A wave of disappointing earnings guidance and escalating U.S.-China trade tensions rattled investor confidence. The Donald Trump administration is considering new restrictions on exports to China that would target products either made with or containing U.S.-developed software.
Additionally, the administration is reportedly in talks with several U.S. quantum computing companies to take ownership stakes in exchange for federal funding.
Meanwhile, the 10-year Treasury bond yielded 3.98% and the two-year bond was at 3.46%. The CME Group's FedWatch tool‘s projections show markets pricing a 96.7% likelihood of the Federal Reserve cutting the current interest rates in its October meeting.
Futures
Change (+/-)
Dow Jones
-0.25%
S&P 500
-0.03%
Nasdaq 100
-0.01%
Russell 2000
0.37%
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, rose in premarket on Thursday. The SPY was up 0.0045% at $667.83, while the QQQ advanced 0.012% to $605.56, according to Benzinga Pro data.
Stocks In Focus
Tesla
Tesla Inc. (NASDAQ:TSLA) fell 3.04% in premarket on Thursday after reporting better-than-expected revenue for the third quarter, while earnings missed estimates.
TSLA maintained a stronger price trend over the short, medium, and long terms, with a poor value ranking, as per Benzinga’s Edge Stock Rankings. Additional performance details are available here.
International Business Machines
International Business Machines Corp. (NYSE:IBM) dropped 7.14% despite reporting better-than-expected financial results for the third quarter after the market closed on Wednesday. IBM also said it now expects constant currency revenue growth of “more than” 5% for full-year 2025, up from prior guidance of “at least” 5%.
Benzinga’s Edge Stock Rankings indicate ...
