significantly cooling market expectations for restoring passage through this critical waterway via negotiations. The U.S. Central Command issued a statement saying that U.S. forces had struck Iranian missile launch sites and vessels attempting to lay mines. A spokesperson stated that this action was defensive in nature, aimed at "protecting our troops from threats posed by Iranian forces." Iran subsequently responded. Reports indicate that the public relations department of the Iranian Islamic Revolutionary Guard Corps stated on the 26th that it shot down a U.S. MQ-9 "Reaper" drone in Iranian airspace over the Persian Gulf. Amid escalating regional tensions, Israel has also signaled a tougher stance, stating that it will further intensify its strikes against Hezbollah during the U.S.-Iran negotiations. Iran has made it clear that any peace agreement must include a condition to cease hostile actions in Lebanon. Prior to this series of escalations, U.S. President Trump stated on Monday that negotiations with Iran regarding an extension of the ceasefire agreement and temporary arrangements to ease restrictions on passage through the Strait of Hormuz were "proceeding smoothly." U.S. Secretary of State Rubio stated on Tuesday that negotiations with Iran may "take several more days" to finalize, dispelling market expectations for an immediate end to the conflict. **JP Morgan bets on "AI supercycle" reshaping productivity, boldly claiming S&P 500 will break 9,000 points.** JP Morgan's latest research report indicates that driven by a tech stock bull market dominated by the AI computing trading theme, the institution predicts that the benchmark U.S. stock index—the S&P 500—could break the seemingly unattainable epic level of 9,000 points within the next year. This target price implies an increase of about 22% from current levels. Despite widespread market concerns about U.S. inflation pressures and rising energy costs related to geopolitical risks from the Iran war, JP Morgan's analyst team believes that the actual scale of the AI supercycle may exceed the institution's previous expectations And become the core engine of the market's continuous rise. JP Morgan believes that if artificial intelligence can indeed significantly advance total factor productivity in an exponential manner, then the valuation expansion of technology stocks will gain incredibly solid fundamental support. **U.S. stocks are no longer reliant solely on the seven giants; the earnings of the other 493 companies in the S&P 500 are also beginning to surge.** The earnings growth of the S&P 500 index is spreading from the "seven giants" to a broader range of companies. Data released by FactSet shows that the "seven giants" consisting of Nvidia, Microsoft, Google, Amazon, Meta, Apple, and Tesla saw a year-on-year increase of 63.2% in earnings per share in the first quarter, marking the largest increase since the second quarter of 2021. More noteworthy for Wall Street is that the remaining 493 companies in the S&P 500 also experienced a year-on-year earnings growth of 17.4% in the first quarter, the fastest growth rate since the fourth quarter of 2021. Overall, the S&P 500 index's earnings growth reached 28.4% in the first quarter. This set of data indicates that earnings growth is no longer solely dependent on tech giants. **The earnings report bonanza is over, and U.S. stocks face the midterm election curse.** U.S. stock traders are set to return after the Memorial Day holiday, and before that, U.S. stocks have shown remarkable resilience amid geopolitical risks. The S&P 500 index closed higher last Friday, achieving its eighth consecutive week of gains, marking the longest winning streak of 2023. Despite rising global bond yields continuing to exert pressure on the market, major stock indices are still steadily climbing. As June approaches, technical strategists are warning investors to be cautious of subsequent risks. Statistics from Dow Jones Market Data show that the summer of midterm election years has traditionally been a weak phase for U.S. stocks. Data indicates that in such years, the S&P 500 index averages a cumulative decline of 2.8% from the end of April to the end of September. However, this year's market has started off in stark contrast, with the index rising 3.7% from May to the present. **GDPNow predicts a sharp increase of 4.3% in U.S. GDP for the second quarter, but Pantheon warns: don't be misled by "false heat."