Stock Market Today: Dow Jones, S&P 500 Futures Rise As US Undertakes 'Self-Defense' Strikes Against Iran—Hewlett-Packard, Nvidia, Uber In Focus

U.S. stock futures rose on Monday, after a higher close on Friday, ending the month of May at a record high.

The U.S. has undertaken "self-defense" strikes in Iran on Sunday as President Donald Trump says Iran wants a deal and urges critics to stop second-guessing his negotiation strategy.

According to an update on X by the Central Command, the U.S. carried out strikes in Iran over the weekend, hitting Iranian radar and command and control sites. The strikes were in response to "aggressive Iranian actions," including the shooting down of a US MQ-1 drone operating over international waters.

Investors will keep an eye on the May jobs report this week, slated for a Friday release, and earnings from tech heavyweights like Palo Alto Networks Inc. (NASDAQ:PANW), CrowdStrike Holdings Inc. (NASDAQ:CRWD), and Broadcom Inc. (NASDAQ:AVGO).

Meanwhile, the 10-year Treasury bond yielded 4.46%, and the two-year bond was at 4.03%. The CME Group's FedWatch tool‘s projections show markets pricing a 99.4% likelihood of the Federal Reserve leaving the current interest rates unchanged during June’s meeting.

Index	Performance (+/-)
Dow Jones	0.15%
S&P 500	0.15%
Nasdaq 100	0.18%
Russell 2000	-0.10%

The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 and Nasdaq 100, respectively, were higher in premarket on Monday. The SPY was up 0.25% at $757.86, while the QQQ was higher by 0.32% to $740.70.

Stocks In Focus

Hewlett Packard Enterprise

• Hewlett Packard Enterprise Co. (NYSE:HPE) jumped 6.06% in premarket on Friday as it is set to report its second-quarter results after market close. Analysts expect the company to report a 28.7% year-on-year rise in revenue to $9.82 billion, with a 42.11% year-on-year increase in EPS to $0.54. It also announced a new HPE ProLiant Compute DL394 Gen12 with the latest NVDA Vera CPU at the Computex 2026 in Taipei.

• Benzinga’s Edge Stock Rankings indicate that HPE maintains a strong price trend in the long, short, and medium terms, with a poor growth rank.

Nvidia

• Nvidia Corp. (NASDAQ:NVDA) was 1.67% higher as CEO Jensen Huang used the Computex 2026 stage in Taipei to outline a sweeping vision for artificial intelligence (AI) infrastructure, unveiling new AI-focused processors, AI PCs and data center technology as the company expands far beyond its roots as a graphics chip maker.

• Benzinga’s Edge Stock Rankings indicate that NVDA maintains a strong price trend in the short, long, and medium terms, with a poor value score.

Super Micro Computer

• Super Micro Computer Inc. (NASDAQ:SMCI) advanced 1.95% as it announced the launch of 12 new server platforms optimized for new Intel Xeon 6+ processors.

• Benzinga’s Edge Stock Rankings indicate that SMCI maintains a strong price trend in the long, short, and medium terms, with a good quality score.

Uber Technologies

• Uber Technologies Inc. (NYSE:UBER) was up 1.79% as it announced plans with Israel-based Autobrains to launch a robotaxi programme in Munich, pending regulatory approval.

• Benzinga’s Edge Stock Rankings indicate that UBER maintains a weak price trend in the long, medium and short terms, with a moderate value score.

Credo Technology Group

• Credo Technology Group Holding Ltd. (NASDAQ:CRDO) was 2.75% higher as analysts expect it to report earnings of $0.79 on revenue of $432.05 million, after the closing bell.

• Benzinga’s Edge Stock Rankings indicate that CRDO maintains a strong price trend in the short, long, and medium terms, with a solid growth score.

Cues From Last Session

Consumer staples, communication services, and energy stocks recorded the biggest losses on Friday, leading most S&P 500 sectors to close on a negative note. However, bucking the overall market trend, information technology and financial stocks closed higher.

Index	Performance (+/-)	Value
Dow Jones	0.72%	51,032.46
S&P 500	0.22%	7,580.06
Nasdaq Composite	0.20%	26,972.62
Russell 2000	-0.59%	2,919.34

Insights From Analysts

The current S&P 500 bull market, which began at the bear market bottom in October 2022, has officially become the eighth-longest rally since World War II.

According to new data from Carson Investment Research and FactSet, the run hit the 3.630-year mark, officially overtaking the historic 3.627-year bull market of 1962–1966. Over this span, the index has surged by 111.9%.

While some market commentators worry that a 43-month-old rally is getting extended, Carson Group's Chief Market Strategist Ryan Detrick suggests history points to further gains.

"What matters here is how long those other bull markets that made it this far lasted," Detrick noted in a recent post on X. He emphasized that the other seven longest historical rallies lasted an average of more than seven total years.

Looking ahead at the historical trajectory, Detrick teased market skeptics by adding, "Imagine if this bull was only ‘halfway over'? Boy, that’ll upset a lot of bears."

Upcoming Economic Data

Here's what investors will be keeping an eye on this week.

• On Monday, May’s S&P final U.S. manufacturing PMI data will be released by 9:45 a.m., while May’s ISM manufacturing data and April’s construction spending report will both be out by 10:00 a.m. ET.
• Minneapolis Fed President Neel Kashkari will speak in South Korea at 11:50 p.m., and May’s auto sales figures will be released at a time to be announced.
• On Tuesday, Cleveland Fed President Beth Hammack will speak at 8:55 a.m., and April’s job openings report will be out by 10:00 a.m. ET.
• On Wednesday, May’s ADP employment data will be released by 8:15 a.m. ET.
• Federal Reserve governor Michael Barr will speak at 9:00 a.m., May’s S&P final U.S. services PMI will be out by 9:45 a.m., and April’s factory orders, along with May’s ISM services data will both be released by 10:00 a.m. ET.
• The Fed’s Beige Book will be released by 2:00 p.m. ET.
• On Thursday, initial jobless claims for the week ending May 30 and the first-quarter U.S. productivity report will both be released by 8:30 a.m. ET, and Richmond Fed President Tom Barkin will speak at the same time.
• On Friday, May’s U.S. employment report, May’s U.S. unemployment rate, May’s U.S. hourly wages, and hourly wages year over year data will all be out by 8:30 a.m., and April’s consumer credit report will be released by 3:00 p.m. ET.

• On Saturday, Federal Reserve governor Michael Barr will speak at 12:00 p.m. ET.

Commodities, Crypto, And Global Equity Markets

Crude oil futures were trading higher in the early New York session by 3.91% to hover around $90.78 per barrel.

Gold Spot US Dollar fell 0.87% to hover around $4,499.99 per ounce. Its last record high stood at $5,595.46 per ounce. The U.S. Dollar Index spot was 0.04% higher at the 98.9860 level.

Meanwhile, Bitcoin (CRYPTO: BTC) was trading 1.41% lower at $72,811.83 per coin, as per the last 24 hours.

Asian markets closed mixed on Monday, as China’s CSI 300, India’s Nifty 50, and Australia's ASX 200 indices fell. While Hong Kong's Hang Seng, South Korea's Kospi, and Japan's Nikkei 225 indices rose. European markets were also mixed in early trade.

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