PRE-OPEN
Canadian futures are slightly higher, mirroring Wall Street, as oil prices retreated further on hopes of a U.S.-Iran peace deal that could potentially normalize crude supplies through the Strait of Hormuz.
Canada
Canadian economic activity expanded in April at the fastest pace in seven months as measures of employment and prices accelerated, Ivey Purchasing Managers Index (PMI) data showed.
First Tellurium Corp. (CSE: FTEL, OTC: FSTTF)reports that it’s 83%-owned subsidiary PyroDelta Energy was recently featured in IEEE Spectrum, the flagship publication of the Institute of Electrical and Electronics Engineers (IEEE) and one of the most respected voices in global engineering journalism. The article spotlights PyroDelta’s pioneering capillary casting process, an innovation poised to reshape the future of thermoelectric materials and energy harvesting. The article can be viewed here.
“IEEE Spectrum is widely regarded as the premier publication for emerging engineering innovations,” said PyroDelta Head Engineer Michael Abdelmaseh. “This article underscores the significance of our work. I’m very pleased that we’re able to share our ideas with the global engineering community.”
Don Freschi, Technical Advisor to First Tellurium and CEO of Fenix Advanced Materials, stated: “I am a long time reader of IEEE Spectrum, and I see this as clear validation of PyroDelta’s technology and processes. It’s a serious publication that has always adhered to rigorous editorial standards for a global readership of engineers, researchers, and technology leaders.“
Freschi added, “PyroDelta’s thermoelectric technology is so unique that it will change the way waste energy is harvested from various industries. I’ve seen this patented technology in action and was extremely impressed. These devices can handle large temperature gradients, while remaining intact and fully functional, unlike traditional thermoelectrics.”
The article notes how capillary casting reduces materials waste in thermoelectric crystal manufacturing by 60–80% and produces crystals with up to ten times greater durability compared to conventionally machined components. The ability to form curved or tubular geometries also opens the door to new thermoelectric generator designs, including pipe‑integrated systems for data‑center cooling loops, automotive radiators, and aerospace applications.
“This feature really highlights the versatility of PyroDelta’s technology,” said First Tellurium President and CEO Tyrone Docherty. “Although we’re currently focused on boosting the range and payload of heavy-lift drones, there are many industries—and particularly AI data centers— where we can capture waste heat and turn it into renewable energy.”
Mink Ventures Corporation (TSXV: MINK) announced it has received all preliminary airborne electromagnetic (VTEM) survey data for its Warren Nickel Copper Cobalt Project, located approximately 35 km west of Timmins, Ontario. Eight, new, high priority drill targets identified.
The presence of nickel, copper, and cobalt mineralization within a massive sulphide zone in the recent 2026 drilling on the A Zone at Warren, supports the potential for the deposition of larger magmatic sulphide zones across the property.
The recently acquired airborne data covers the western portion of the property where VTEM coverage was incomplete. VTEM can penetrate up to 500 meters and can better define potential massive sulphide mineralization targets similar to the mineralized zone intersected on the A Zone. Recent drilling at A Zone returned 7.1 meters of 0.44% Ni, 0.28% Cu and 0.06% Co (Figure 4); including a higher-grade intercept of 4 meters of 0.58% Ni, 0.18% Cu and 0.08% Co.
VTEM PROGRAM HIGHLIGHTS
The recent VTEM survey shows a distinct correlation with the ground Induced Polarization (IP) survey and known mineralized surface occurrences.
A Maxwell Plate interpretation of the new VTEM data was also completed. This data was incorporated and reviewed with historic drill data and known mineralized surface zones.
Eight, new, high priority VTEM anomalies were identified and warrant drill testing.
A total of 1,250 meters of drilling was recommended to test these new target areas.
Several distinct VTEM responses were identified along strike or proximal to known occurrences ex. D Zone and North Zone. Mink drill hole W26-17A on the D Zone returned a 2.5 meter intercept of massive sulphide with 0.35% Ni, 0.14% Cu, and 0.06% Co; and North Zone surface sampling in massive sulphide returned 0.967% Ni and 0.07% Co. Two drill holes have been recommended to evaluate two, new, untested VTEM targets in close proximity to this known mineralization.
Further, a strong VTEM response with 400 meters of strike length is associated with and proximal to historical drill hole ML1, which returned 0.84% Cu over a 4.3 meter interval. This mineralization is hosted in a felsic volcanic package, an environment with potential to host copper zinc volcanogenic massive sulphide (VMS) deposits. The volcanic package hosting drill hole ML1 mineralization lies along the western flank of the Kamiskotia Gabbro Complex (KGC), which hosts magmatic nickel sulphide zones intersected in Mink’s recent drilling.* Three drill holes (550 meters) have been proposed to test three untested, new VTEM targets in close proximity to this historical hole ML1.
