Following yesterday's steep losses, chip stocks are back on the rise, aiding in a pre-market rebound as optimism resurfaces ahead of Nvidia's (NVDA) third-quarter report, due out after the close. Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) futures are pointed higher, after the indexes yesterday marked a fourth-straight loss. Meanwhile, futures on the tech-heavy Nasdaq-100 Index (NDX) are sporting healthy gains. Several retail earnings reports are in focus as well, while Bitcoin (BTC) again briefly slipped below $90,000.
- Senior Quantitative Analyst Rocky White breaks down this tax optimization plan.
- No shortage of data on tap this Thanksgiving week.
- Plus, Home Depot rival takes the crown; Target's dismal outlook; DASH pops on upgrade.
5 Things You Need to Know Today
- The Cboe Options Exchange saw more than 2 million call contracts and more than 1.4 million put contracts were exchanged on Tuesday. The single-session equity put/call ratio fell to 0.70, while the 21-day moving average remained at 0.58.
- Shares of home improvement name Lowe's Companies Inc (NYSE:LOW) are 4.6% higher before the open, after company posted a third-quarter earnings and revenue beat. This come in stark contrast to rival Home Depot's (HD) dismal Q3. Should these gains hold, LOW will snap its five-day losing streak and shave off some of its 11% year-to-date deficit.
- Struggling retail stock Target Corp (NYSE:TGT) is moving 3.6% lower before the bell, brushing off a third-quarter beat due to a lowered fiscal year profit outlook. TGT has been on a downward trajectory since early 2025, shedding 16% in the last three months alone.
- DoorDash Inc (NASDAQ:DASH) is climbing 1.9% in electronic trading after landing another upgrade, this time at Jefferies to "buy" from "hold," with a price-target hike to $260 from $220. The food delivery stock suffered a steep post-earnings bear gap earlier this month, but remains 22% higher year-over-year.
- A few other names are slated to report this week.
Asian Markets Gap Lower on Tech Selloff
Asian markets extended their slide, with tech sector concerns stretching across the globe. Bond yields at 18-year highs weighed on Japanese equities, sending the Nikkei down 0.4%, as rising yields pressured major growth. Hong Kong’s Hang Seng gave back 0.4%, with tech giant Xiaomi a slumped as investors rotated out of consumer tech names. The South Korean Kospi shed 0.6%, with Samsung Electronics and SK Hynix both down more than 1%, respectively, as concerns around memory-chip pricing pressured sentiment. China’s Shanghai Composite secured a win, rising 0.2%.
Over in Europe, bourses are struggling for direction. U.K. inflation fell to 3.6% in October, increasing the chance of an interest rate cut next month from the Bank of England. London’s FTSE 100 was last seen 0.2% lower, however. The French CAC 40 is flat amid a bear gap from media conglomerate Vivendi, and the German DAX is 0.2% higher.
