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Quantum Computing Stocks Surge, Google Rebukes Apple, and Uber Downgraded
ByAinvest
Thursday, May 8, 2025 8:57 am ET1min read
The S&P 500, Nasdaq 100, and Dow Jones futures are up, driven by expectations of a US-UK trade deal. The Bank of England cut its bank rate to 4.25%. Quantum computing stocks surged after D-Wave Quantum reported strong Q1 results, with shares up 20% or more. Google countered Apple's claims of declining search queries, while Uber was downgraded to Neutral from Outperform by Wedbush Securities.
U.S. stock futures jumped on Thursday morning, driven by optimism over the potential unveiling of a major U.S.-UK trade deal by President Trump. The tech-heavy Nasdaq 100 (NQ=F) led the gains, rising by approximately 1.4%, followed by the S&P 500 futures (ES=F) climbing around 1% and the Dow Jones Industrial Average futures (YM=F) increasing by 0.9% [1].The Bank of England cut its main interest rate by 0.25 percentage points to 4.25% on Thursday, despite an unexpected three-way split among policymakers. The decision was influenced by the uncertain global economic environment and the potential impact of U.S. President Donald Trump's tariffs on global economic growth [2].
Meanwhile, D-Wave Quantum Inc (NASDAQ:QBTS) reported strong Q1 2025 results, with revenue soaring to $15.0 million, a 508.6% increase compared to the same period last year. Gross profit improved dramatically, reaching $13.9 million, and the company's cash position strengthened to $304 million. The stock was trading up 19.88% in premarket, reflecting investor enthusiasm about the company's financial growth and commercial adoption of quantum computing technology [3].
Google countered Apple's claims of declining search queries, while Uber was downgraded to Neutral from Outperform by Wedbush Securities.
References:
[1] https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-futures-rise-as-trump-touts-major-us-uk-trade-deal-231641954.html
[2] https://www.tradingview.com/news/reuters.com,2025:newsml_L8N3RG1GI:0-bank-of-england-policymakers-speak-after-rate-cut/
[3] https://ca.investing.com/news/company-news/dwave-q1-2025-slides-revenue-surges-508-as-quantum-computing-gains-traction-93CH-4003161
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