US Stock Market Pre-Market Highlights | US April Core PCE Hits Highest Level in Nearly Two and a Half Years; Consecutive Hawkish Remarks from Federal Reserve Officials

Gelonghui May 28｜ 1. The three major US stock index futures edged down slightly: Nasdaq futures fell by 0.1%, S&P 500 index futures declined by 0.05%, and Dow Jones futures dropped by 0.15%. 2. Major European stock indices fell collectively: Germany's DAX index was down 0.65%, the UK's FTSE 100 index declined 0.94%, France's CAC index decreased 0.54%, and the Euro Stoxx 50 index slipped 0.42%. 3. The US April Core PCE Price Index year-on-year growth accelerated to 3.3%, the highest level since November 2023, in line with market expectations; month-on-month growth was 0.2%, expected 0.3%, previous 0.3%. 4. Revised annualized quarterly growth of US Q1 real GDP was 1.6%, expected 2.0%, previous 2.0%. 5. US initial jobless claims for the week ending May 23 reached 215,000, expected 211,000, previous revised from 209,000 to 210,000. 6. Federal Reserve official Goolsbee: Expectations of productivity improvement may push up inflation, forcing the Fed and other central banks to raise interest rates. 7. Early SpaceX investor: Merger with Tesla is "only a matter of time", Musk will seek to consolidate control over his companies. 8. Meta launched a paid AI chatbot service, with monthly fees starting at $7.99. 9. SanDisk CTO: The global AI race depends on memory, not computing power, with HBF products expected to launch next year. 10. Trump posted on social media: Government investment of $8.9 billion in Intel has appreciated to over $51 billion. 11. Dell Technologies was awarded a large US Department of Defense software contract worth about $9.7 billion over 5 years. 12. Toyota’s global sales in April fell 3.1% year-on-year to 849,300 vehicles, marking a decline for the third consecutive month. 13. US media: The Trump administration is advancing financing agreements with several drone companies, including potential candidates such as Unusual Machines. 14. Trump has again filed a $10 billion defamation lawsuit over the Wall Street Journal's Epstein-related report. 15. Futu and Longbridge are cleaning up accounts opened with false documentation, as well as zero-asset and empty accounts.Earnings Announcements:1. Salesforce Q1 revenue grew 13% year-on-year to $11.13 billion, adjusted earnings per share of $3.88, both exceeding expectations; AI products have nearly $3.4 billion in annualized recurring revenue.2. HP Q2 sales grew 9.2% year-on-year to $14.4 billion, but the company lowered its full-year adjusted profit forecast in response to rising memory costs.3. Marvell Technology Q1 revenue reached a record $2.418 billion, net profit was $34.5 million; boosted its FY2028 revenue target due to strong AI-related orders.4. Synopsys Q2 revenue increased 42.5% year-on-year to $2.28 billion, with design automation revenue soaring 62% over last year; raised full-year performance guidance.5. Snowflake Q1 revenue was $1.39 billion, adjusted earnings per share were $0.39, both exceeding expectations; committed to purchasing $6 billion in services and technology from AWS over five years.6. XPeng Q1 revenue fell 17.6% year-on-year to 13 billion yuan, with a net loss of 1.78 billion yuan; Q2 deliveries expected to reach 100,000–106,000 vehicles.7. Futu Q1 revenue grew 24.7% year-on-year to HK$5.856 billion, slightly under expectations; net profit fell 61.2% year-on-year to HK$831 million. The planned regulatory fines and confiscations totaling about 1.85 billion yuan have been provisioned for in the financial report.US stock trading session event to watch:22:00 US April New Home Sales (annualized rate)