US futures present mixed signals ahead of the open, with modest divergence across major indices. The S&P 500 futures trade marginally lower at $750.46 (-0.02%) while Nasdaq futures show slight strength at 26675 (+0.07%) and Dow futures lead gains at 50644 (+0.36%). The VIX uptick to 16.63 (+2.09%) reflects emerging caution following overnight geopolitical tensions in the Hormuz Strait. Key macro crosscurrents include April's hotter-than-expected Fed inflation gauge cementing the steady rate outlook, while WTI crude surged 2.21% to $90.64 on Middle East supply concerns. Gold's retreat to $4430.80 (-1.13%) and Bitcoin's decline to $73408 (-1.24%) suggest risk-off positioning despite equity resilience.

S&P 500 futures hover near unchanged at $750.46, testing support around the $748-750 zone. Nasdaq outperformance at 26675 reflects continued AI momentum, while Dow strength at 50644 benefits from value rotation. Watch for initial resistance at S&P $752-754 and support at $745-747.

META leads mega-cap gains at $635.25 (+3.74%) on AI product developments, while AMZN advances 2.47% to $271.85. TSLA climbs 1.56% to $440.36. Conversely, NVDA retreats 1.05% to $212.60 on profit-taking, with AMD down 1.66% to $495.54. JPM weakness at $299.28 (-2.43%) weighs on financials.

Communication services and consumer discretionary lead pre-market strength while semiconductors and financials lag. The AI theme remains intact despite chip stock consolidation. 📰 Key Catalysts Today Fed inflation data analysis continues, while Snowflake earnings momentum and Trade Desk developments merit attention.

Escalating Hormuz tensions could pressure markets, while rate hike speculation may weigh on growth stocks if inflation concerns intensify.

Escalating Hormuz tensions could pressure markets, while rate hike speculation may weigh on growth stocks if inflation concerns intensify.