U.S. stock futures slipped early Thursday following a rebound in artificial intelligence (AI) and tech-related stocks that eased some investor concerns over valuation risks. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were down 0.42%, 0.28%, and 0.24%, respectively, at 3:38 a.m. EST on November 6.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
During Wednesday’s regular trading session, all three major indexes closed higher, primarily led by gains in tech and momentum stocks. Investor sentiment improved as fears over inflated tech stock valuations faded. Also, positive earnings reports from companies like McDonald’s (MCD) and strong economic data, especially in the services sector, helped boost market sentiment. The Nasdaq Composite gained 0.65%, the Dow Jones added 0.48%, and the S&P 500 rose 0.37%.
Meanwhile, the Supreme Court heard arguments challenging the legality of President Donald Trump’s tariffs, but did not make a decision on Wednesday. It is uncertain when the court will announce its ruling, although the Trump administration has requested a faster decision. The outcome could have significant implications for trade policy, supply chains, and inflation expectations.
There are no economic reports expected today due to the ongoing government shutdown, which has entered its 37th day.
As earnings season continues, investors are closely watching upcoming reports from SoundHound AI (SOUN), Airbnb (ABNB), D-Wave Quantum (QBTS), Opendoor (OPEN), DraftKings (DKNG), and Archer Aviation (ACHR).
Notably, the U.S. 10-year Treasury yield was down, floating near 4.14%. WTI crude oil futures were trending lower, hovering near $59.54 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price increased to nearly $4,013 per ounce on Thursday.
Elsewhere, in Europe, stocks opened mixed on November 6, amid a busy day of corporate earnings and central bank policy updates.
Asia-Pacific Markets Traded Higher Today
Asia-Pacific markets traded mostly higher on Thursday, tracking Wall Street’s rebound in technology shares.
Hong Kong’s Hang Seng index increased 2.12%. In China, the Shanghai Composite rose 0.97%, and the Shenzhen Component added 1.48%. Meanwhile, Japan’s Nikkei gained 1.34%, and the Topix rose 1.38%.
Stay ahead of macro events with our up-to-the-minute Economic Calendar — filter by impact, country, and more.