May 7 Market Update

Markets: Chinese stocks were falling despite positive trade talk implications. U.S. futures dropped from earlier highs. The Fed is expected to hold rates; attention is on Jerome Powell's tone at the 2 p.m. ET announcement. Earnings Highlights: Uber: Beat EPS estimates, missed on revenue, strong Q2 guidance. CrowdStrike: Cutting 5% of workforce, in-line guidance. Disney: Positive surprise in streaming growth, planning Abu Dhabi theme park. Marvell: Delaying investor day, citing macroeconomic uncertainty. Arista Networks (ANET): Strong Q1 results, cautious full-year outlook due to tariffs. Supermicro: Mixed results, weak guidance. Vistra (VST): Missed earnings, revenue significantly below estimates despite 29% gain. Electronic Arts (EA): Strong results, stock trending up. Mosaic: Up slightly on earnings. AMD: Stock up, still far from recovery. Upstart (UPST): Major pre-market decline. Tempus: Volatile movements. Rivian: Beat estimates but cut delivery guidance; stock down.