Markets are bracing for the Personal Consumption Expenditures Price Index, with economists expecting it to rise to 4.1%, well above the Federal Reserve’s 2% target. CME Group’s FedWatch tool shows traders have sharply raised the odds of a second rate hike by the Fed by the end of December. The shift has reinforced expectations for higher rates and kept pressure on richly valued technology stocks, leaving Nasdaq futures struggling to rebound while Dow futures turned lower. Micron’s after-hours earnings are expected to be strong, but analysts say the stock’s pattern of post-earnings declines may do little to ease broader valuation concerns in tech.

U.S. stock index futures diverged in early trading, with Nasdaq 100 E-minis up 0.48% as investors returned to technology shares after a sharp selloff. Chip names were in focus, with Micron Technology rising premarket as markets looked ahead to its earnings and weighed concerns about whether gains can extend after prior post-results declines. AI-chip sentiment was hit after Cerebras Systems cut its full-year profit-margin outlook in its first report since going public. A firmer dollar and rising rate expectations ahead of the PCE inflation reading weighed on commodities, pushing gold toward a two-week low while oil extended losses by more than 1%.

Robinhood said it has completed a $2 billion private offering of 0% convertible senior notes, with part of the proceeds earmarked for share repurchases and capped call transactions. Bernstein raised its forecast for Robinhood’s prediction-market revenue to $586 million in 2026, while the company also completed a $180 million acquisition of Canada-based crypto platform WonderFi. The combination has reinforced Robinhood’s positioning as a more diversified fintech platform, helping weaken its price linkage with Bitcoin and supporting the stock above $100.

Donald Trump said in a Truth Social post that retail gasoline prices have not fallen as quickly as crude oil, and he has instructed the Department of Justice to investigate energy companies. Crude oil futures fell 1.76% to $71.92 per barrel, raising the risk of policy intervention in how price declines are passed through to consumers. The directive is a sudden regulatory move aimed directly at energy pricing behavior, creating a tangible hit to profit certainty across the oil and gas value chain.

Cardano users reported losing ADA and NFTs after an attacker gained access to private keys tied to the SecondFi wallet. The incident stems from compromised private keys, allowing the attacker to drain affected wallets.

Buying property with cryptocurrency in Italy is legal, but the purchase price must be stated in euros. The main obstacle is complying with anti-money-laundering requirements, including proving the origin of funds to a notary. Notaries can refuse to complete the deed if they cannot verify the lawful source of the crypto or consider the risk too high.

The U.S. House of Representatives has approved the 21st Century ROAD to Housing Act, sending legislation to President Donald Trump that would bar the Federal Reserve from issuing a central bank digital currency (CBDC) through 2030. The measure folds the CBDC restriction into a sweeping housing package. The bill now heads to Trump for his signature.

Norwegian Cruise Line (NCLH) sharply lowered its fiscal 2026 adjusted EPS guidance to $1.45–$1.79 on May 4, citing Middle East tensions that lifted expected annual fuel costs to $782 per metric ton. The company also pointed to softer demand for European itineraries and execution missteps that led to shorter Caribbean sailings and bookings below expectations. Although Q1 EPS of $0.23 beat forecasts, revenue of $2.33 billion missed estimates. The stock fell 8.6% on the day and is down 8.7% year to date, significantly trailing the S&P 500.