Stock Market Today: S&P 500, Nasdaq Futures Slip, Dow Rises As Trump Signs Bill To Reopen Government—Walt Disney, Applied Materials, Cisco In Focus

Benzinga

U.S. stock futures were swinging on Thursday after Wednesday’s mixed moves. Futures of major benchmark indices were mixed.  President Donald Trump signed the short-term funding bill on Wednesday night after the House of Representatives passed it to end the longest government shutdown in U.S. history, bringing an end to the political stalemate.  Meanwhile, the 10-year Treasury bond yielded 4.08% and the two-year bond was at 3.57%. The CME Group's FedWatch tool‘s projections show markets pricing a 55.6% likelihood of the Federal Reserve cutting the current interest rates during its December meeting.

Transcript

00:00All right. Futures under a bit of pressure here today after yesterday's session. S&P futures down

00:110.2% here ahead of the open. Dow futures down 0.12% and the NASDAQ futures down 0.2%. So

00:18definitely a little bit of pressure here, but not crazy in either direction, frankly. All right,

00:26let's take a look at some cues from last session here. Most sectors on the S&P 500 closed on a

00:30positive note with healthcare, financials, and material stocks recording the biggest gains on

00:36Wednesday. President Trump signed the short-term funding bill on Wednesday right after the House

00:41passed it to end the longest government shutdown in U.S. history. Yay, it's over. Great, bringing an

00:48end to the political stalemate. The 10-year Treasury bond yielded 4.08% and the two-year bond was at

00:543.57%. Now, we do have some stocks in focus here. The first one, and just like yesterday,

00:59is going to be Cisco, ticker CSCO. That jumped 7.04% in the pre-market on Thursday after reporting

01:05upbeat financial results for the first quarter. They reported that last night here. We take a look

01:10at Cisco. The EPS was $1. That beat the 98-cent estimate, so a 2-cent beat there. Sales were $14.88

01:17billion, and that beat the $14.76 billion estimate, so a small beat there, and it traded

01:24up. The one takeaway that I have here, and I'd love to get your folks' thoughts on all of this

01:30and what this means for these individual stocks, but also some others. We saw CoreWeave report good

01:36earnings. They were down 16%. We see Cisco basically report slightly better than inline, and they're up

01:417%. So I think this is probably the picks and shovels angle of the AI and data center trade

01:46that we have been talking about. I'd like to expand on that a little bit more. The second stock in our

01:51list here today is going to be Disney. That's ticker DIS, and that's actually down here now. Disney was

01:570.29% higher ahead of its earnings scheduled to be released before the opening. Analysts were expecting

02:04$104 per share on revenue of $22.75 billion. Now, I actually don't have that here in my note sheet,

02:11but let me grab that here for you real quick. Oh, it's thread, so I can't find it easily. Oh,

02:17there we go. Disney EPS of $111 beat that $104 estimate, and sales were $22.46 billion. That

02:25slightly missed the estimate. Disney here actually at the low is about $111 here. Impulse low broke us

02:32beneath $111. Looks like we're going to retest that. The conference call should be starting here

02:36very soon. The next stock on our list here is going to be Applied Materials. This is ticker AMAT.

02:43They were up 0.55% as analysts are expecting earnings of $2.10 per share on revenue of $6.67 billion.

02:52Next stock on our list here is going to be Sound Thinking. That's ticker SSTI. That fell 3.32%

02:58after reporting worse than expected third quarter financial results and cutting its full year 25

03:04sales guidance below estimates. The next stock that we have on our list and our final stock on

03:09the list here is Dlocal. Ticker here is DLO, D-L-O. That tumbled 11.37% despite beating third

03:16quarter estimates as gross profit margins declined to 37% from 42% in the same quarter last year and 39%

03:27in the previous quarter.

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