Ground truthing of two VTEM targets east of the current survey area within the KGC was completed in 2025. These two targets were covered in muskeg with no outcrop exposure noted. The Maxwell Plate study of these two targets recommended 420 meters of drilling to test for nickel copper bearing magmatic nickel sulphide. These targets are fully permitted and it is anticipated that these drill targets will be tested during the summer of 2026.
Natasha Dixon, CEO, commented, “The new VTEM geophysical data and Maxwell Plate analysis completes coverage over the western portion of our 11 km2 property. The survey data identified eight, brand new, high priority drill targets that are fully permitted and drill ready, and enables our team to best direct the focus of our next exploration and drill campaign at Warren.” E: ndixon@minkventures.com or Kevin Filo, Director,
Alaska Silver Corp. (TSXV: WAM) announces that, in accordance with the Articles of the Company, it has simplified its dual-class share structure by eliminating the class of proportionate voting shares as an authorized class of shares and renaming the subordinate voting shares of the Company as "Common Shares" (the "Capital Alteration"). This change follows from the Company's conversion of all outstanding proportionate voting shares into subordinate voting shares on March 9, 2026 (see the Company's news release dated February 11, 2026).
Kit Marrs, CEO, stated: "This is a clean reset for Alaska Silver. Our legacy dual-class structure—tied to our former Foreign Private Issuer status—no longer reflected who we are today. By moving to a single class of common shares, we're simplifying our story, improving accessibility, and positioning the stock for stronger liquidity. We believe this change makes Alaska Silver more investable and gives the market a clearer, more compelling view of our value. I wish to express my gratitude to our legacy shareholders who have worked with us through this long conversion process. As we launch our 2026 drilling program, this continues to be a pivotal time for our company in so many ways.”
Altura Energy Corp. (TSXV: ALTU) (OTCQB: ALTUF) (FSE: Y020) provide an operational update on the previously announced pipeline replacement and infrastructure upgrade program (see March 31, 2026 press release) at the Saddle Horse Draw target within the Pinta South Helium Field (PSHF) in the Holbrook Basin of Arizona. The pipeline installation remains on schedule, on budget, and will allow Altura to tie-in its existing wells.
The pipeline project represents a key milestone as the Company transitions from successful recompletion and testing activities toward potential near-term helium sales and potential cash flow generation. The first two wells being brought online flowed 123 mcfd and 118 mcfd respectively at 6.5% Helium concentration during initial production tests. Altura is also gearing up for three additional workovers on existing wells, which will be tied into the new pipeline once completed.
"Maintaining schedule and budget discipline while rapidly advancing toward production is a defining milestone for Altura," said Ashley Lastinger, CEO of Altura Energy. "With pipeline construction progressing on time and tie-in activities expected within weeks, the Company is entering a transformational phase as it positions for potential near-term helium sales and potential cash flow generation. We believe Altura is coming to market at a highly strategic time, as growing demand from semiconductors, medical technology, aerospace, and advanced manufacturing continues to collide with constrained global helium supply.”
Anaergia Inc. (TSX: ANRG) (OTCQX: ANRGF), a global provider of integrated waste to-value solutions today announced that it has entered into a credit agreement (the "Credit Agreement") with National Bank of Canada (the "Bank"), as lender, for a revolving credit facility in the maximum principal amount of $20,000,000 (the "Credit Facility"), with an option to increase the maximum principal amount by up to $10,000,000. All amounts are in Canadian dollars unless otherwise stated.
The credit facility provides Anaergia with enhanced liquidity and financial flexibility to support the execution of its existing contracted backlog. Proceeds will be used for general corporate purposes, in accordance with the terms of the Credit Agreement.
"This agreement with National Bank of Canada reflects growing institutional confidence in Anaergia's business model, project execution capabilities, and financial discipline," said Assaf Onn, CEO of Anaergia. "The facility meaningfully strengthens our balance sheet flexibility as we deliver complex infrastructure projects for customers across multiple geographies.” For media and/or investor relations please contact: IR@Anaergia.com
Banyan Gold Corp. (TSXV: BYN)(OTCQB:BYAGF) announce that it has closed its previously announced private placement for aggregate gross proceeds of $46.5 million (the "Offering"), consisting of: (i) 15,500,000 common shares (the "FT Shares"), which qualify as "flow-through shares" (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) (the "Tax Act"), at a price of $1.918 per FT Share, for gross proceeds of $29.7 million; and (ii) 12,000,000 common shares (the "Common Shares") at a price of $1.40 per share, for gross proceeds of $16.8 million.
