Stock Market Today: Supreme Court Questions Trump's Tariffs—Coherent, Marvell Tech, Applovin, Apple In Focus

Benzinga

U.S. stock futures fell on Thursday after Wednesday’s positive close. Futures of major benchmark indices were lower.  This followed the doubts raised by the U.S. Supreme Court regarding President Donald Trump's authority to impose sweeping tariffs using a decades-old emergency powers law, on Wednesday.  The 10-year Treasury bond yielded 4.14% and the two-year bond was at 3.61%. The CME Group's FedWatch tool‘s projections show markets pricing a 67.3% likelihood of the Federal Reserve cutting the current interest rates during its December meeting.

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00:00all right futures slightly in the green and up off the lows here this morning s p futures up

00:120.16 dow futures up 0.06 and the nasdaq futures up 0.15 notably these traded lower after the

00:21close yesterday and then actually the opening of the pre-market from the overnight session

00:26it moved a little bit lower but has reversed and actually gone into the green so we'll see how long

00:32uh it stays in the green or if we actually get a bit of a sell-off here today let's take a look at

00:37some cues from last session here sectors recording the biggest gains on wednesday included communication

00:42services consumer discretionary and materials which led most s p 500 segments to close on the

00:49positive side bucking the overall market trend however were consumer staples and information

00:54technology which is an interesting dichotomy both of those closed the session lower u.s stock futures

01:00as i mentioned fell on thursday morning early uh after the positive close on wednesday but have

01:06since turned green so again we'll see if that keeps up here uh this followed doubts raised by the u.s

01:12supreme court regarding president trump's authority to impose sweeping tariffs using a decades old

01:17emergency powers law on wednesday i listened i mean i i put it on c-span so i guess i tried to watch but

01:24they don't allow video recording for these supreme court things so they just had pictures i listened

01:29to some of it i listened to some of the arguments uh and i was trying to determine i know polymarket

01:35and cal she have like a what a probability on on what people think is going to happen i was trying to

01:41listen to cues from that and i i don't know that i have one there there's definitely some in the

01:47positive column some in the negative column but i just don't think there's enough information there

01:52for us to say confidently uh what's going to end up happening from that a i think that we're likely

01:58to get the results of this probably sometime next year i know there was some talk about expediting that

02:04as well i'm just not sure uh when we're actually going to get that but i did tune in a little bit

02:10to that was not enough for me to make a decision on a trade i didn't gain enough conviction from any new

02:18information that i heard to make a trade on it if you did or you're preparing for that i am interested

02:24the 10-year treasury bond yielded 4.14 and the two-year bond was at 3.61 we do have some stocks

02:32in focus today and the first one here is going to be airbnb they rose 0.041 in the pre-market on

02:39thursday ahead of its earnings scheduled to be released after the closing bell or really quickly

02:43um here's the here's the earnings calendar uh airbnb probably the biggest one here today i think

02:51that's going to be bigger than any of the other reports a monster is also on there texas roadhouse

02:56is also on there and mp materials is also on there but i suspect that it's going to be airbnb

03:03has the biggest reaction uh they're scheduled to release after the closing bell an analyst expected

03:08to report 234 per share on revenue of 4.08 billion apple is our second stock on the list here today

03:17it fell 0.27 after the news that it was finalizing a deal to pay alphabet about a billion dollars yearly

03:23for ai technology to rebuild siri using the partnership as a temporary fix until 2026 i'd like

03:31to get your opinion on whether or not this is good or bad um i guess the overall it's going to depend

03:37on what siri can do and how much of an upgrade it actually is but let's discuss that here uh marvell

03:44is the third stock on the list and this is uh victory lap inducing for our group here in the

03:50morning remember we talked about some semiconductors that really haven't made a big run yet we used

03:55benzinga pro to come up with a scan for those and marvell was one of the ones at the top of the list

04:00now here we go marvell soared 8.55 percent as bloomberg reported that softbank group explored a

04:07potential takeover of the u.s chip maker earlier this year this was to effectively supercharge

04:13arm uh arm holdings ticker arm so interesting news here uh marvell trading up on that big time

04:20shout out to all of us for kind of looking for uh semiconductors that haven't run yet and using the

04:26tool to find that nice big winner here coherent is going to be the next stock on our list that's

04:31ticker cohr they climbed 14.3 percent after it reported revenue of 1.58 billion which was up 17

04:39percent year over year and earnings of one uh excuse me or eps of 1.16 compared to the 67

04:45cent estimate in the same quarter of the previous fiscal year

04:48you

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