Following a week of volatile Big Tech trading that ended mixed for markets, futures on the Dow Jones Industrial Average (DJI), Nasdaq-100 Index (NDX), and S&P 500 Index (SPX) are starting Monday modestly lower as investors remain cautious. A looming November jobs report and Nvidia's (NVDA) quarterly earnings are the major focus this week, with the AI darling slated to deliver results after Wednesday's close.
Warren Buffett's Berkshire Hathaway (BRK.A) is also making noise, after revealing a $4.3 billion stake in Alphabet (GOOGL) for last quarter. Meanwhile, the New York Fed’s Empire State Manufacturing Index posted a reading of 18.7, its highest level in a year.
- Unpacking the Big Tech volatility that steered Wall Street.
- Why bear traders may have missed their opportunity.
- Plus, Buffett reduces AAPL stake; Mizuho's latest upgrade; and a broadcasting giant with buyout interest.
5 Things You Need to Know Today
- The Cboe Options Exchange saw over 2.4 million call contracts and more than 1.5 million put contracts exchanged on Friday. The single-session equity put/call ratio came in at 0.63, while the 21-day moving average remained at 0.58.
- Tim Cook's Apple Inc (NASDAQ:AAPL) is off 1.1% ahead of the open, after Warren Buffett's Berkshire Hathaway (BRK.A) disclosed that it offloaded $10.6 billion shares in Q3, as well as several other large holdings. AAPL is up 8.7% in 2025 and will be headed for a fourth-straight loss if this pullback holds.
- Rubrik Inc (NYSE:RBRK) is charging 2.2% higher before the bell, after landing an upgrade to "outperform" from "neutral" at Mizuho. The firm said the stock is undervalued and hosts many competitive strengths. Despite its recent struggle on the charts, RBRK remains 60% higher year-over-year.
- E.W. Scripps Co (NYSE:SSP) is surging 26.5% in electronic trading, after a report surfaced that stated Sinclair had taken a stake of around 8% in the television broadcasting giant, with a larger plan to buy fully. SSP has been outperforming on the carts, up nearly 40% since January.
- All eyes are on several Big Tech earnings reports this week.
South Korea Bucks Asian Market Pullback
Asian markets were mostly lower today. Japan’s Nikkei gave back 0.1% after gross domestic product (GDP) data contracted last quarter. Tensions involving China are weighing on cosmetic stocks as well, after the country warned its citizens to not travel and study outside the region, sending the Shanghai Composite down 0.5%. Rounding out the region, Hong Kong’s Hang Seng shed 0.7%, while South Korea’s Kospi bucked the broad market trend and added 1.9% on the strength of small caps.
Over in Europe, bourses are in the red at last check. London’s FTSE 100 is off a modest 0.2%, while the French CAC 40 and the German DAX are 0.5% and 0.6% lower, respectively.
