Stock Market Today: Dow Jones, S&P 500 Futures Rise Ahead Of House Vote To Reopen Government—Bill Holdings, AMD, Cisco Systems In Focus

Benzinga

U.S. stock futures rose on Wednesday after Tuesday’s mixed close. Futures of major benchmark indices were higher.  Investors are awaiting a House vote on the temporary spending bill expected to end the record-long government shutdown.  Meanwhile, the 10-year Treasury bond yielded 4.08% and the two-year bond was at 3.56%. The CME Group's FedWatch tool‘s projections show markets pricing a 63.4% likelihood of the Federal Reserve cutting the current interest rates during its December meeting.

Transcript

00:00All right, S&P futures. Well, futures as a whole here, green across the board. S&P futures up 0.37%

00:13ahead of today's open. Dow futures up 0.25%, and the NASDAQ leading the way higher at 0.62%.

00:20So a little bit of strength here ahead of Wednesday morning's open. Let's go ahead and

00:27take a look at some cues from last session. Sectors that gained on Tuesday included

00:32healthcare, energy, and consumer staples. This seems to be the inverse of the big tech trade

00:37that has worked for most of the year. Those sectors which recorded biggest advances and

00:42most segments of the S&P 500 closed positively. Information technology, however, bucked the

00:48overall market trend, closing the session lower. Remember, that's mostly on the news that we got

00:54about SoftBank liquidating NVIDIA's stock position that they had. That pretty much weighed on tech.

01:00Instead of the investor day. They liked what they heard.

01:01U.S. stock futures rose on Wednesday after Tuesday's mixed close. Futures of major benchmark

01:06indices were higher and are holding higher here into the open. Investors are awaiting a House vote

01:12on a temporary spending bill expected to end the record-long government shutdown. Easy for me to say.

01:19Meanwhile, the 10-year Treasury bond yielded 4.08%, and the two-year bond was at 3.56%.

01:26Now, some stocks in focus today. We are going to start with one of our earnings reports for after

01:32the bell today. That's going to be Cisco, ticker CSCO. That was up a half a percent in the pre-market

01:37on Wednesday, as analysts expect it to report quarterly earnings of 98 cents per share on revenue

01:42of $14.77 billion. Again, that comes after the closing bell here today. The second stock on our list

01:48is going to be AMD, Advanced Micro Devices. They jumped 5.13% in the pre-market after its

01:55analyst day on Tuesday, which was several hours long, during which the company made bold projections

02:01regarding its near-term future and that of the broader AI and chip data center industry. So I have

02:08a story on that. We're going to dive into that here a little bit more. AMD plus 5% here this morning.

02:14Bill Holdings, ticker B-I-L-L, that surged 13.12% after a Bloomberg report revealed that the provider

02:23of financial operations platform for small and medium businesses is eyeing a potential sale.

02:29So that's trading up here, 13.12%. If you take a look at Bill here this morning, it reached a high of

02:38about $55 in the after hours yesterday, sitting right at 53. In fact, a $53 bid out there right now in the

02:47pre-market. Next stock on our list here is going to be Total Energies. This is ticker TTE. That rose 0.72%

02:54after inking an agreement with Alphabet, ticker G-O-O-G or G-O-O-G-L, to supply a 1.5 terawatt hours of

03:02renewable electricity from its solar farm in Ohio for 15 years. Last stock on our list here is going

03:10to be Alcon AG. That's ticker ALC. We work with all of the largest hyperscalers in the world, all of the

03:14largest enterprises. And if you looked at sort of the AI trajectory. The company says it sees full year

03:1925 earnings of 305 to 315 per share on sales of 10.3 to 10.4 billion.

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