The FT Shares and Common Shares were issued pursuant to applicable private placement exemptions and are subject to a hold period under Canadian securities laws expiring September 7, 2026. The Offering remains subject to the final approval of the TSX Venture Exchange (the "TSXV”). View the original press release on ACCESS Newswire
BriaCell Therapeutics Corp. (Nasdaq: BCTX, BCTXL) (TSX: BCT), a clinical-stage biotechnology company developing novel immunotherapies to transform cancer care is pleased to announce the addition of NYU Langone Health’s Laura and Isaac Perlmutter Cancer Center, a renowned cancer center in New York City, as a clinical trial site in its ongoing pivotal Phase 3 clinical study (Bria-ABC).
BriaCell has enjoyed a marked uptick in interest from premier cancer centers and patient enrollment numbers following the prominent independent feature of its Phase 3 clinical trial in Nature Medicine’s publication, “Eleven clinical trials that will shape medicine in 2026”, linked here.
BriaCell’s pivotal Phase 3 clinical study in Advanced Breast Cancer (Bria-ABC) is evaluating BriaCell’s lead clinical candidate, Bria-IMT™, plus an immune check point inhibitor versus treatment of physician’s choice in advanced metastatic breast cancer.
“At NYU Langone Health’s Perlmutter Cancer Center, we are dedicated to offering state-of-the-art treatments to patients with difficult-to-treat cancers,” stated Nancy Chan MD, Director, Breast Cancer Clinical Research, NYU Langone Health’s Perlmutter Cancer Center. “We look forward to helping accelerate the development of Bria-IMT, a novel immunotherapy with the potential to improve outcomes for patients with advanced metastatic breast cancer.”
“We are thrilled to partner with clinical experts at the renowned NYU Langone Health’s Perlmutter Cancer Center, a patient-focused, NCI-designated Comprehensive Cancer Center, to further expand patient access to our novel immunotherapy treatment,” said Dr. Giuseppe Del Priore, BriaCell’s Chief Medical Officer. “We continue to advance the study and look forward to sharing interim data in the coming months.”
Canadian Natural Resources Ltd. (TSX: CNQ)Canada's largest oil and gas producer surpassed expectations for first-quarter profit on the back of higher output. The company said its output grew to 1.64 million barrels of oil equivalent per day (boepd) in the three months ended March 31, from 1.58 million boepd a year earlier. The Calgary, Alberta-based company posted an adjusted profit of C$1.17 per share for the three months ended March 31.
Elevate Service Group Inc. (TSXV: SERV) announce that it has completed the previously-announced acquisition (the "Acquisition") of Taylor Freezers Inc. (dba "TFI Food Equipment Solutions") ("TFI"). The Acquisition was completed on May 6, 2026.
Following completion of the Acquisition, Elevate has added over 60 field equipment technicians, exclusive equipment distribution rights for Taylor, Henny Penny and Franke Coffee Systems, and trusted relationships with thousands of customer locations operated by McDonald's, Tim Hortons, Circle K, Loblaws, Dairy Queen, KFC, and other leading Canadian foodservice and retail brands. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296370
Eloro Resources Ltd. (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM)announce the commencement of its expansion drilling program, which is focused on upgrading and expanding higher grade Silver-Tin (Ag-Sn)-Polymetallic mineralization at its 100% owned Iska Iska Project in Southern Bolivia. Major Drilling Group International Inc. is in the process of mobilizing two diamond drill rigs to the Iska Iska Project, with a third drill expected to be added in the next three months.
The drilling campaign comprises 40,000m of diamond drilling in approximately 75 holes, following the Company's recent definition drilling program that intersected mineralization over a strike length of approximately 1.4 kilometres. Initially, 40 holes totalling 18,250m will be drilled and then it will be followed up by approximately 45 holes totalling 21,750m.
Tom Larsen, CEO of Eloro, commented: "We are excited to be commencing our expansion drilling program, a major milestone in advancing the Iska Iska Project, after the release of the successful Updated MRE in late April. The next phase of drilling is an opportunity to add additional Indicated Resources to, and further support, our planned PEA."
Mr. Larsen continued: "This program is the continuation of exploration efforts leading to the highly prospective target areas developed by the exploration work between 2020-2025. In addition, our exploration team has identified compelling targets at other prospective areas such as Central, Porco, Huayra Kasa East, San Juan and Mina 2.”
