U.S. stock futures are trading lower, pointing to a cautious open driven by a global risk-off sentiment and investor concerns over spending in the artificial intelligence sector. Asian markets declined overnight, reinforcing the weak tone ahead of key economic data.
Stocks to Watch:
- Meta Platforms, Inc.: Shares fell despite strong Q3 revenue, as investors focused on concerns around future AI-related spending.
- NVIDIA Corporation: The stock declined amid a broader sell-off in semiconductor and AI-related companies.
- Nasdaq, Inc.: Shares gained after the company reported better-than-expected Q3 revenue and earnings.
- Booz Allen Hamilton Holding Corporation: The stock is trading higher in the pre-market after reporting Q2 earnings that surpassed analyst estimates.
- Schlumberger Limited: The oilfield services company is set to report its Q3 earnings before the market opens today.
Looking ahead, traders will monitor the final Consumer Sentiment report at 10:00 AM ET for insights into consumer health and potential recessionary pressures.