Stock futures are little changed after Nasdaq Composite hits all-time high: Live updates – CNBC

Lowe’s shares rose more than 2% in premarket trading after the home improvement retailer reported better-than-expected earnings and revenue of $3.06 a share on sales of $21.36 billion. Analysts for LSEG had expected earnings of $2.94 a share on sales of $21.12 billion.

Same-store sales, a key indicator for retailers, fell 4.1 percent, below the consensus forecast of a 5.5 percent decline.

— Fred Imbert

Shares in Chinese electric car maker Li Auto fell as much as 25% on Tuesday after the EV maker’s announcement. First quarter performance was weak.

The stock posted its biggest one-day decline since March 2022 and the biggest decline in the Hang Seng Index.

Li Auto reported sales of 25.6 billion yuan ($3.5 billion), down 38.6% compared to the fourth quarter of 2023, but up 36.4% year-on-year. Sales were lower than the average analyst estimate of 26.73 billion yuan.

Vehicle deliveries in the first quarter also fell to 80,400 from 131,805 in the final quarter of 2023.

The Reserve Bank of Australia considered raising interest rates at its May meeting, minutes from the central bank’s meeting show.

Commissioners noted that Australia’s inflation rate had fallen less than expected, and that international economic growth and inflation had exceeded expectations.

RBA Board members also agreed that economic information since the April meeting increased the risk that inflation would remain above target for an extended period.

However, the RBA kept the cash rate unchanged at 4.35%.

— Lim Huijie

South Korean semiconductor giant Samsung Electronics has appointed Yong Hyun-jun as the new head of its semiconductor division, Reuters reported on Tuesday.

According to the report, Samsung said the move was a “pre-emptive measure to strengthen its future competitiveness.”

Jun is the CEO of Samsung SDI, Samsung’s battery division.

— Lim Huijie, Reuters

The closely watched VanEck Semiconductor ETF (SMH) soared more than 2% on Monday, closing at a record high of 235.00.

The ETF is backed by Nvidia, which rose about 2.5% as Wall Street anticipated the semiconductor giant’s earnings report Wednesday afternoon.

Ahead of the earnings announcement, Baird reiterated his recommendation to buy the company’s stock and raised his price target from $1,050 to $1,200. Meanwhile, tech investor Dan Niles said Nvidia stock is undervalued ahead of the earnings release.

It was also a solid day for fellow SMH constituents Broadcom, which rose 1.3%, and Qualcomm, which rose 2%. Micron Technology closed up nearly 3% on Monday.

–Darla Mercado, Gina Francola

Some of the stocks that made notable moves after the close are:

• Palo Alto Networks — Stock price fell 8.5%. The fiscal third quarter beat expectations on both counts, but guidance for the quarter was broadly in line with expectations from analysts surveyed by his LSEG.
• Peloton — Shares fell 2.1% after the fitness company announced a refinancing. The company is issuing $275 million in convertible notes through a private placement.
• Keysight Technologies — Shares fell 2.7% following weak outlook for the current quarter. The company said it expects non-GAAP earnings per share to be in the range of $1.30 to $1.36 and revenue in the range of $1.18 billion to $1.2 billion. Analysts polled by FactSet had expected earnings of $1.45 per share and revenue of $1.21 billion.

— Alex Harring

Cryptocurrency prices rebounded on Monday amid late-game optimism over the U.S. Securities and Exchange Commission’s decision on the Spot Ether exchange-traded fund (ETF) filing expected this week. The previous consensus was that the fund was unlikely to be approved.

Ether led the cryptocurrency market, surging around 15% to around $3,500, according to Coin Metrics. Bitcoin rose more than 4%, briefly reaching $70,000 for the first time since April.

In regular trading, crypto stocks rode the wave, with Coinbase and MicroStrategy rising 8% and 9%, respectively. Miners Marathon Digital and Clean Spark each advanced 14%.

— Tanaya Machel

Stock futures were little changed after 6pm ET.

Nasdaq 100 futures were down just about 0.1%, and S&P 500 futures and Dow futures both had modest moves.

— Alex Harring