Focus Graphite Inc. (TSXV: FMS) (OTCQB: FCSMF) (FSE: FKC0) a Canadian developer of high-grade flake graphite deposits and advanced graphite materials for battery, defence, and industrial applications, is pleased to announce its upgraded mineral resource estimate ("MRE") on its 100%-owned Lac Tetepisca Project (the "Project") in Quebec. The MRE was completed pursuant to the requirements of National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
IOS Geosciences Inc. ("IOS"), a leading Quebec-based geological consulting firm was retained to produce a mineral resource estimate update and prepare a technical report (the "Technical Report"). The Technical Report will contain the full results of the Company's drill program and a mineral resource estimation update. Pursuant to NI 43-101, the Company will file the Technical Report within forty-five (45) days of the date hereof on the Company's SEDAR+ profile at http://www.sedarplus.ca.
Honey Badger Silver Inc. (TSXV: TUF) (OTCQB: HBEIF) (FSE: 1QA) (Tradegate: 1QA) highlight emerging evidence of the germanium potential at its recently acquired Prairie Creek ("PC") Silver Project in the Northwest Territories.
The PC Silver Project hosts a historic resource estimate of 9.8 Mt of Measured & Indicated Resources, grading 139 g/t silver, 9.7% zinc and 8.8% lead for a total of 240 Mozs of AgEq (silver equivalent) at a silver equivalent grade of 766 g/t plus 6.4 Mt of Inferred Resources grading 150 g/t silver, 12.9% zinc, and 6.7% lead, hosting 167 Mozs of AgEq at a silver equivalent grade of 813 g/t.(1)
Recent work led by Professor Dan Gregory and his research team at the University of Toronto, Canada, has demonstrated the excellent germanium potential of the Prairie Creek deposit. Early-stage whole-rock assay results have returned exceptional values of up to 316 ppm germanium within the Stratabound Massive Sulfide (SMS) zone at the PC Silver Project underscoring the potential for meaningful germanium enrichment within the broader mineralized system.(2,3) The SMS zone comprises around 10-15% of the known total tonnage at Prairie Creek.
Andrew Jedemann, Vice President of Exploration at Honey Badger Silver, who will be assisting Dr. Gregory and his team with the ongoing research efforts on site commented: "We are very encouraged by the early results coming from the University of Toronto team. The recognition of germanium potential at Prairie Creek adds a compelling new dimension to an already high-quality silver-rich polymetallic system. With newly developed analytical methods and strong academic collaboration, we believe there is a real opportunity to create additional value at Prairie Creek from this ongoing partnership. Based on readily available public sources, the price of germanium is high at over US$8,000/kg, double last year's price, and it appears to be trending higher. Although our evaluation is very preliminary, it's conceivable that germanium could eventually provide a material amount of by-product revenue at PC and also attract development funding because it is a highly desirable critical mineral.” To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296216
HYTN Innovations Inc. (CSE: HYTN, FSE: 85W0, OTC PINK: HYTNF) a pharmaceutical manufacturer specializing in cannabis, is pleased to announce the appointment of Mr. Fabian Monaco to its Board of Directors, effective immediately.
Mr. Monaco is an accomplished technology entrepreneur, investor, and operator with a proven history of building and scaling high-growth businesses. He brings extensive experience across venture capital, private equity, and public markets, with a focus on software, fintech, and platformbased companies. Mr. Monaco is the owner of Giumar Capital Inc., a boutique investment banking and advisory practice. He is also the co-founder and former Chief Executive Officer of Gage Growth Corp., which was acquired by TerrAscend Corp. for over $500 million in 2022. Under his leadership,
Kane Biotech Inc. (TSXV: KNE) announces its intention to undertake a non-brokered private placement offering (the “Offering”) of up to 20,000,000 units of the Company (“Units”) at a price of $0.05 per Unit for gross proceeds of up to $1,000,000. Each Unit shall be comprised of one common share of the Company (a “Share”) and one Share purchase warrant (a “Warrant”). Each full Warrant shall entitle the holder thereof to purchase one additional Share of the Company for a period of 18 months at an exercise price of $0.06 per Share.
After a period of four months from the closing date of the Offering, in the event that the Shares traded on the TSX Venture Exchange (the “TSXV”) have a closing price at or exceeding $0.09 per Share for five (5) consecutive trading days, the Company reserves the right to call the Warrants, at their exercise price of $0.06 per Warrant. If the Company wishes to call the Warrants, the Company must provide written notice to the holders of the Warrants that it is calling the Warrants. Investors will have thirty (30) days from the date of such notice to exercise the Warrants and, in the event that any Warrants are not exercised, such Warrants shall be cancelled.
