A former Senior Publishing Editor on the Dow Jones Newswires team at The Wall Street Journal, Aaron earned a Bachelor’s degree in Economics from the University of Michigan and a Master’s in Journalism from Columbia University.
Stock futures pointed mostly lower Wednesday, the record-breaking 36th day of the U.S. government shutdown, after major indexes dropped yesterday on concerns about an AI bubble.
Futures associated with the tech-heavy Nasdaq, benchmark S&P 500, and blue-chip Dow Jones Industrial Average were down a respective 0.4%, 0.3%, and 0.1%.
Yesterday, the indexes all finished in the red, with the Nasdaq dropping 2% as Palantir Technologies (PLTR) shares dropped 8% even though the AI software company posted record quarterly results and raised its full-year revenue outlook. Palantir shares, which entered Wednesday up more than 150% this year, fell a further 3% before the bell.
Similarly, shares of Advanced Micro Devices (AMD) were pulling back 5% even though the firm late Tuesday reported record quarterly results above analysts’ projections as booming demand for AI helped boost sales of its data center chips.
In post-earnings moves, Pinterest (PINS) stock dropped 18%, Super Micro Computer (SMCI) sank 9%, McDonald’s (MCD) slipped 1%, Humana (HUM) fell 3.5%, and U.S.-listed shares of Novo Nordisk (NVO) rose 1.5%.
Bitcoin, which yesterday fell below $100,000 for the first time since June, was trading around $102,000, up from the day’s low of below $99,000. The U.S. dollar index, which tracks the value of the greenback against a basket of foreign currencies, was little changed at 100.16.
The 10-year Treasury yield, which influences interest rates on all kinds of consumer loans, ticked lower to 4.08% from 4.09% at yesterday’s close. Gold futures ticked 0.2% higher to $3,970 an ounce, while West Texas Intermediate futures, the U.S. crude oil benchmark, fell 0.5% to $60.30 a barrel.
