U.S. stock futures rose slightly as traders anticipated the Federal Reserve's interest rate decision. European markets also saw gains. Following Trump's election victory, investors heavily invested in U.S.-related assets, driving all three major U.S. indices to record highs in the previous session.
Scott Helfstein from Global X ETFs noted that with the election concluded, financial markets might see stability, but investors should remain cautious about geopolitical reactions, which can cause significant price swings but generally balance out over time.
The Federal Reserve is expected to announce a 25 basis points rate cut. Cryptocurrency saw a dip, with Bitcoin hovering around $75,000 after previously reaching a new high.
Meanwhile, Trump Media & Technology Group saw a significant drop of over 14%. Qualcomm (QCOM, Financial) shares surged over 6% pre-market as the company reported a 19% increase in revenue for the fourth fiscal quarter, totaling $10.24 billion. The board has also approved a new $15 billion stock buyback plan.
ARM Holdings saw a decline of over 5% pre-market despite exceeding revenue and profit expectations in their second fiscal quarter, as their guidance fell short of Wall Street predictions.
Nissan reported a second fiscal quarter net loss of 9.3 billion yen and has revised its 2024 fiscal year operating profit forecast to 150 billion yen, along with plans to cut global production by 20% and lay off 9,000 employees. CEO Makoto Uchida announced a voluntary 50% salary cut starting November 2024.
OpenAI has acquired the Chat.com domain to integrate with its ChatGPT, marking another addition to its notable domain collection.
SpaceX announced the sixth test flight of Starship is scheduled for November 18, 2024, providing a 30-minute launch window.
Faraday Future reduced its third-quarter operating loss to $25.2 million from $66.4 million a year earlier, with assets at $449 million and liabilities at $292.3 million.
Israel's defense ministry signed a $5.2 billion agreement to purchase 25 F-15 fighter jets from Boeing, with deliveries beginning in 2031.