The net proceeds of the Offering will be used for working capital and general corporate purposes. Certain insiders of Kane Biotech may participate in the Offering. Closing of the Offering is expected to take place in the coming days.
NevGold Corp. (TSXV: NAU | OTCQX: NAUFF | FRA: 5E50) closes one of the most catalyst-dense six-week stretches in its corporate history -- upsized brokered financing, 1.11% antimony drill hits, up to 99% gold recovery metallurgy, and a maiden antimony-gold Mineral Resource Estimate now targeted for Q2 2026
NEW YORK, May 6, 2026 /CNW/ -- North American gold producers are running into one of the most favourable commodity-and-policy overlays of the past two decades. Gold is trading at or near record highs. Antimony, a U.S.-designated Critical Mineral with 100% U.S. import reliance, is the subject of unprecedented federal procurement attention after China's December 2024 export restrictions on the United States -- restrictions that were partially suspended in November 2025, but which left licensing controls and end-use scrutiny in place and continue to expose U.S. buyers to renewed disruption. And the short list of publicly traded juniors with advanced-stage, permitted, near-surface U.S. projects targeting either metal -- let alone both -- is, in practice, quite short.
Scorpio Gold Corp.(TSXV: SGN) (OTCQB: SRCRF) (FSE: RY9)announce results from two step-out holes of the Phase Two drill program at the Manhattan District Project ("Manhattan"), Nevada, USA: 26MN-069 and 26MN-072. Scorpio Gold has drilled 79 drill holes to date from its Phase Two diamond drilling program, 25MN-011 through 25MN-045, 26MN-046 through 26MN-089, for a grand total of 23,065 m. With the results herein, Scorpio Gold has reported assays on 60 of these (25MN-011 through 25MN-045 and 26MN-046 through 26MN-069 and 26MN-072), totalling 19,694 m, and assays are pending from 19 holes (26MN-071 and 26MN-073 through 26MN-089), totalling 3,371 m. The pending results will be reported as they become available.
"As we continue to build momentum at Zanzibar, we are now seeing similarly strong results emerging from Black Mammoth, where all four drill holes completed to date have intersected broad intervals of gold mineralization in an area that had never previously been drilled. What is particularly encouraging is that much of this mineralization is hosted within the volcanics of the Manhattan Caldera - similar to the setting at Round Mountain, where broad zones of gold mineralization occur within volcanic units.
We believe this is particularly significant because it opens the potential for much larger zones of mineralization within the caldera environment, where both the volcanic units and associated vein systems are carrying gold. Historically, these volcanics were not a primary mining focus in the Manhattan District, and the widths and continuity we are now seeing at Black Mammoth suggest the potential for a much broader mineralized system than previously recognized. Alongside our continued success at Zanzibar, these results reinforce our view that multiple growth fronts are emerging across the Manhattan District, with additional drilling and pending assays continuing to demonstrate the district-scale upside potential at Manhattan," said Harrison Pokrandt, VP Exploration for Scorpio Gold. To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296405
Tantalus Systems (TSX: GRID) (OTCQX: TGMPF) a technology company dedicated to helping utilities modernize their distribution grids by harnessing the power of data, is pleased to announce its financial and operating results for the three-month period ended March 31, 2026.
"Thanks to our team's hard work and their continued collaboration with our customers, Tantalus delivered a new milestone for revenue generated in a quarter to commence 2026," said Peter Londa, President & CEO of Tantalus. "While we continue to build momentum, we are mindful of the increasing economic and geopolitical uncertainty that may influence near-term decisions within the utility industry. Our data-centric approach is resonating with utilities as we seek to provide a flexible, cost-effective path to grid modernization, and we will continue to work closely with our customers to help them resolve mission-critical challenges across their respective distribution grids.” To view the source version of this press release, please visit https://www.newsfilecorp.com/release/296319
VIOR GOLD CORPORATION INC. (TSXV: VIO, OTCQB: VIORF, FRA: VL5) report additional results from its 20,000-metre ongoing drill program on its 100%-owned Ligneris Project located 55 kilometers northwest of the town of Amos, Abitibi region, Quebec.
