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Nasdaq, S&P, Dow futures gain on talks of U.S.-Iran peace plan. (00:14) Pentagon seems to be punishing Anthropic for going public with contract dispute – judge. (01:48) Arm (ARM) stock jumps as CEO Haas issues $15B revenue expectation for new chip. (02:43)
This is an abridged transcript.
Stock index futures are higher before the bell as the U.S. reportedly sent Iran a 15-point plan to end the war in the Middle East.
Dow Jones Industrial Average futures (INDU) rose 0.8%, S&P 500 futures (SPX) gained 0.8%, and Nasdaq 100 futures (US100:IND) advanced 1%.
The plan is said to address Iran’s ballistic missile and nuclear programs, as well as maritime routes through the Strait of Hormuz. Oil prices are also down on the news.
Crude oil is down 4% at $88. Brent crude is down 4% at $100.
In the world markets, the FTSE 100 is up 0.8% and the Dax is up 1.4%. Asian equity markets also advanced on Wednesday amid reports of a possible US-proposed ceasefire with Iran.
UBS’ Paul Donovan noted that, “Markets desperately want to believe in the positive.” “Focus on the apparent 15-point U.S. plan to end the war has received more attention than Iranian dismissals of this, or the fact that passage through the Strait of Hormuz is minimal.”
While President Donald Trump claimed that negotiations are underway to end the war, an Iranian military spokesman has suggested that the U.S. is “negotiating with itself.”
The spokesman warned, “You will see neither your investments in the region nor the former prices of energy and oil again, until you understand that stability in the region is guaranteed by the powerful hand of our armed forces.”
The Wall Street Journal is reporting that Tehran has set a high bar for ceasefire negotiations.
Iran is demanding that the U.S. shut down its bases in the Gulf region, pay reparations for its attacks and lift all sanctions.
It wants to collect fees from ships transiting the Strait of Hormuz, an end to Israeli strikes on Lebanese militant group Hezbollah and guarantees that the war won’t restart.
According to the report, Tehran is also seeking to keep its missile program with no negotiations to limit it.
A federal judge said the Pentagon’s move to blacklist Anthropic (ANTHRO) appears to be punishment for the AI startup going public with its contract dispute, which would be a violation of the company’s right to free speech.
The judge noted the Pentagon designating Anthropic as a supply chain risk “looks like an attempt to cripple” the company and doesn’t “really seem to be tailored to the stated national security concern.”
Anthropic (ANTHRO) sued the U.S. government after it was blacklisted over its safeguards that prevent its AI from being used for domestic surveillance or autonomous weapons. It warned that the blacklisting could reduce its 2026 revenue by “multiple billions of dollars.”
The company sought a temporary restraining order on its blacklisting while the case plays out in court. The judge said she expects to issue a ruling on Anthropic’s (ANTHRO) request in the next few days.
Arm Holdings (ARM) is up 12% in premarket action after the CEO Rene Haas projected 2031 annual revenue at more than six times its 2025 level.
Rene Haas unveiled Arm’s first in-house chip on Tuesday at an event in San Francisco, with Meta (META) as the initial customer. Arm stock closed about 1.5% lower on Tuesday following the chip announcement.
CNBC reported that Haas said Arm expects the new chip to generate roughly $15 billion in annual revenue by 2031, with total annual revenue of $25 billion and earnings per share of $9.
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Catalyst watch:
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Dana (DAN) will hold a Capital Markets Day event in New York City centered on its long‑term “Dana 2030” value‑creation strategy, targeting roughly $10B of annual sales by 2030, margin expansion, and improved free cash flow.
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Generac Holdings (GNRC) will hold its Investor Day event.
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Starbucks (SBUX) will hold its annual meeting. One of the items up for a vote is a proposal for an independent board chair by separating the roles of chair and CEO and adopting an independent chair policy.
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Varonis (VRNS) CEO Yaki Faitelson will give a keynote address at the RSA security conference.
The biggest movers for the day premarket: KB Home (KBH) -4% – Shares declined after the homebuilder reported weaker-than-expected Q1 results and issued soft guidance amid a challenging housing backdrop and heightened macro uncertainty.
Economic calendar:
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7:00 am MBA Mortgage Applications
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8:30 am Retail Inventories (Advance)
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8:30 am Wholesale Inventories (Advance)
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10:30 am EIA Petroleum Status Report