Futures on the Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) are struggling for direction this morning, correcting from yesterday's impressive surge. Meanwhile, futures on Nasdaq-100 Index (NDX) are set to open more than 100 points lower. The budget bill that would extend government funding through January cleared the Senate and is now headed to the House for a vote. AI valuation concerns are also creeping back in, after Softbank said it sold its entire stake in Nvidia (NVDA) for $5.83 billion.
- There are cracks beneath this SPX uptrend, per Senior Market Analyst Jared Chantala.
- Struggling tech stock nears unflappable bull signal.
- Plus, stumbling cloud stock; aerospace giant seeing a post-earnings surge; and an AI name readying its wallet.
5 Things You Need to Know Today
- The Cboe Options Exchange saw 2.5 million call contracts and 1.3 million put contracts exchanged on Monday. The single-session equity put/call ratio fell to 0.49, while the 21-day moving average remained at 0.58.
- Cloud stock CoreWeave Inc (NASDAQ:CRWV) is stumbling today, down 7.9% before the bell, after the company warned it was behind schedule in its data center development. This overshadowed its smaller-than-expected loss and revenue beat for the third quarter. Over the past six months, CRWV has surged more than 80%.
- Also posting a narrower-than-expected loss for the third quarter was Rocket Lab Corp (NASDAQ:RKLB), sending the equity 7.7% higher ahead of the open. The company also announced a better-than-anticipated fourth-quarter outlook. The aerospace stock has added 251% over the past 12 months.
- BigBear.ai Holdings Inc (NYSE:BBAI) stock is 21.2% higher this morning, after the AI name shared plans to buy platform Ask Sage. This news came on the back of a third-quarter revenue beat. BBAI has struggled in recent weeks, but remains 28% higher for 2025.
- This week ushers in even more big name earnings.
Asian Markets Brush Off Sony Stock Earnings
Asian markets were mixed today, with South Korea’s Kospi adding 0.8% amid a tech sector rally and Hong Kong’s Hang Seng tacking on 0.2%. Japan’s Nikkei fell 0.1% despite Sony stock’s post-earnings pop, and China’s Shanghai Composite lost 0.9%.
Over in Europe, markets are moving higher once again. London’s FTSE 100 is up 0.8%, hitting a new record high amid telecom giant Vodafone’s stellar earnings report. Elsewhere, the French CAC 40 was also last seen up 0.8%, while the German DAX was 0.2% higher.
