S&P 500, Nasdaq futures tumble ahead of earnings rush as valuation worries creep in

📊 Palantir shares fall after record run-up despite sales surge

Palantir Technologies Inc. raised its annual revenue outlook to $4.4 billion and outpaced analyst estimates for third-quarter sales, though the shares declined in after-hours trading on concerns about the company’s lofty valuation after a record run-up.

Palantir shares fell about 3% in extended trading after earlier gaining as much as 7% following the report. Investors have sent the shares up more than 150% so far this year, closing Monday at a record $207.18.

The company had a price-to-sales ratio of 85 as of Friday - the highest in the S&P 500 Index. Yahoo Finance reports.


🌫️ Amazon's $38 billion OpenAI deal shows it is no longer an AI laggard

Amazon's $38 billion cloud deal with OpenAI marks a major endorsement for the e-commerce giant's cloud business after recent setbacks, including ceding market share to rivals and an outage that disrupted large parts of the internet.

After years of leading the cloud computing industry with its highly profitable Amazon Web Services (AWS) business, Amazon has watched Microsoft and Alphabet's Google snatch big-ticket contracts with their AI-steeped clouds. Reuters reports.


🔊 Spotify forecasts profit above estimates on user growth, price hikes

Spotify forecast fourth-quarter profit above Wall Street expectations on Tuesday, betting on robust user growth and a boost from price hikes in the crucial holiday season.

Shares of the company, which competes with Apple and Amazon's music streaming offerings, rose 5.3% in premarket trading. Reuters reports.


🤖 AMD earnings: Here’s what’s needed to keep the stock rally going

Wall Street is seemingly confident that Advanced Micro Devices Inc. will deliver upbeat third-quarter results for its non-artificial-intelligence business. Its AI business, however, could be a different story.

The chip maker’s stock rallied in October on the back of a multiyear agreement with AI leader OpenAI, and the next catalysts for AMD shares could come from earnings on Tuesday and an analyst day later this month.

But demand for AMD’s graphics processing units going into its Tuesday earnings report looks merely “fine,” according to Morgan Stanley’s Joseph Moore, and he’s “not looking for near-term upside” in that segment. MarketWatch reports.


🚙 Tesla's China-made EV sales fall 9.9% y/y in October

Tesla's China-made electric vehicle sales fell 9.9% to 61,497 units in October from a year earlier, reversing a 2.8% increase in September, data from the China Passenger Car Association showed on Tuesday.

Sales of the U.S. automaker's Model 3 and Model Y vehicles made at its Shanghai "gigafactory", including exports to Europe, India and other markets, dropped 32.3% from September. Yahoo Finance reports.


🤖 Verizon, AWS expand tie up with new fiber network to power AI applications

Verizon announced a deal with Amazon Web Services on Monday to build high-capacity fiber routes connecting AWS data centers, aiming to strengthen infrastructure for the next generation of artificial intelligence applications.

The partnership underscores how cloud and telecom giants are racing to meet surging data and network demands from generative AI, which requires fast, secure and resilient connections to process massive workloads.

Under the Verizon AI Connect agreement, the telecom giant will construct long-haul, low-latency fiber pathways to enhance the performance and reliability of AI workloads running on AWS cloud. The companies did not disclose financial details of the deal. MarketScreener reports.

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


TEF: Telefonica
Q3 2025
Before Market Open
Estimate: 0.090
Actual: N/A

BP: BP
Q3 2025
Before Market Open
Estimate: 0.750
Actual: 0.850

GRAB: Grab Hldgs
Q3 2025
Before Market Open
Estimate: 0.020
Actual: 0.010

Time (ET)/ Report/ Period

6:35 AM - Fed Vice Chair for Supervision Michelle Bowman speech - N/A
8:30 AM - *U.S. trade deficit - Sept.
10:00 AM - *Factory orders - Sept.

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