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Conflicting Reports from the Strait of Hormuz Greet the Pre-Market
"Jobs Week" Begins Tomorrow with JOLTS, then ADP, then BLS
Tyson Foods and Norwegian Cruises Report Ahead of the Open
Monday, May 4th, 2026
Pre-market futures are mixed to kick off a new week, with another more-than-impressive earnings season from AI-related Tech keeping the Nasdaq in the green at this hour, while the Strait of Hormuz headlines are keeping the Dow and S&P 500 in the red presently. The Dow is -186 points, the S&P 500 is -11, the Nasdaq +8 points and the small-cap Russell 2000 is -8 currently.
Differing reports are competing this morning, with Iranian state media declaring a U.S. Naval ship was struck trying to pass the Strait of Hormuz, which was denied by the U.S. In fact, the U.S. reported that two ships were successfully able to pass through while we were sleeping. Time will tell, ultimately, if either of these, or both, are truthful statements. WTI spot oil prices are around $103 per barrel (/bbl) this morning; Brent crude is $110/bbl.
Expectations from “Jobs Week”
Here is the first full week of a new month, we’re once again in “Jobs Week.” This kicks off tomorrow a month in arrears with the March results from Job Openings and Labor Turnover Survey (JOLTS). Headline is expected to drift down slightly, to 6.8 million job openings from 6.9 million the prior month. Lately these numbers have been fairly volatile: the 12-month high from January, 7.24 million, directly followed the yearly low 6.55 million from December.
Wednesday brings us private-sector payrolls from Automatic Data Processing (ADP) for April: +98K new private-sector jobs filled last month would be the highest since +104K back in July of 2025. Trends are up, on average, in the past four months from the four months prior: +45K versus -3.5K (August through November ’25). A stronger number for April may go some way toward quelling fears about an unravelling employment market.
Thursday morning, as most Thursday mornings, we’ll see the latest Weekly Jobless Claims for the prior week. This figure is expected to bump back up above +200K following last week’s print of +189K — the lowest single-week read on new jobless claims since 1969. This is a remarkable statistic when we consider how radically different the U.S. economy was back then: Equipment Manufacturing was the #1 industry back then.
On Friday, the Big Kahuna: the Employment Situation report from the U.S. Bureau of Labor Statistics (BLS) are expected to yield +53K new jobs in April, well off the ADP forecast and less than a third of the +178K reported in March. The Unemployment Rate is expected to remain at a still-low +4.3%, with Wage Growth expected up +30 basis points year over year to +3.8%.
Earnings Results & Expectations at a Glance: TSN, NCLH, PLTR, PINS
Ahead of today’s open, meat-producing giant Tyson Foods (TSN - Free Report) posted a healthy bottom-line beat in its fiscal Q2 report this morning, with earnings of $0.87 per share easily surpassing the $0.76 in the Zacks consensus, for a +14.47% positive surprise. Revenues of $14.31 billion improved over the $13.80 billion anticipated. Shares are +1.3% on the news, adding to the stock’s +8.6% gain year to date.
Norwegian Cruise Lines (NCLH - Free Report) reported mixed Q1 results this morning, surging past earnings estimates by +53.3% to $0.23 per share, while revenues in the quarter reached $2.33 billion, -0.5% below expectations. But a deep cut to forward guidance is sending shares down -5% in today’s pre-market, deepening the stock’s -15.7% hole from the start of the year. For more on NCLH’s earnings, click here.
After today’s close, cybersecurity staple Palantir (PLTR - Free Report) and social media platform Pinterest (PINS - Free Report) report earnings. Palantir is expected to continue the Big Tech/AI narrative of huge year-over-year growth: +123% on earnings, +74.2% on revenues. Pinterest is projected to come in -4.35% on earnings from a year ago and +12.73% on revenues.
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Pre-Markets Mixed to Begin New Trading Week
Key Takeaways
Monday, May 4th, 2026
Pre-market futures are mixed to kick off a new week, with another more-than-impressive earnings season from AI-related Tech keeping the Nasdaq in the green at this hour, while the Strait of Hormuz headlines are keeping the Dow and S&P 500 in the red presently. The Dow is -186 points, the S&P 500 is -11, the Nasdaq +8 points and the small-cap Russell 2000 is -8 currently.
Differing reports are competing this morning, with Iranian state media declaring a U.S. Naval ship was struck trying to pass the Strait of Hormuz, which was denied by the U.S. In fact, the U.S. reported that two ships were successfully able to pass through while we were sleeping. Time will tell, ultimately, if either of these, or both, are truthful statements. WTI spot oil prices are around $103 per barrel (/bbl) this morning; Brent crude is $110/bbl.
Expectations from “Jobs Week”
Here is the first full week of a new month, we’re once again in “Jobs Week.” This kicks off tomorrow a month in arrears with the March results from Job Openings and Labor Turnover Survey (JOLTS). Headline is expected to drift down slightly, to 6.8 million job openings from 6.9 million the prior month. Lately these numbers have been fairly volatile: the 12-month high from January, 7.24 million, directly followed the yearly low 6.55 million from December.
Wednesday brings us private-sector payrolls from Automatic Data Processing (ADP) for April: +98K new private-sector jobs filled last month would be the highest since +104K back in July of 2025. Trends are up, on average, in the past four months from the four months prior: +45K versus -3.5K (August through November ’25). A stronger number for April may go some way toward quelling fears about an unravelling employment market.
Thursday morning, as most Thursday mornings, we’ll see the latest Weekly Jobless Claims for the prior week. This figure is expected to bump back up above +200K following last week’s print of +189K — the lowest single-week read on new jobless claims since 1969. This is a remarkable statistic when we consider how radically different the U.S. economy was back then: Equipment Manufacturing was the #1 industry back then.
On Friday, the Big Kahuna: the Employment Situation report from the U.S. Bureau of Labor Statistics (BLS) are expected to yield +53K new jobs in April, well off the ADP forecast and less than a third of the +178K reported in March. The Unemployment Rate is expected to remain at a still-low +4.3%, with Wage Growth expected up +30 basis points year over year to +3.8%.
Earnings Results & Expectations at a Glance: TSN, NCLH, PLTR, PINS
Ahead of today’s open, meat-producing giant Tyson Foods (TSN - Free Report) posted a healthy bottom-line beat in its fiscal Q2 report this morning, with earnings of $0.87 per share easily surpassing the $0.76 in the Zacks consensus, for a +14.47% positive surprise. Revenues of $14.31 billion improved over the $13.80 billion anticipated. Shares are +1.3% on the news, adding to the stock’s +8.6% gain year to date.
Norwegian Cruise Lines (NCLH - Free Report) reported mixed Q1 results this morning, surging past earnings estimates by +53.3% to $0.23 per share, while revenues in the quarter reached $2.33 billion, -0.5% below expectations. But a deep cut to forward guidance is sending shares down -5% in today’s pre-market, deepening the stock’s -15.7% hole from the start of the year. For more on NCLH’s earnings, click here.
After today’s close, cybersecurity staple Palantir (PLTR - Free Report) and social media platform Pinterest (PINS - Free Report) report earnings. Palantir is expected to continue the Big Tech/AI narrative of huge year-over-year growth: +123% on earnings, +74.2% on revenues. Pinterest is projected to come in -4.35% on earnings from a year ago and +12.73% on revenues.
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