Dow, S&P 500, Nasdaq futures waver as Wall Street shrugs off Nvidia earnings

Image source: Lummi

US stock futures bounced around after Nvidia (NVDA) earnings failed to wow investors and crack show int he global economy.

Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F) fell 0.1%, and futures attached to the tech-heavy Nasdaq 100 (NQ=F) all vacillated from green to red and back early on Thursday.

Nvidia’s earnings results landed after the bell, beating expectations on the top and bottom lines. The AI giant also issued an upbeat forecast for chip sales, but investors had hoped for an even stronger signal of demand. Nvidia shares slipped roughly 1% after hours.

Shortly after Nvidia results landed, SpaceX filed its S-1 registration statement with the SEC. The document offered a rare public view into the company’s financials ahead of its road show with investors planned for June.

Earlier in the day, stocks jumped and oil fell as President Trump suggested that resolution with Iran could be around the corner.

Earnings season continues to wrap up this week, with Walmart (WMT), Ross Stores (ROST), Workday (WDAY), Zoom Communications (ZM) set to report results Thursday. Yahoo Finance reports.

🧬 Jupiter Neurosciences Announces Pricing of $2.0 Million Registered Direct Offering. Stock surges in pre-market

Jupiter, FL, May 20, 2026 (GLOBE NEWSWIRE) -- Jupiter Neurosciences, Inc. (NASDAQ: JUNS) ("Jupiter" or the "Company"), a clinical-stage biopharmaceutical company focused on central nervous system disorders and neuroinflammation, today announced it has entered into a securities purchase agreement for the purchase and sale of 7,142,858 shares of common stock in a registered direct offering.

The gross proceeds of the offering are approximately $2.0 million (the "Offering").

D. Boral Capital LLC is acting as the exclusive placement agent for the Offering.

The closing of the Offering is expected to occur on or about May 21, 2026, subject to the satisfaction of customary closing conditions.

The shares of common stock are being offered by the Company pursuant to an effective shelf registration statement on Form S-3 (Registration No. 333-295085), which was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on April 24, 2026. Biospace reports.

⚛️ Xanadu Jumps 20% After Quantum Selloff, Filing Remains Over XNDU

Xanadu Quantum Technologies shares surged on Nasdaq Wednesday, with the stock rebounding after a tough May. The Class B shares traded between $11.70 and $14.68, and were recently quoted at $14.13, up $2.39, or 20.4%.

XNDU has turned into a kind of bellwether for how the public market is taking to early-stage quantum stocks—lots of technology promises, not much revenue yet, and a share structure still working itself out after a blank-cheque merger. A SPAC, or special purpose acquisition company, is a listed shell company for taking another firm public via merger.

Stocks rallied Wednesday, with the Nasdaq Composite up 1.6%, the S&P 500 climbing 1.1% and the Dow up 1.3%. Investors rotated back into growth names as oil dropped.

Other quantum stocks moved up as well, pointing to a broader rally beyond a single company. IonQ was up around 8.3%. D-Wave Quantum picked up 6.0%. Rigetti Computing gained roughly 5.7%, according to market data. Techstock reports.

📑 SpaceX Files IPO Prospectus, Offering a Peek Into its Finances

SpaceX (SPAX.PVT) has finally offered investors a public view of its internal finances, filing its S-1 IPO prospectus with the Securities and Exchange Commission ahead of its investor road show, reportedly planned for June 5.

For the three months ended March 31, 2026, the rocket company, which will trade under the ticker “SPCX” on the Nasdaq, reported revenue on a consolidated basis of $4.694 billion, a loss from operations of $1.943 billion, and adjusted EBITDA of $1.127 billion. In 2025, SpaceX generated revenue on a consolidated basis of $18.674 billion, and a loss from operations of $2.589 billion and adjusted EBITDA of $6.584 billion.

SpaceX said its Space and Connectivity segments contributed the “substantial majority of consolidated revenue in the three months ended March 31, 2026, and the year ended December 31, 2025." YahooFinance reports.

💄 Why e.l.f. Beauty Shares Are Trading Higher By 10%

Shares of elf Beauty Inc rose sharply in pre-market trading after the company reported better-than-expected fourth-quarter financial results.

e.l.f. Beauty reported quarterly earnings of 32 cents per share, which beat the analyst consensus estimate of 29 cents, according to Benzinga Pro data. Quarterly revenue came in at $449.29 million, which beat the Street estimate of $422.93 million and was a 35.07% increase from $332.645 million in the same period last year.

Elf Beauty shares jumped 10% to $55.80 in pre-market trading. Benzinga reports.

💾 Intel Stock Rebounds as Chip Optimism Builds on Wall Street

Intel shares jumped 7.4% to $118.96 in recent trading, pulling higher with other chip stocks as investors moved back into artificial-intelligence names around Nvidia’s results. That values Intel at roughly $604.7 billion.

Intel’s rally now has more riding on it than just a turnaround. It’s looking more and more like it depends on whether Wall Street thinks CPUs—the main chips for servers and PCs—will get a boost as AI workloads start moving from training models to actually using them.

Chip stocks rallied again. The iShares Semiconductor ETF jumped 4.7%. Advanced Micro Devices climbed 8.1% and Nvidia picked up 1.3% in the latest session. The Invesco QQQ Trust, which tracks the Nasdaq 100, was up 1.6%. Techstock reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM ET). Stock Analysis reports.

1) WHLR: Wheeler Real Estate Investment Trust, Inc.

Total gain: +1.578 (169.17%)

2) ATPC: Agape ATP Corporation

Total gain: +1.480 (70.81%)

3) LIMN: Liminatus Pharma, Inc.

Total gain: +0.0755 (40.20%)

4) JUNS: Jupiter Neurosciences, Inc.

Total gain: +0.0539 (26.29%)

5) ILLR: Triller Group Inc.

Total gain: +0.0553 (27.23%)

The closing price of the top three market percent gainers trading near or above $3 on May 20.

(All pricing and percent gains are based on regular market trading hours from 9:30 AM to 4:00 PM ET)
Stock Analysis reports.

1) VIDA: VIDA Global Inc.

Total gain: +1.860 (81.22%)

The company announced today the closing of its initial public offering of an aggregate of 3,750,000 shares of its Class A common stock at a public offering price of $4.00 per share. In addition, Vida has granted the underwriters a 30-day option to purchase up to an additional 562,500 shares of its Class A common stock at the initial public offering price, less underwriting discounts and commissions.

The shares of Class A common stock began trading on the NYSE American LLC and NYSE Texas, Inc. on May 15, 2026 under the symbol "VIDA." PRNewswire reports.

2) MWC: Micware Co., Ltd.

Total gain: +2.43 (51.48%)

The stock appeared to be moving on no notable news.

3) MLGO: MicroAlgo Inc.

Total gain: +1.53 (39.95%)

The company announced today that it has proposed a quantum image edge extraction algorithm for noisy images, which is an innovative achievement of the deep integration of quantum computing and digital image processing.

The algorithm takes quantum state encoding as its core, mapping the grayscale and position information of image pixels to quantum superposition states, thereby realizing parallel storage and processing of massive information. PRNewswire reports.

(Estimate and Actual numbers represent Earnings Per Share in US Dollars)

FLX
BingEx
Q1 2026

Before Market Open
Estimate: N/A
Actual: N/A

DECK
Deckers Outdoor
Q4 2026

After Market Close
Estimate: 0.820
Actual: N/A

NIO
NIO
Q1 2026

Before Market Open
Estimate: -0.240
Actual: N/A

“You will never learn anything new until you admit you’re wrong.”

– Ray Dalio

Sourced in: Principles — GoodReads.