Stock futures were moving higher early Monday ahead of a busy week that includes the presidential election and a Fede🉐ral Reserve decision on interest rates.
Berkshire Hathaway (BRK.A; BRK.B) shares were lower after the Warren Buffet-led conglomerate reported declining earnings while reducing its holdings of Apple (AAPL) and Bank of America (BAC). Shares of Nvidia (NVDA) and Sherwin-Williams (SHW) moved higher ahead of their inclusion in the Dow Jones Industrial Average, replacing Intel (INTC) and Dow (DOW). Palantir Technologies (PLTR) shares decline despite analysts seeing 26% jump in quarterly revenue in upcoming earnings report. Boeing (BA) shares were up ahead of a vo𒀰te today from its machinists union on a new labor co🌞ntract that would end a nearly two-month workers strike.
Here's what investors need to know today.
1. Stock Futures Movi🦩ng Higher𒊎 Ahead of Election, Fed Rate Decision
Stock futures trended higher premarket as market watchers are bracing for a week that includes Election Day on Tuesday and a key 澳洲幸运5开奖号码历史查询:Federal Reserve interest-rate decision on Thursday. Investors look to 澳洲幸运5开奖号码历史查询:build on the ga🔜ins from Friday’s session, when stocks moved higher after all three major indexes closed October in the red. Oil prices were higher by more than 2% after the Or🐼ganization of the Petroleum 🐟Exporting Countries (OPEC), along with allies that include Russia, announced it would extend output cuts through December. Treasu🌄ry yields were slightly lower, with the yield onജ the benchmark 10-year Treasury at around 4.28%.
2. Berkshire Earnings Fall, Cash Pile Grows As It Sells Apple, Bank of America Share🔯s
Conglomerate Berkshire Hathaway reported that its 澳洲幸运5开奖号码历史查询:profits fell in the third quarter as it trimmed its holdings of both Apple and Bank of America. Berkshire reported third-quarter operating earnings of $10.1 billion, down from $10.7 billion a year ago and $11.6 billion in the prior quarter. It also reported a record level of cash holdings at $320.3 billion, up from $271.5 billion in the second quarter. The Warren Buffet-led company also said it had paused 澳洲幸运5开奖号码历史查询:share buybacks.
Berkshire Hathaway shares were down slightly in p🎐remarket trading. Apple and Bank of America also traded lower.
3. Nvidia To Replace Intel in♛ the Dow, Sherwin-William🐠s Also Joins Index
Chipmaker Nvidia will 澳洲幸运5开奖号码历史查询:re🃏place rival semiconductor manufacturer Intel in the 澳洲幸运5开奖号码历史查询:Dow Jones Industrial Average, while paint producer Sherwin-Williams will also join 🍸the blue-chip index in place of chemiꦓcal firm Dow. S&P Dow Jones Indices said the changes to the index will come before the start of trading on Friday, Nov. 8.
Nvidia’s inclusion in the index comes as its 澳洲幸运5开奖号码历史查询:share price has surged on demand for 澳洲幸运5开奖号码历史查询:artificial intelligence (AI), while Intel’s shares have lost more than half oꦑf their value this year. Shares of Nvidia traded higher by more than 2% in premarket trading, while Sherwin-Williams shares gained more than 4%. Shares of both Intel and Dow traded lower.
4. Palantir Dips Ahea🌳d of Earnings as Analysts See Share Price Falling
Palantir Technologies shares were more than 1% lower ahead of the software provider's third-quart꧑er earnings report, due after markets close today. Analysts surveyed by Visible Alpha are projecting that Palantir will grow its revenue by 26% in the quarter to $704.9 million, while its expected 澳洲幸运5开奖号码历史查询:earnings per share of 5 cents woꦏuld be up from 3 cents per share a year earlier🍎.
Shares of Palantir are up nearly 40% since September, but of the 12 analysts coveꦫring Palantir, only two projected a further rise in the ℱcompany’s shares, with the average price target of $27.55 coming in 34% lower than its Friday closing price.
5. Boeing Shares Higher Ahead of Machinꦑist Union Vote
Shares of Boeing edged higher in premarket trading ahead of a vote today by the aerospace giant’s machinist unio💞n that could end the strike that has lasted nearly two months. The International Association of Machinists will vote on the new offer from Boeing that includes 38% pay increases, along with a ratification bonus that workers can elect to use as part of their retirement savings. The union 澳洲幸运5开奖号码历史查询:rejected a previous offer fr♍oꦦm Boeing that included a 35% pay hike, extending the strike that began on Sept. 13. Boeing recently raised around $19 bill♌ion in stock and depositary share sales as the company looks to shore up its finances.