U.S. stock futures fell on Tuesday morning amid concerns about the elevated valuations of artificial intelligence (AI) stocks, raising the risk of an AI bubble. Moreover, Palantir Technologies (PLTR) stock was down 8% in pre-market trading despite the AI-powered data analytics company reporting upbeat Q3 earnings and a strong outlook. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were down 1.32%, 0.99%, and 0.60%, respectively, at 8:16 a.m. EST on November 4.
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During Monday’s regular trading session, the three major indexes closed mixed due to worries about a potential AI bubble. The Nasdaq Composite rose 0.46%, the S&P 500 added 0.17%, while the Dow Jones slipped 0.48%.
Coming to trending stocks, telehealth platform Hims & Hers Health’s (HIMS) shares were up 1.5% in Tuesday’s pre-market trading after reporting mixed Q3 results. Meanwhile, Uber Technologies (UBER) stock was down 4.4% as a soft earnings outlook overshadowed the company’s Q3 beat.
Looking ahead, investors are closely watching earnings reports from Advanced Micro Devices (AMD), Super Micro Computer (SMCI), Rivian (RIVN), and Pinterest (PINS).
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