As the US markets gear up for another trading session, pre-market movements suggest a mixed sentiment across indices. The S&P 500 (ES) is down 0.3%, Nasdaq 100 (NQ) is lower by 0.2%, and the Russell 2000 (RTY) is experiencing a larger decline of 0.4%.

Key Market Movers:

Chip Industry Developments

The semiconductor sector is facing potential headwinds as Lutnick is reportedly considering withholding promised grants under the CHIPS Act unless semiconductor companies significantly increase their US investments. This move could have significant implications for the industry’s expansion plans.

Notable Stock Movements:

• Johnson & Johnson ($JNJ) -3.5%
  JNJ shares are under pressure after a US judge rejected the company’s $10 billion bankruptcy proposal aimed at settling lawsuits. This legal setback raises uncertainties around JNJ’s financial obligations and future litigation strategies.
• Boeing ($BA) -0.5%
  Boeing is in focus following reports that it has slowed the production rate of its 737 Max jets to 31 per month, down from the targeted 38. However, the stock trimmed some of its pre-market losses after the company refuted these claims. Investors will likely watch for further clarifications from Boeing on its production targets.
• PVH Corp. ($PVH) +16%
  PVH is soaring in pre-market trading after delivering strong earnings results. The company posted better-than-expected top and bottom-line figures and issued a much better-than-expected full-year profit outlook, boosting investor confidence.
• Intel ($INTC) -1%
  Intel is seeing a slight dip in pre-market trading following its announcement to spin off non-core assets. While the move aligns with the company’s restructuring efforts, investors may be concerned about the impact on Intel’s long-term growth strategy.
• Progress Software ($PRGS) +5.5%
  PRGS is rallying after exceeding earnings and revenue expectations. The company also provided a strong next-quarter outlook and raised its full-year guidance, signaling robust business momentum.
• Live Nation ($LYV) -0.5%
  LYV is facing slight pressure after former President Donald Trump signed an executive order targeting ticket scalping. The order aims to crack down on unfair pricing practices, potentially affecting Live Nation’s revenue model.
• Warner Bros. Discovery ($WBD) +1%
  WBD is gaining after adding Anton Levy to its board, following pressure from activist investor Sessa Capital. Investors are hopeful that this move could drive positive strategic changes within the company.
• XPeng ($XPEV) +4%
  XPeng is surging in pre-market trading after reporting record-breaking deliveries. The company delivered 33,205 smart EVs in March, marking a staggering 268% year-over-year increase and surpassing the 30,000 delivery mark for the fifth consecutive month. This strong performance highlights XPeng’s growing presence in the electric vehicle market.

Overall, today’s pre-market action reflects a mix of earnings-driven optimism and industry-specific concerns. Investors will keep an eye on corporate developments, macroeconomic trends, and potential policy changes as the trading session unfolds.