Stock Market Today: Dow Futures Tumble, S&P 500 Rises After Trump’s ‘Project Freedom’ To Escort Stranded Vessels At Hormuz— eBay, Nebius In Focus

U.S. stock futures were mixed on Monday, following Friday’s divergence between the Dow Jones and other benchmark indices.

On Sunday, President Donald Trump announced that starting Monday morning, the U.S. will lead an initiative to escort stranded vessels out of the Strait of Hormuz‘s restricted zones. He described the mission as a “humanitarian gesture” aimed at assisting neutral nations affected by the ongoing U.S.-Israeli conflict with Iran. This was dubbed as “Project Freedom.”

Crude oil futures were higher as traders are also likely to evaluate OPEC+’s decision to raise oil output by 188,000 barrels per day, announced at its first meeting following the exit of key member the United Arab Emirates (UAE).

Meanwhile, the 10-year Treasury bond yielded 4.37%, and the two-year bond was at 3.88%. The CME Group’s FedWatch tool‘s projections show markets pricing a 94.8% likelihood of the Federal Reserve leaving the current interest rates unchanged during June’s meeting.

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 0.097% at $721.35, while the QQQ advanced 0.22% to $675.64.

Stocks In Focus

GameStop And eBay

• eBay Inc. (NASDAQ:EBAY) rose 7.62%, and GameStop Corp. (NYSE:GME) fell 0.96% in premarket on Monday after GME released a proposal to buy eBay for $56 billion in cash and stock.

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

Nebius Group

• Nebius Group NV (NASDAQ:NBIS) rose 3.42% after the company agreed to acquire Eigen AI to expand its AI inference capabilities and strengthen its Nebius Token Factory platform on May 1.

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

ON Semiconductor

• ON Semiconductor Corp. (NASDAQ:ON) advanced 1.15% ahead of its earnings before the closing bell. …

Full story available on Benzinga.com