- Futures for the S&P 500 and Nasdaq 100 are down this morning, signaling a lower open on Wall Street due to concerns about the valuations of AI-related stocks like Nvidia and CoreWeave.
- China’s decision to expedite rare earth export approvals for most firms, excluding those tied to the U.S. military, adds uncertainty to the trade truce with the U.S., impacting market sentiment.
- Wall Street indexes closed higher yesterday, with chip stocks like Nvidia and Micron Technology leading gains, while health insurance stocks slumped.
- The U.S. government shutdown is set to end soon as the Senate passes a funding bill, with delayed economic reports expected upon reopening.
- Market analysts weigh in on the potential impact of the government reopening on economic data and the Federal Reserve’s interest rate decisions.
- European markets are up, with the Euro Stoxx 50 gaining, while U.K. and Eurozone economic sentiment reports show mixed results.
- Asian markets close lower, with China’s Shanghai Composite and Japan’s Nikkei 225 down on renewed trade tension concerns and profit-taking.
- Pre-market movers include Nvidia falling after SoftBank Group sells its stake, CoreWeave cutting revenue guidance, and Rocket Lab climbing after strong Q3 results.
Read more at Barchart: Stock Index Futures Slip on AI Caution