Stock Market Today: S&P 500, Nasdaq Futures Drop Despite Senate Passing Resolution To Reopen Government—Nvidia, Paramount Skydance In Focus

U.S. stock futures fell on Tuesday after Monday’s rally. Futures of major benchmark indices were lower.

The U.S. Senate passed a 60-40 vote with the support of nearly all of the chamber’s Republicans and eight Democrats. The bill will now proceed to the House of Representatives, and has to be later signed by President Donald Trump to be signed into law.

The bond market will remain closed for Veterans’ Day, according to the Securities Industry and Financial Markets Association (SIFMA).

The CME Group’s FedWatch tool‘s projections show markets pricing a 63.7% likelihood of the Federal Reserve cutting the current interest rates during its December meeting.

Futures	Change (+/-)
Dow Jones	-0.08%
S&P 500	-0.24%
Nasdaq 100	-0.42%
Russell 2000	-0.25%

The SPDR S&P 500 ETF Trust (NYSE:SPY) and Invesco QQQ Trust ETF (NASDAQ:QQQ), which track the S&P 500 index and Nasdaq 100 index, respectively, were lower in premarket on Tuesday. The SPY was down 0.26% at $679.67, while the QQQ declined 0.44% to $620.47, according to Benzinga Pro data.

Stocks In Focus

Nvidia

• Nvidia Corp. (NASDAQ:NVDA) slipped 1.31% in premarket on Tuesday after SoftBank revealed that it sold its entire stake in U.S. chipmaker for $5.83 billion.

• NVDA maintained a stronger price trend over the short, medium, and long terms, with a poor value ranking. Additional performance details, as per Benzinga’s Edge Stock Rankings, are available here.

BigBear.ai Holdings

• BigBear.ai Holdings Inc. (NYSE:BBAI) surged 20.32% as it reported revenue of $33.14 million, beating estimates of $31.82 million, and a third-quarter loss of three cents per share, beating expectations for a loss of seven cents per share.

• Benzinga’s Edge Stock Rankings indicate that BBAI maintains a stronger price trend over the long term but a weaker trend in the short and medium terms, with a poor growth ranking. Additional performance details are available here.

Rocket Lab

• Rocket Lab Corp. (NASDAQ:RKLB) soared 9.50% after it posted revenue of $155.05 million, beating the consensus estimate of $151.75 million and a third-quarter loss of three cents per share, beating analyst estimates for a loss of 11 cents per share.

• RKLB maintained a stronger price trend over the short, medium, and long terms. Additional performance details, as per Benzinga’s Edge Stock Rankings, are available here.

Paramount Skydance

• Paramount Skydance Corp. (NASDAQ:PSKY) gained 4.92% despite missing its third-quarter earnings, but it said it expects an additional $1 billion in merger savings. Also, it announced a new round of layoffs that will affect about 1,600 employees and said it plans to raise the price of its Paramount+ streaming service in the first quarter of next year.

• It maintained a weaker price trend in the short term but a strong trend over the long and medium terms, with a strong value ranking. Additional performance details, as per Benzinga’s Edge Stock Rankings, are available here.

LivePerson

• LivePerson Inc. (NASDAQ:LPSN) jumped 12.79% after reporting better-than-expected results and raising its FY25 sales guidance. The company said it now sees FY2025 sales of $235.00 million to $240.00 million, up from the previous outlook of $230.00 million to $240.00 million.

• LPSN maintains a weaker price trend over the short, medium, and long terms, with a poor growth ranking. Additional information is available here.

Outset Medical

• Outset Medical Inc. (NASDAQ:OM) tumbled 25.68% after reporting worse-than-expected third-quarter financial results and cutting its FY25 sales guidance below estimates.

• OM maintained a weaker price trend over short, medium, and long terms, with a poor growth ranking. Additional performance details, as per Benzinga’s Edge Stock Rankings, are available here.

Cues From Last Session

Sectors gaining on Monday included consumer discretionary, communication services, and information technology, which posted the biggest increases, while consumer staples and real estate bucked the positive market trend, closing lower.

Index	Performance (+/-)	Value
Nasdaq Composite	2.27%	23,527.17
S&P 500	1.54%	6,832.43
Dow Jones	0.81%	47,368.63
Russell 2000	0.94%	2,455.65

Insights From Analysts

Professor Jeremy Siegel describes an economy that is “holding in” but grappling with significant uncertainty, primarily from the ongoing government shutdown.

He warns the shutdown “has the potential to shave 1.5 to 2 or more percentage points off Q4 GDP, depending on its duration”. While the economy’s “engine has refused to stall,” the near-term “fiscal and trade outlook remains clouded by this uncertainty”.

This is compounded by mixed labor data and potential volatility from an upcoming Supreme Court ruling on tariff authority.

In this environment, Siegel notes that financial markets are not complacent, with volatility metrics indicating “market participants [are] hedging their portfolios.”

Despite this caution and the prevalence of “bearish head fakes,” Siegel maintains a constructive, forward-looking view on equities. He points to persistent AI capital expenditure and the Federal Reserve’s “accommodative rate cut path” as key supports.

Ultimately, Siegel states, “I see a better than even chance that dips will be met with fresh buying”.

See Also: How to Trade Futures

Upcoming Economic Data

Here’s what investors will be keeping an eye on Tuesday;

• The bond market will be closed on the occasion of Veterans’ Day. Fed governor Michael Barr will speak at 10:25 a.m., and October’s NFIB optimism index will be released by 6:00 a.m. ET.

Commodities, Gold, Crypto, And Global Equity Markets

Crude oil futures were trading higher in the early New York session by 0.53% to hover around $60.45 per barrel.

Gold Spot US Dollar rose 0.65% to hover around $4,142.84 per ounce. Its last record high stood at $4,381.6 per ounce. The U.S. Dollar Index spot was 0.03% higher at the 99.6220 level.

Meanwhile, Bitcoin (CRYPTO: BTC) was trading 1.33 lower at $105,059.27 per coin.

Asian markets closed mixed on Tuesday, as India’s NIFTY 50, South Korea’s Kospi, and Hong Kong’s Hang Seng indices rose, whereas Japan’s Nikkei 225, Australia’s ASX 200, and China’s CSI 300 indices declined. European markets were also higher in early trade.

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