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
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.
| Futures | Change (+/-) |
| Dow Jones | 0.02% |
| S&P 500 | -0.15% |
| Nasdaq 100 | -0.22% |
| Russell 2000 | -0.26% |
The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and the Nasdaq 100 index, respectively, were lower in premarket on Thursday. The SPY was down 0.14% at $682.40, while the QQQ declined 0.19% to $619.88, according to Benzinga Pro data.
Stocks In Focus
Cisco Systems
- Cisco Systems Inc. (NASDAQ:CSCO) jumped 7.04% in premarket on Thursday after reporting upbeat financial results for the first quarter.
- Benzinga’s Edge Stock Rankings indicate that CSCO maintains a stronger price trend over the short, medium, and long terms, with a poor value ranking. Additional performance details are available here.
Walt Disney
- Walt Disney Co. (NYSE:DIS) was 0.29% higher ahead of its earnings scheduled to be released before the opening bell. Analysts expect earnings of $1.04 per share on revenue of $22.75 billion.
- DIS maintained a stronger price trend over the short, medium, and long terms, with a moderate quality ranking. Additional performance details, as per Benzinga’s Edge Stock Rankings, are available here.
Applied Materials
- Applied Materials Inc. (NASDAQ:AMAT) was up 0.55% as analysts expect earnings of $2.10 per share on revenue of $6.67 billion, after the closing bell.
- It maintained a strong price trend over the short, medium, and long terms, with a moderate growth ranking. Additional performance details, as per Benzinga's Edge Stock Rankings, are available here.
SoundThinking
- SoundThinking Inc. (NASDAQ:SSTI) fell 3.32% after reporting worse-than-expected third-quarter financial results and cutting its FY25 sales guidance below estimates.
- SSTI maintains a weaker price trend over the short, medium, and long terms, with a poor growth ranking. Additional information is available here.
Dlocal
- Dlocal Ltd. (NASDAQ:DLO) tumbled 11.37% despite beating third-quarter estimates as gross profit margin declined to 37% from 42% in the same quarter last year and 39% in the previous quarter.
- DLO maintained a weaker price trend over the short and medium terms but a strong trend over the long term, with a moderate value ranking. Additional performance details, as per Benzinga’s Edge Stock Rankings, are available here.
Cues From Last Session
Most sectors on the S&P 500 closed on a positive note, with health care, financial and materials stocks recording the biggest gains on Wednesday.
| Index | Performance (+/-) | Value |
| Nasdaq Composite | -0.26% | 23,406.46 |
| S&P 500 | 0.063% | 6,850.92 |
| Dow Jones | 0.68% | 48,254.82 |
| Russell 2000 | -0.30% | 2,450.80 |
Insights From Analysts
BlackRock holds an “overweight” view on U.S. equities. This positive outlook is supported by the firm’s economic forecast.
BlackRock notes that “a softening labor market gives the Fed space to cut” interest rates, and they “think rate cuts amid a notable slowing of activity without recession should support U.S. stocks and the AI theme”.
The AI buildout is a central component of BlackRock’s market view. While acknowledging that “policy-driven volatility and supply-side constraints are pressuring growth,” the firm states, “…we see AI supporting corporate earnings”.
This earnings outlook is key to justifying the market’s position, as BlackRock finds that “U.S. valuations are backed by stronger earnings and profitability relative to other developed markets”.
On the fixed income side, the firm maintains a “neutral” view on long U.S. Treasuries. The commentary also notes that the “longest-ever U.S. government shutdown” will likely delay the release of key economic data, including CPI and retail sales.
See Also: How to Trade Futures
Upcoming Economic Data
Here's what investors will be keeping an eye on Thursday;
- October’s CPI and initial jobless claims for the latest week will be delayed despite the government reopening. New York Fed President John Williams will speak at 9:20 a.m., St. Louis Fed President Alberto Musalem will speak at 12:15 p.m., Cleveland Fed President Beth Hammack will speak at 12:20 p.m., and Atlanta Fed President Raphael Bostic will speak at 3:20 p.m. ET.
- The Monthly U.S. federal budget will be out by 2:00 p.m. ET.
Commodities, Gold, Crypto, And Global Equity Markets
Crude oil futures were trading lower in the early New York session by 0.29% to hover around $58.32 per barrel.
Gold Spot US Dollar rose 0.84% to hover around $4,233.20 per ounce. Its last record high stood at $4,381.6 per ounce. The U.S. Dollar Index spot was 0.31% lower at the 99.1820 level.
Meanwhile, Bitcoin (CRYPTO: BTC) was trading 1.38% lower at $103,081.77 per coin.
Asian markets closed higher on Thursday, except Australia's ASX 200 index. China’s CSI 300, India’s NIFTY 50, South Korea's Kospi, Hong Kong's Hang Seng, and Japan's Nikkei 225 indices rose. European markets were mostly higher in early trade.
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