--- type: "Topics" locale: "en" url: "https://longbridge.com/en/topics/40176466.md" description: "US Pre-Market Snapshot for April 24, 2026: I. Pre-Market Overview and Core Contradiction The three major index futures are extremely divergent: Dow futures down 0.27%, S&P 500 futures up 0.34%, Nasdaq 100 futures surging 1.22%. The core market contradiction today has shifted from "AI valuation bubble concerns" to "validation of the AI computing power demand paradigm shift." Intel's earnings report, exceeding expectations, has completely shattered the pessimistic narrative of "AI growth peaking," triggering a systematic revaluation of the semiconductor sector. II. Intel Earnings: A Complete Correction of AI Strategy Pricing Intel is surging 28.3% pre-market (implied opening price of $112.7, a record high). This is no ordinary earnings beat: - Core Expectation Gap: Consensus expected AI chip revenue of $1.8-$2.0 billion, but actual was $2.76 billion, beating expectations by 45%. AI business contribution jumped from 12% to 21%.- Capital Expenditure Guidance: Full-year guidance raised to $38-$40 billion (previously $32 billion), with 70% allocated to advanced process nodes and AI chip capacity, validating the persistence of the industry's supply-demand gap.- Spillover Effect: The market is revaluing undervalued AI computing power plays. AMD is up 10.7% (absorbing Intel's overflow demand), ARM is up 8.4%, and TSMC ADR is up 1.5% (70% of Intel's advanced process orders are outsourced). III. Fund Flows: From "Clustering in Leaders" to "Supply Chain Diffusion" Funds are primarily flowing out of defensive sectors and pure-play software AI companies that have risen too much in the earlier phase, rather than just rotating within tech. A clear "computing hardware first" logic is emerging. Gains in memory (Micron +1.7%), foundries, and server chips are significantly outpacing those of AI software companies. NVIDIA is up only 0.6%, indicating the market is no longer betting on a single leader and has started digging into undervalued links in the supply chain—a healthy signal for the continuation of the rally. IV. Macro and Geopolitical Marginal Impacts WTI crude up 0.25% to $96.10/barrel, Brent up 0.62% to $105.72/barrel. The second round of US-Iran talks is progressing slowly; risks in the Strait of Hormuz remain but are partially priced in. The probability of a June interest rate cut has fallen from 42% to 28%, but tech stocks are reacting mildly. The current core driver is corporate earnings, not monetary policy. If the final University of Michigan Consumer Sentiment Index at 22:00 shows rising inflation expectations, it could create short-term pressure. V. Key Trading Observations 1. Whether Intel's opening price is above $110. If turnover exceeds 3% within the first 15 minutes and the price holds above $108, the trend is confirmed.2. Whether the S&P 500 can effectively break through the historical resistance at 7180 points. A breakout on high volume would open up upside to 7250 points.3. If the Philadelphia Semiconductor Index volume exceeds 150% of its daily average, it would confirm systematic fund inflows.4. If Intel's intraday gain falls back below 15%, it could trigger profit-taking in semiconductors. Risk WarningIntel's optimism may have excessively front-loaded future expectations. A breakdown in US-Iran talks could push oil prices higher, limiting room for rate cuts. If Microsoft, Google, and Meta's earnings reports next week disappoint, it could trigger a broader tech sector adjustment.$Alphabet(GOOGL.US)$NVIDIA(NVDA.US)$Tesla(TSLA.US)" datetime: "2026-04-24T13:05:12.000Z" locales: - [en](https://longbridge.com/en/topics/40176466.md) - [zh-CN](https://longbridge.com/zh-CN/topics/40176466.md) - [zh-HK](https://longbridge.com/zh-HK/topics/40176466.md) author: "[美区交易员](https://longbridge.com/en/profiles/27459150.md)" --- # US Pre-Market Snapshot for April 24, 2026: I. 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