Alibaba beats quarterly revenue estimates

📊 Dow, S&P 500, Nasdaq futures stall after tech's biggest rally since May

US stock futures slipped into the red on Tuesday, struggling to build on a broad tech-led rebound fueled by growing optimism that the Federal Reserve will deliver a rate cut next month.

Futures linked to the Dow Jones Industrial Average ticked 0.1% lower, while those on the S&P 500 edged down roughly 0.2%.

Contracts on the tech-heavy Nasdaq 100 dropped 0.3%, after Monday’s session delivered a strong start to the holiday-shortened trading week.

Meanwhile, investors are keeping close watch on the Fed.

Markets now assign an 80%-plus probability to a quarter-point interest-rate cut in December.

Bets on a cut jumped after Fed governor Chris Waller added fuel to hopes by joining a growing chorus of policymakers advocating near-term easing. Yahoo Finance reports.


🤖 Nvidia shares drop on report of Google challenge in AI chips

Nvidia Corp. shares fell on a report that Meta Platforms Inc. is in talks to spend billions on Google’s AI chips, suggesting the internet search leader is making headway in efforts to rival the industry’s bestselling AI accelerator.

Meta is in discussions to use the Google chips - known as tensor processing units, or TPUs - in data centers in 2027, The Information reported, citing an unidentified person familiar with the talks. Meta also may rent chips from Google’s cloud division next year, the news outlet said.

An agreement would help establish TPUs as an alternative to Nvidia’s chips, the gold standard for big tech firms and startups from Meta to OpenAI that need computing power to develop and run artificial intelligence platforms. Yahoo Finance reports.


🖥️ Amazon to spend up to $50 billion on AI infrastructure for U.S. government

Amazon said Monday it will invest as much as $50 billion to expand its capacity to provide artificial intelligence and high-performance computing capabilities for its cloud unit’s U.S. government customers.

The project is slated to break ground in 2026 and will add nearly 1.3 gigawatts of capacity through new data centers designed for federal agencies, the company said in a blog.

As part of the investment, agencies will have access to Amazon Web Services’ AI tools, Anthropic’s Claude family of models and Nvidia chips as well as Amazon’s custom Trainium AI chips. CNBC reports.


💊 Novartis gets FDA approval for spinal muscular atrophy treatment: Shares rise premarket

Novartis reported Monday that the US Food and Drug Administration has approved Itvisma to treat spinal muscular atrophy, or SMA.

The gene replacement therapy is for children aged two years and older, teens, and adults, the company said, adding that the treatment addresses the genetic root cause of SMA with a one-time fixed dose that does not need to be adjusted for age or body weight.

Itvisma will be available in the US in December. MarketScreener reports.


📊 Salesforce stock continues to dip - Is a retest of lows on the cards?

Salesforce is facing continued headwinds, with its stock price edging closer to a retest of recent lows.

The bearish sentiment surrounding the company has intensified, leading to a year-to-date decline of 32.16%.

This dip reflects growing concerns about the company's growth trajectory, strategic decisions, and broader market conditions.

A key factor contributing to the negative sentiment is the slowing revenue growth.

In the first quarter of fiscal 2026, Salesforce reported a 7.7% year-over-year increase in revenue, a significant deceleration compared to its historical double-digit growth rates. AskTraders reports.

*Estimate and Actual numbers represent Earnings Per Share in US Dollars


URBN: Urban Outfitters
Q3 2026
After Market Close
Estimate: 1.180
Actual: N/A

KSS: Kohl's
Q3 2025
Before Market Open
Estimate: -0.180
Actual: N/A

BBY: Best Buy Co
Q3 2026
Before Market Open
Estimate: 1.310
Actual: N/A

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