** U.S. economists are increasingly questioning the reliability of the Atlanta Federal Reserve's closely watched GDPNow model. This model predicts an annualized growth rate of 4.3% for the U.S. economy in the second quarter, more than double the 2.0% growth rate of the first quarter, based on extremely limited underlying data. However, independent macroeconomic research firm Pantheon cautions against being misled by false heat, suggesting that the second quarter growth is likely around 1.5%. Pantheon points out that the GDPNow model's predictions are based on "too little data to be credible" and warns that the model heavily relies on statistical extrapolation rather than solid economic data inputs. The firm states that the latest GDPNow estimate includes almost no hard data from May or June and lacks credible information on the volatile trade and inventory components—both of which can significantly alter the overall GDP reading. **Former Goldman Sachs commodities chief: Gold will first drop back to $4,000 before surging to $10,000.** Senior commodities strategist Jeffrey Currie stated that gold may face a short-term pullback due to geopolitical tensions and a slowdown in central bank buying, which are putting pressure on investor sentiment. However, in the long term, the bullish logic for gold remains solid He stated: "Once the energy crisis impacts economic growth and prompts the central bank to turn dovish, the trading logic will reset, and I will go long again." Regarding the price trend of gold, this senior commodity expert predicts that gold prices may first fall to around $4,000 per ounce, erasing the gains since 2026, and then will aim to break through the $10,000 per ounce mark. ## Individual Stock News **SpaceX IPO "magnetic effect" continues to ferment! The US stock space sector surges violently.** In the pre-market trading session of US stocks, the celebration in the space sector ignited by SpaceX continues. As of the time of writing, Momentus (MNTS.US) soared 62%, Redwire (RDW.US) rose 14%, MDA Space (MDA.US) increased 12%, Firefly Aerospace (FLY.US) climbed 9%, Voyager Technologies (VOYG.US) gained 6%, Intuitive Machines (LUNR.US) rose 11%, York Space Systems (YSS.US) increased 10%, AST SpaceMobile (ASTS.US) rose 7%, and Rocket Lab (RKLB.US) gained 5%—major space concept stocks almost simultaneously surged significantly in pre-market trading, continuing the upward momentum of the entire sector since SpaceX submitted the S-1 filing on May 20. **Chip stocks rise broadly in pre-market.** On Tuesday, in the pre-market of US stocks, as of the time of writing, Micron Technology (MU.US) rose over 7%, AMD (AMD.US) increased over 3%, Qualcomm (QCOM.US) rose over 2%, TSMC (TSM.US) climbed nearly 2%, and Intel (INTC.US) and NVIDIA (NVDA.US) rose over 1%. **Tesla (TSLA.US) doubles down on solar: $250 million factory in Texas revealed, sprinting towards 100GW target.** Tesla's next major energy layout may not come from its automotive business, but from a large solar manufacturing park located in the suburbs of Houston. Tesla is developing a large solar manufacturing base within its Brookshire facility, which is also constructing a Megapack battery factory. Reports indicate that the proposed project will cover almost all aspects of solar manufacturing—from crystal pulling, slicing to photovoltaic cell production and finished component assembly—forming a vertically integrated production facility with cleanroom-level manufacturing space, with construction expenditures exceeding $250 million. If completed as planned, this project will be the clearest step Tesla has taken towards Musk's proposed goal of "annual solar manufacturing capacity reaching 100 gigawatts." **Nearly €1 billion fine! EU reportedly to impose the strictest DMA regulatory penalty on Google (GOOGL.US) in history.** Reports indicate that the European Commission is preparing to impose a fine on Google close to €1 billion (approximately 7.9 billion RMB) for violating the Digital Markets Act (DMA) by systematically favoring its own products in search results and suppressing competitors. If the news is true, this will be the highest fine issued under the DMA since its full implementation in May 2024, and it follows the first round of fines imposed on Apple and Meta The most severe enforcement action to date initiated by the "gatekeepers" searching the global market. The decision is nearing completion and is expected to be officially announced before the EU's summer recess. **Priced at €550,000: Ferrari (RACE.US) launches its first all-electric Luce, betting on whether the "scarcity model" can navigate the electric era?