Drillhole LI-26-010-EXT, drilled 50 meters southeast of drillhole LI-26-005-EXT (5.64 g/t Au over 4.0 meters; see news release dated March 17, 2026) intersected 5.45 g/t Au over 3.0 meters including 14.8 g/t Au over 1.0 meters. This interval confirms high-grade gold mineralization continuity below 650 meters vertically. It is hosted in a strongly altered rhyolite characterized primarily by sericite and local patchy to pervasive silica with traces to 2% pyrite. Moreover, drillhole LI-26-010-EXT intersected a broad interval of low-grade gold mineralization that returned 0.79 g/t Au over 40.3 metersincluding 1.19 g/t Au over 15.0 meters at 580 meters vertical depth.
Drillhole LI-26-012 collared 430 meters northeast of hole LI-26-002 (35.2 g/t Au over 3.0 meters; see news release dated March 17, 2026) returned values of 12.8 g/t Au over 2.0 meters including 22.3 g/t Au over 0.5 meters. https://www.vior.ca
COMPANY EARNINGS Altus Group Ltd: Expected Q1 earnings of 38 Canadian cents per share Aritzia Inc: Expected Q4 earnings of C$1.03 per share Baytex Energy Corp: Expected Q1 earnings of 1 Canadian cent per share BCE Inc: Expected Q1 earnings of 58 Canadian cents per share Canadian Natural Resources Ltd: Expected Q1 earnings of C$1.01 per share CES Energy Solutions Corp: Expected Q1 earnings of 24 Canadian cents per share Definity Financial Corp: Expected Q1 earnings of 85 Canadian cents per share Enerflex Ltd: Expected Q1 earnings of 21 cents per share IGM Financial Inc: Expected Q1 earnings of C$1.18 per share Jamieson Wellness Inc: Expected Q1 earnings of 13 Canadian cents per share Kelt Exploration Ltd: Expected Q1 earnings of 6 Canadian cents per share Maple Leaf Foods Inc: Expected Q1 earnings of 30 Canadian cents per share Mda Space Ltd: Expected Q1 earnings of 31 Canadian cents per share Nfi Group Inc: Expected Q1 earnings of 21 cents per share Open Text Corp: Expected Q3 earnings of 92 cents per share Pembina Pipeline Corp: Expected Q1 earnings of 73 Canadian cents per share Premium Brands Holdings Corp: Expected Q1 earnings of 76 Canadian cents per share South Bow Corp: Expected Q1 earnings of 45 cents per share Trisura Group Ltd: Expected Q1 earnings of 77 Canadian cents per share Wheaton Precious Metals Corp: Expected Q1 earnings of $1.24 per share
World Markets
Euro STOXX 50 futures were up 3 points to 6,016, FTSE futures added 6.5 points to 10,451.5, German DAX futures dropped 3 points to 25,048, by 0430 GMT.
Asian stocks soared to record highs while the U.S. dollar slipped as traders embraced the prospect of a peace deal in the Middle East, although the fate of the critical Strait of Hormuz remains unresolved.
Oil prices rose after rebounding from the previous day's sharp losses, as investors weighed the prospects of a Middle East peace deal succeeding.
The S&P 500 and the Nasdaq pushed to record-high closes on Wednesday, buoyed by signs of a resolution in the Middle East conflict, while strong earnings from Advanced Micro Devices sparked a rally in chipmakers and other AI-related stocks.
The dollar remained on the defensive as hopes for a de-escalation in the Iran-U.S. war supported oil-exposed currencies, while Tokyo resumed its verbal intervention in support of the yen keeping speculators cautious.
U.S. Treasury yields dropped on Wednesday as oil prices plunged on reports that the United States and Iran were closing in on an agreement for a one-page memorandum to end the war in the Gulf region.
Gold prices held largely steady near a one-week high as investors remained on the sidelines awaiting further details on a potential U.S.-Iran peace deal.
S&P 500 Index Mini Futures: 7,392.50; up 0.04%; 3 points DJIA Mini Futures: 50,104; up 0.14%; 70 points Nikkei: 62,816.36; up 5.55%; 3303.24 points MSCI Asia, Ex-JP: 883.60; up 1.28%; 11.16 points EUR/USD: $1.1752; up 0.03%; 0.0004 point GBP/USD: $1.3599; up 0.04%; 0.0006 point USD/JPY: 156.38 yen; down 0.01%; 0.02 point Spot Gold: $4,698.09; up 0.19%; $9.04 U.S. Crude: $95.78; up 0.74%; $0.70 Brent Crude: $101.94; up 0.66%; $0.67 10-Yr U.S. Treasury Yield: 4.3520%; down 0.002 point 10-Yr Bund Yield: 2.9940%; down 0.001 point
S&P 500 and Nasdaq futures are near all-time highs as oil prices retreated further on hopes of a U.S.-Iran peace deal that could potentially normalize crude supplies through the Strait of Hormuz.
