Stock Futures Mixed After AMD Earnings, Private Payrolls Data

Stock futures are mixed this morning, as several bouts of tech earnings disappointed investors. Leading the pack of underperformers is Advanced Micro Devices (AMD), the chipmaker succumbing to growing valuation concerns. Before the bell, the Dow Jones Industrial Average (DJIA) is slightly higher, while the Nasdaq-100 Index (NDX) and S&P 500 Index (SPX) are below breakeven.

ADP private payrolls data was was in focus, with 42,000 jobs added in October -- a stark difference from September's 29,000 drop. Nonfarm payrolls data will not be released due to the ongoing government shutdown.

• How stocks tend to perform after an IPO, per Schaeffer's Senior Quantitative Analyst Rocky White.
• 25 stocks to avoid in November.
• Plus, two chip stocks seeing post-earnings drops; fast food chain enjoys a sales boost.

5 Things You Need to Know Today

1. The Cboe Options Exchange saw 2.4 million call contracts and 1.6 million put contracts exchanged on Tuesday. The single-session equity put/call ratio rose to 0.66, while the 21-day moving average remained at 0.58.
2. Advanced Micro Devices Inc (NASDAQ:AMD) stock is off 2% ahead of the open, despite posting a third-quarter earnings and revenue beat. Dragging sentiment is a continuation of yesterday's worries that AI stocks are overvalued. AMD still sports an impressive 107% gain for 2025.
3. Shares of Super Micro Computer Inc (NASDAQ:SMCI) are off 7.6% ahead of the bell, after the chipmaker reported a fiscal first-quarter earnings and revenue miss, as well as a mixed current quarter outlook. SMCI yesterday pulled back to its 126-day moving average and fell below its quarter-to-date breakeven level.
4. McDonald's Corp (NYSE:MCD) stock is 1.1% in the black in electronic trading, looking past a modest third-quarter earnings miss. Same-store sales grew 2.4% in the U.S. for the period. MCD is attempting to stay above its year-to-date breakeven, though the $310 level capped its most recent breakout attempt.
5. Earnings season is bringing in more big names this week.

Big Tech Selloff Weighs on European, Asian Markets

Asian markets were not exempt from the Big Tech selloff, with Japan’s Nikkei giving back 2.5% as conglomerate SoftBank weighed on tech stocks. South Korea’s Kospi fell 2.9% but held 4,000, with Samsung Electronics a notable laggard. Hong Kong’s Hang Seng settled slightly below breakeven, while China’s Shanghai Composite bucked the broad market trend with a 0.2% gain.

The tech correction is hitting Europe as well. At last check, London’s FTSE 100 is 0.1% higher, while the German DAX is 0.4% lower, and the French CAC 40 is flat. Auto giant BMW is in focus, after earnings only came in line with expectations.