Monday, November 3, 2025
Pre-market futures are mixed this morning as major indexes seek some equilibrium after striking — then pulling slightly back from — all-time trading highs at various times last month. We’re still undergoing a government shutdown, so some key pieces of economic data (such as Construction Spending for September today and government jobs numbers later this week) are unlikely to show up.
The blue-chip Dow and the small-cap Russell 2000 are both down at this hour, -40 points and -3 points, respectively. The S&P 500 is +18 points and the tech-heavy Nasdaq leads the way again, +160 points at this hour. Going into the penultimate trading month for 2025, all major indexes are up double-digits, but only the Nasdaq has a “2-handle” (+23.3%). Bond yields are mixed but mild: the 10-year blips up to +4.11% and the 2-year down to +3.61%.
Commercial paper giant Kimberly-Clark KMB has reportedly agreed to purchase J&J spinoff Kenvue KVUE for a whopping $48.7 billion this morning. The Kleenex, Cottonelle and Huggies parent is now moving into other home staples products like Tylenol and Band-Aid. Shares of KMB are down -14% on this news, while KVUE shares reflect the buying price and are up +20% at this hour.
Q3 Earnings Ahead of the Bell
In quantity, this will be the biggest week of Q3 earnings season so far. We’ve already seen most of the Mag-7 stocks post their quarterly results, so the marquee names are little fewer and far-in-between. But after today’s close we hear from cybersecurity cloud provider
Palantir PLTR,
Lattice Semiconductor LSCC,
Clorox CLX,
Simon Properties SPG and
Williams Companies WMB.
ON Semiconductor ON is out this morning with Q3 earnings results, posting a bottom-line beat of 3 cents — 63 cents per share versus expectations for 60 cents — on $1.55 billion in sales, which is similarly ahead of the $1.53 billion in the Zacks Consensus. Shares are up +4% in early trading on the news, although the stock has a ways to go to make back the -20% it has lost so far in 2025.
What to Expect from Today’s Stock Market
Aside from the already stated earnings reports due after today’s close, we will get a couple monthly economic prints from the private sector after the opening bell this morning:
S&P final U.S. Manufacturing PMI and
ISM Manufacturing, both for October. The S&P post from a month ago was above the brea-even 50 threshold, 52.2, while the ISM headline was a mere 49.1%. ISM numbers are expected to upgrade to +49.3%, but remain below that demarcation point between growth and loss.
Questions or comments about this article and/or author? Click here>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Williams Companies, Inc. (The) (WMB): Free Stock Analysis Report Simon Property Group, Inc. (SPG): Free Stock Analysis Report Kimberly-Clark Corporation (KMB): Free Stock Analysis Report The Clorox Company (CLX): Free Stock Analysis Report Lattice Semiconductor Corporation (LSCC): Free Stock Analysis Report ON Semiconductor Corporation (ON): Free Stock Analysis Report Palantir Technologies Inc. (PLTR): Free Stock Analysis Report Kenvue Inc. (KVUE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