Federal Reserve officials said on Wednesday the ongoing U.S.-backed war with Iran is raising the risk of a sustained inflation shock, with continued high oil prices and developing concerns about problems with global supply chains.
Investors will watch out for comments from Federal Reserve’s Neel Kashkari, Beth Hammack and John Williams. The weekly jobless claims report is also on the radar.
Albemarle Corp: The world's largest lithium producer posted a quarterly profit on Wednesday more than double Wall Street's expectations due to rising prices and sales of the battery metal. The results reflect rising demand for lithium from the electric vehicle and energy storage sectors, especially given the impact of the Iran conflict on fuel prices. Lithium supply, meanwhile, has tightened due to the closure of a key mine in China, an export ban in Zimbabwe, and dwindling lithium carbonate stocks. The company, which operates across the Americas, Australia, Asia and Europe, posted a first-quarter net profit of $319.1 million, or $2.34 per share, compared to $49.3 million, or break-even per share, in the year-ago quarter.
Arm Holdings Plc: The company forecast first-quarter revenue above Wall Street expectations on Wednesday, benefiting from higher adoption of its chip technology as tech companies spend heavily on artificial intelligence compute. The company expects quarterly revenue of $1.26 billion, compared with analysts' estimates of $1.25 billion, according to data compiled by LSEG. Arm's fourth-quarter revenue came in at $1.49 billion, beating estimates of $1.47 billion. Royalty revenue was $671 million, compared with expectations of $697.1 million. Licensing and other revenue was $819 million, while analysts had expected $774 million. "We are very bullish about this data center demand," Arm CEO Rene Haas said in an interview, adding the current quarter includes a "pretty healthy uptick in terms of royalties associated with the data center."
Blue Owl Capital Inc: Two Blue Owl Capital publicly traded private credit funds cut their dividends on Wednesday as they reported a decrease in net asset value per share in the first quarter, a move they attributed to higher borrowing costs. Blue Owl Capital Corp said in a filing it was reducing its dividend to 31 cents per share from 36 cents per share. Blue Owl Technology Finance Corp declared a 35 cent per share dividend versus 40 cents per share in the fourth quarter, and declared an additional five cent per share special dividend in both quarters. The two funds bought back a combined $85 million of their own stock in the first quarter, they said.
Carlyle Group Inc: The global investment firm posted a 28.2% drop in first-quarter profit on Thursday, although its secondaries businesses brought in inflows of fresh capital. Distributable earnings, or profits that can be returned to shareholders, came in at $327 million, or 89 cents per share, down from $455.4 million, or $1.14 per share, a year earlier. Market volatility was high in the first three months of the year as the U.S. and Israel engaged in war with Iran, sending up the price of oil and stoking inflation. While fee-related earnings fell 3.4%, fund management fees rose 3.6%. Transaction and portfolio advisory fees - which it earns from arranging capital markets deals for portfolio companies and for clients — slumped 30% to $54.1 million.
Cheniere Energy Inc: The company swung to a loss in the first quarter from year-ago profit, hurt by billions of dollars in losses tied to LNG-linked derivative contracts as geopolitical tensions and volatile global gas prices rattled energy markets. The company said results were mainly hurt by a $4.8 billion unfavorable change in the value of derivative agreements linked to its long-term LNG contracts. Volatility in global liquefied natural gas markets following the U.S.-Israeli war on Iran is affecting energy companies, even as demand for U.S. LNG exports remains strong. The Houston, Texas-based company posted a net loss of $3.5 billion for the quarter ended March 31, compared with a profit of $353 million last year.
Coherent Corp: The company forecast fourth-quarter revenue above market estimates on Wednesday, banking on strong demand for its AI data center components to drive growth. However, the forecast did little to reassure investors who remain cautious about demand translating into firm, near-term orders. Coherent saw "exceptionally strong demand across (the) datacenter and communications businesses," CEO Jim Anderson said in a statement. Coherent forecast fourth-quarter revenue between $1.91 billion and $2.05 billion, compared to analysts' estimates of $1.91 billion, according to data compiled by LSEG.
Fortinet Inc: The company raised its full-year forecasts on Wednesday, signaling robust demand for cybersecurity tools as businesses prioritize protection from sophisticated threats. The company saw "broad-based demand across our portfolio and geographies," said CEO Ken Xie, noting an "increasingly complex threat environment that is being intensified by AI." The cybersecurity firm expects full-year revenue to range between $7.71 billion and $7.87 billion, compared with its earlier projection of $7.50 billion to $7.70 billion. Fortinet forecast an annual adjusted profit per share in the range of $3.10 to $3.16, above its earlier forecast of $2.94 to $3.
