Stock Market Today: S&P 500, Dow Jones, Nasdaq Futures Plunge As Uber Misses Q3 Estimates—Advanced Micro Devices, Palantir, Denny's In Focus

Benzinga

U.S. stock futures declined on Tuesday after Monday’s mixed moves. Futures of major benchmark indices were lower.  The declines come as chatter around an AI bubble gained more ground, with Michael Burry, known for his "Big Short" bet against the 2008 housing market, buying put options worth over $1 billion on Nvidia (NASDAQ:NVDA) and Palantir Technologies (NASDAQ:PLTR).  Meanwhile, the U.S. Government shutdown stretched into its 34th day, with experts warning that the economic consequences are becoming more severe as the standoff continues.

Transcript

00:00all right as mentioned right at the top here futures under significant pressure here today

00:11S&P futures down 0.98 percent this is actually up off the low was down more earlier this morning

00:17Dow future down six tenths down 0.6 percent and the Nasdaq leading the way lower at minus 1.33

00:24it is worth noting that all of these indices are up off of the lows this morning doesn't mean we

00:30won't retest them but still pointing to a weaker open across the board here let's go ahead and take

00:38a look at some cues from last session sectors gaining on Monday included consumer discretionary

00:43and information technology and I'll tell you what that sure changed at the end when Palantir

00:49reported earnings the decline comes as chatter around the AI bubble gained more ground looks

00:55like my Halloween costume was a pretty good one pretty good timing there with Michael Burry known

01:00for his big short bet against the 2008 housing market buying put options worth over a billion

01:07dollars are on Nvidia and Palantir combined meanwhile the U.S. government shutdown stretched into its 34th

01:14day with experts warning that the economic consequences are becoming more severe as the

01:19standoff continues the 10-year treasury bond yielded 4.08 percent and the two-year bond was at 3.58 percent

01:27we do have several stocks in focus here today first one's going to be advanced micro devices or ticker AMD

01:34that fell 2.22 percent in the pre-market on Tuesday ahead of its earnings scheduled to be released after the

01:41closing bell analysts expected to report earnings of 116 per share on revenue of 8.74 billion you could

01:48say that this is probably the biggest earnings report of the day we'll see how this ends up reporting

01:53next on this list is going to be Upwork that's ticker UPWK it jumped 18.3 percent after reporting better

02:01than expected third quarter financial results and issued fourth quarter guidance above estimates also the

02:08company raised its full year 25 guidance above estimates so Upwork with a good pop there on

02:13earnings Denny's Corporation ticker D-E-N-N surged 49.15 percent after the company announced late on

02:22Monday it had entered into a definitive agreement to be acquired and taken private for approximately

02:28620 million dollars so if you were in Denny's Corp ticker D-E-N-N today is your exit day

02:34Palantir is uh is next on the list at tumbled 7.51 percent despite strong earnings as Burry's

02:42Scion Asset Management purchased 186.58 million worth of put options see where Palantir goes today

02:51that's going to be the uh the big watch here today so far in the pre-market it looks like it's done an

02:56all right job holding 190 we'll see if that 190 ends up falling here today and the last stock on our list

03:02tier is going to be Uber um ticker UBER dropped 2.47 percent after it reported revenue of 11.2 billion

03:12which missed the 13.27 billion estimate and its gross bookings grew 16 percent year over year to 41

03:20billion missing management outlooks between 48.25 billion and 49.25 billion

03:27tiered and 50.25 billion and 50.25 billion and 50.25 billion and 50.25 billion and 50.25 billion

03:33and 50.25 billion and 50.25 billion and 50.25 billion and 50.25 billion and 50.25 billion

03:35and 50.25 billion and 50.25 billion and 50.25 billion and 50.25 billion and 50.25 billion and 50.25 billion

Category

Transcript

Be the first to comment

Recommended