Investors interpreted the latest batch of corporate earnings as solid but not spectacular, offering a convenient excuse to take profits after strong year-to-date rallies.
Palantir Technologies Inc. (NASDAQ:PLTR), one of the poster children of this year's AI-fueled rally, slumped around 8% despite easily beating Wall Street estimates and raising its full-year guidance.
President Donald Trump‘s legal authority to impose his most sweeping duties faces a key test at the Supreme Court today. Justices will hear arguments in a case whose decision could have significant reverberations for the global economy.
The 10-year Treasury bond yielded 4.08% and the two-year bond was at 3.58%. The CME Group's FedWatch tool‘s projections show markets pricing a 70.1% likelihood of the Federal Reserve cutting the current interest rates during its December meeting.
Futures
Change (+/-)
Dow Jones
0.06%
S&P 500
-0.10%
Nasdaq 100
-0.22%
Russell 2000
0.11%
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, fell in premarket on Wednesday. The SPY was down 0.16% at $674.13, while the QQQ declined 0.34% to $617.15, according to Benzinga Pro data.
Stocks In Focus
Advanced Micro Devices
Advanced Micro Devices Inc. (NASDAQ:AMD) fell 2.81% in premarket on Wednesday despite better-than-expected financial results for the third quarter. It said it expects fourth-quarter revenue of approximately $9.6 billion, plus or minus $300 million.
Benzinga’s Edge Stock Rankings indicate that AMD maintains a stronger price trend over the short, medium, and long terms, with a poor value ranking. Additional performance details are available here.
Qualcomm
Qualcomm Inc. (NASDAQ:QCOM) was 0.42% lower ahead of its earnings scheduled to be released ...