HawkEye 360 Inc: The space analytics firm has raised $416 million in its U.S. initial public offering, the company said. The Herndon, Virginia-based firm sold 16 million shares priced at $26 apiece in the IPO, giving it a valuation of roughly $2.42 billion. It had targeted a price range of $24 to $26 per share. HawkEye will also gauge appetite for space-technology offerings, as investors await a public filing from SpaceX that could bolster confidence among peers to pursue listings and tap equity markets.
IonQ Inc: The quantum computing firm raised its annual revenue forecast on Wednesday, betting on growing demand from clients for its quantum computing platform. IonQ now expects annual revenue between $260 million and $270 million, compared with its prior expectations of $225 million to $245 million. The company reported first-quarter revenue of $64.7 million, beating analysts' average estimate of $49.7 million, according to data compiled by LSEG.
Texas Pacific Land Corp: The company reported a rise in first-quarter revenue on Wednesday, helped by higher oil and gas royalties as production volumes increased. The company generates revenue from fixed fees for land use, oil and gas royalty interests, construction material sales and water sourcing and treatment services. Texas Pacific's total first-quarter revenue stood at $236.8 million, compared with $196 million a year earlier.
Tesla Inc: The company’s China-made EV sales jumped 36% on the year in April, a sixth month of gains, as the U.S. automaker fights to hold ground against a wave of cheaper Chinese rivals. Deliveries of Model 3 and Model Y vehicles built at Tesla's Shanghai plant, including those exported to Europe and other markets, totaled 79,478 units, data from China Passenger Car Association showed. That was down 7.2% from March this year but well above April 2025 levels. The figures suggest Tesla is stabilizing in its two most important markets outside the U.S. after a bruising stretch of market share losses, though regulatory delays around its Full Self-Driving software and new Chinese EVs may limit the recovery.
ECONOMIC DATA 0730 Challenger layoffs for April: Prior 60,620 0830 Initial jobless claims: Expected 205,000; Prior 189,000 0830 Jobless claims 4-week average: Prior 207,500 0830 Continued jobless claims: Expected 1.800 mln; Prior 1.785 mln 0830 Unit labor costs preliminary for Q1: Expected 2.6%; Prior 4.4% 0830 Productivity preliminary for Q1: Expected 1.0%; Prior 1.8% 1000 Construction spending mm for March: Expected 0.2%; Prior -0.3% 1500 Consumer credit for March: Expected $12.25 bln; Prior $9.48 bln
Europe / Asia
Trump predicted a swift end to the war with Iran as Tehran considered a U.S. peace proposal that sources said would formally end the conflict while leaving unresolved key U.S. demands that Iran suspend its nuclear programme and reopen the Strait of Hormuz.
European lawmakers and governments are making good progress in negotiations to finalise a deal scrapping duties on U.S. imports but "there is still some way to go", the European Parliament's chief negotiator Bernd Lange said.
A senior Commerzbank official rejected calls by UniCredit CEO Andrea Orcel to resume merger talks, as a battle for ownership of the top German bank intensifies.
EU countries and European Parliament lawmakers agreed to watered-down landmark artificial intelligencerules, including delaying their implementation, in a move which critics say shows Europe caving to Big Tech.
Norwegian oil firm Aker BP reported a lower profit in line with expectations, and said its key offshore projects were on track to begin output in 2027 as planned.
ECONOMIC DATA (GMT) 0600 Germany Industrial Orders MM for March: Expected 1.0%; Prior 0.9% 0600 Germany Manufacturing O/P Current Price SA for March: Prior 4.2% 0600 Germany Consumer Goods SA for March: Prior 113.9 0645 France Current Account for March: Prior -1.8 bln EUR 0645 France Current Account Balance NSA for March: Prior -9.60 bln EUR 0645 France Trade Balance SA for March: Prior -5.778 bln EUR 0645 France Imports for March: Prior 57.791 bln EUR 0645 France Exports for March: Prior 52.013 bln EUR 0730 Germany HCOB Construction PMI for April: Prior 48.0 0730 France HCOB Construction PMI for April: Prior 38.4 0830 United Kingdom S&P Global Construction PMI for April: Expected 45.6; Prior 45.6 0830 United Kingdom S&P Global PMI MSC Composite Output for April: Prior 49.9