** Ferrari has launched its first all-electric vehicle, a five-seat model priced at €550,000 (approximately $640,000), marking a break from the company's traditional fuel-powered vehicles. Before the car's release, Ferrari disappointed investors with its long-term targets last year, raising questions about how it will balance electric technology with internal combustion engine models that remain central to its brand. Luce represents an important test case: Ferrari must prove that an electric vehicle can fit its model of limited supply, high pricing, and emotional appeal while also expanding its product line beyond traditional two-seater and four-seater sports cars. As of the time of writing, Ferrari's stock fell 3% in pre-market trading on Tuesday. **Joyy (JOYY.US) Q1 revenue achieves the highest year-on-year growth rate in recent years, returning $1.5 billion to shareholders over the next three years.** Joyy released its Q1 2026 financial report. In this quarter, Joyy's revenue reached $555.7 million, a year-on-year increase of 12.4%, achieving the highest year-on-year growth rate in recent years; non-GAAP operating profit and EBITDA reached $38 million and $45.7 million, respectively, up 22.5% and 13.2% year-on-year. At the same time, Joyy upgraded its shareholder return plan, allowing for the repurchase of $600 million in stock and $900 million in dividends from 2026 to 2028, totaling up to $1.5 billion over three years. As of the time of writing, Joyy's stock surged nearly 12% in pre-market trading on Tuesday. ## Important Economic Data and Event Forecast Beijing time 22:00 US May Conference Board Consumer Confidence Index ## Earnings Forecast Wednesday morning: Agora (API.US), Sociedad Química y Minera de Chile (SQM.US) Wednesday pre-market: Pinduoduo (PDD.US), Kingsoft Cloud (KC.US) ### Related Stocks - [.DJI.US](https://longbridge.com/en/quote/.DJI.US.md) - [.SPX.US](https://longbridge.com/en/quote/.SPX.US.md) - [.IXIC.US](https://longbridge.com/en/quote/.IXIC.US.md) - [JPM.US](https://longbridge.com/en/quote/JPM.US.md) - [NVDA.US](https://longbridge.com/en/quote/NVDA.US.md) - [MSFT.US](https://longbridge.com/en/quote/MSFT.US.md) - [GOOGL.US](https://longbridge.com/en/quote/GOOGL.US.md) - [AMZN.US](https://longbridge.com/en/quote/AMZN.US.md) - [META.US](https://longbridge.com/en/quote/META.US.md) - [AAPL.US](https://longbridge.com/en/quote/AAPL.US.md) - [TSLA.US](https://longbridge.com/en/quote/TSLA.US.md) - [MNTS.US](https://longbridge.com/en/quote/MNTS.US.md) - [RDW.US](https://longbridge.com/en/quote/RDW.US.md) - [MDA.US](https://longbridge.com/en/quote/MDA.US.md) - [FLY.US](https://longbridge.com/en/quote/FLY.US.md) - [VOYG.US](https://longbridge.com/en/quote/VOYG.US.md) - [LUNR.US](https://longbridge.com/en/quote/LUNR.US.md) - [YSS.US](https://longbridge.com/en/quote/YSS.US.md) - [ASTS.US](https://longbridge.com/en/quote/ASTS.US.md) - [RKLB.US](https://longbridge.com/en/quote/RKLB.US.md) - [MU.US](https://longbridge.com/en/quote/MU.US.md) - [AMD.US](https://longbridge.com/en/quote/AMD.US.md) - [QCOM.US](https://longbridge.com/en/quote/QCOM.US.md) - [TSM.US](https://longbridge.com/en/quote/TSM.US.md) - [INTC.US](https://longbridge.com/en/quote/INTC.US.md) - [RACE.US](https://longbridge.com/en/quote/RACE.US.md) - [JOYY.US](https://longbridge.com/en/quote/JOYY.US.md) - [API.US](https://longbridge.com/en/quote/API.US.md) - [SQM.US](https://longbridge.com/en/quote/SQM.US.md) - [PDD.US](https://longbridge.com/en/quote/PDD.US.md) - [KC.US](https://longbridge.com/en/quote/KC.US.md) - [JPM-M.US](https://longbridge.com/en/quote/JPM-M.US.md) - [JPM-C.US](https://longbridge.com/en/quote/JPM-C.US.md) - [JPM-D.US](https://longbridge.com/en/quote/JPM-D.US.md) - [JPM-L.US](https://longbridge.com/en/quote/JPM-L.US.md) - [8634.JP](https://longbridge.com/en/quote/8634.JP.md) - [JPM-K.US](https://longbridge.com/en/quote/JPM-K.US.md) - [JPM-J.US](https://longbridge.com/en/quote/JPM-J.US.md) - [NVD.DE](https://longbridge.com/en/quote/NVD.DE.md) - [GOOG.US](https://longbridge.com/en/quote/GOOG.US.md) - [MNTSW.US](https://longbridge.com/en/quote/MNTSW.US.md) - [LUNRW.US](https://longbridge.com/en/quote/LUNRW.US.md) - [YY.US](https://longbridge.com/en/quote/YY.US.md) - [03896.HK](https://longbridge.com/en/quote/03896.HK.md) ## Related News & Research - [PEACE TALKS HAVE CAUSED “FRUSTRATIONS” INSIDE THE WHITE HOUSE, THOUGH A DEAL MAY BE NEAR — SKY NEWS](https://longbridge.com/en/news/287670036.md) - [Numbers Do Not Matter In Space](https://longbridge.com/en/news/287104226.md) - [SpaceX IPO Mania Fuels $200 Million Rush for Next Big Space Bet](https://longbridge.com/en/news/287609240.md) - [SpaceX’s IPO is a bet gravity doesn’t apply to Elon Musk](https://longbridge.com/en/news/287552312.md) - [Astroscale to Switch Independent Auditor to KPMG AZSA After Seven-Year Term](https://longbridge.com/en/news/286828754.md)