Top 5 Essential Insights Before the Stock Market Opens Today

Market update for May 6, 2025

U.S. stock futures are signaling a downward trend as investors brace for the Federal Reserve's pivotal two-day meeting starting today. Palantir (PLTR) shares are declining in premarket trading following quarterly results that fell short of heightened expectations. Ford (F) stock is also retreating after the automaker put its full-year outlook on hold amid tariff uncertainties. Meanwhile, DoorDash (DASH) shares dip after releasing first-quarter earnings ahead of schedule and announcing a major acquisition of the U.K.-based food delivery company Deliveroo for nearly $4 billion. Here’s what investors should focus on today.

1. U.S. Stock Futures Edge Lower Amid Escalating Tariff Concerns

Investors are cautious as U.S. stock futures point downward ahead of the Federal Reserve meeting, reflecting ongoing tariff tensions. The S&P 500 and Dow Jones Industrial Average futures have dropped by 0.8% and 0.7% respectively, following their first decline in two weeks. Nasdaq futures are down 1.1%, mirroring the tech-heavy index’s 0.7% fall in the previous session. Bitcoin (BTCUSD) hovers slightly below $94,000. Meanwhile, oil and gold futures are on the rise, and 10-year Treasury yields remain largely steady.

2. Federal Reserve Meeting Kicks Off Amid Pressure on Interest Rate Decisions

The Federal Reserve begins its critical two-day policy meeting today, where decisions on interest rates currently set between 4.25% and 4.5% will be closely watched. Market expectations, as indicated by the CME Group's FedWatch tool, suggest no immediate change in rates. This meeting follows last week’s steady jobs report and unchanged inflation data for March. Despite President Donald Trump’s calls for rate cuts, Fed Chair Jerome Powell and officials maintain a cautious "wait-and-see" stance pending further economic data.

3. Palantir Shares Slide After AI Software Firm’s Results Meet but Do Not Exceed Expectations

Palantir (PLTR) shares fell over 7% in early trading after the company reported quarterly revenue of $884 million, a 39% increase year-over-year, surpassing consensus estimates. However, adjusted earnings per share of 13 cents aligned with forecasts, leading to investor disappointment. The company did raise its full-year revenue guidance to a range of $3.89 billion to $3.9 billion, exceeding analyst predictions.

4. Ford Stock Declines as Automaker Suspends Full-Year Outlook Due to Tariff Risks

Ford (F) shares dropped more than 2% in premarket hours after the automaker suspended its annual guidance amid tariff-related uncertainties. Ford anticipates a $1.5 billion impact on adjusted earnings before interest and taxes this year due to tariffs, highlighting potential disruptions across the industry’s supply chain. The company reported adjusted earnings per share of 14 cents for Q1, down 71% year-over-year, with revenue decreasing 5% to $40.7 billion.

5. DoorDash Shares Fall Following Soft Revenue and Strategic Acquisitions

DoorDash (DASH) shares declined 3% in premarket trading after reporting first-quarter revenue of $3.03 billion, below the $3.10 billion expected by analysts. The food delivery giant also announced the acquisition of U.K. delivery service Deliveroo for approximately £2.9 billion ($3.86 billion) in cash, expanding its international footprint. Additionally, DoorDash acquired restaurant reservation platform SevenRooms, signaling a strategic push to diversify services.

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