Dow, Nasdaq Futures Plunge as AI Fairy Tale Loses Luster
Both the Dow and Nasdaq are off triple digits before the bell
Yesterday’s AI surge was short lived, despite Palantir Technologies’ (PLTR) third-quarter earnings beat, as Wall Street grows weary over market-leading valuations. In response, stock futures are looking grim, with the Dow Jones Industrial Average (DJIA) off nearly 300 points.
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Read MoreStock Market Live November 4: S&P 500 (SPY) Dropping on Palantir Decline
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- While impressive, the market has become nervous about Palantir’s valuation—especially given its 200x forward earnings multiple.
- Right now, the Dow Jones, the NASDAQ,
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Read MoreNASDAQ Index, S&P 500 and Dow Jones Forecasts – US Indices Look Weak for the Open on Tuesday
NASDAQ 100 Technical Analysis
The Nasdaq 100 fell fairly significantly during the pre-market trading session on Tuesday as we have re-entered the trading channel. That being said, I don’t think this necessarily means anything other than gravity came back into play. A bounce is more likely than not. The question is whether we will get it here or at the 25,000 level.
Read MoreStock Market Live November 4: S&P 500 (VOO) Tumbles After Palantir Report, Goldman Sachs Warning
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- Investors are selling off Palantir stock despite the AI defense tech company reporting a “beat and raise” quarter last night.
- Goldman Sachs CEO David Solomon warns stock markets could fall 20% in the next two years.
Here is what's at stake as shareholders prepare to vote on Elon Musk's $1 trillion pay package at Tesla's annual meeting
Tesla is facing a pivotal shareholder meeting.
On November 6, the EV maker will hold its annual meeting, where investors will vote on issues concerning the company’s future direction and the performance of its CEO, Elon Musk.
The meeting comes as the company navigates a year marked by political controversies and struggling sales.
Read MoreThe Burst
Is This 12.2% Yield ETF Too Good to Be True?
Looking for serious income from your portfolio? The ProShares NASDAQ-100 High Income ETF (IQQQ) might catch your eye. This covered call ETF is engineered to generate sizable payouts through the use of derivatives — and on the surface, its double-digit yield looks almost too good to pass up.
But before diving in,
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Read MoreThe Ivy
The Best Way to Bet on China’s AI Boom Might Just Be in South Africa
If someone told you the best way to invest in China’s booming AI ecosystem was through a 100-year-old South African media company, you’d probably do a double take. But here’s the thing that may actually be true, and it all comes down to Tencent and a few brilliantly timed decisions made more than two decades ago.
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Read MoreThe Spotlight
1 Seriously Overlooked Healthcare Stock That Could Soar
Sometimes the seemingly most boring companies in the world produced the most extraordinary returns. One healthcare firm that hasn’t shot up – yet – but which has attracted the attention of a multi-billion dollar fund with a pristine track record may be set to do so.
Better yet, it’s trading close to the estimated price paid by the fund,
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