U.S. stock futures are little changed after hitting new highs after the presidential election of Donald Trump; bitcoin (BTCUSD) is pulling back after nearing the $90,000 level, while shares of cryptocurrency-related stocks like Marathon Digital parent MARA Holdings (MARA) and Riot Platforms (RIOT) are moving lower; Tesla (TSLA) shares are declining in premarket trading after surging on continued optimism over the company's ties to the president-elect and its artificial intelligence (AI) technology; Home Depot (HD) shares are rising after it topped quarterly expectations and raised its full-year outlook; and shares of Monsanto parent Bayer are sinking in German trading after the 💜conglomerate lowered its earnings target on weaker grain prices. Here's what inve🌄stors need to know today.
1. US Stock 𓂃Futures Little Changed Following P💜ost-Election Surge
U.S. stock futures are little changed after major indexes posted another 澳洲幸运5官方开奖结果体彩网:strong session on Monday to build on the record highs set following the presidential election of Donald Trump. Yesterday, the 澳洲幸运5官方开奖结果体彩网:Dow Jones Industrial Average added more than 300 points to close above 44,000. Futures contracts for the 澳洲幸运5官方开奖结果体彩网:S&P 500 and Nasdaq also ticked lower in early trading after inching higher in the prior ses🅠sion.
2. Bitcoin Pulls Back, Crypto Stocks Fall
After surpassing a high mark of more than $89,000, bitcoin (BTCUSD) recently was trading 2% lower at around $87,000, helping depress other cryptocurrency-related investments in premarket trading. 澳洲幸运5官方开奖结果体彩网:Coinbase Global (COIN), Marathon Digital parent MARA Holdings (MARA), and Riot Platforms (RIOT) were all lower, down 2.4%, 3.4%, and 5%, respectively. Crypto 澳洲幸运5官方开奖结果体彩网:exchange-traded funds (ETFs), such as iShares Bitcoin Trust () ꦇand Grayscale Bitcoin Trust (), were little changed.
3. Tesla Stock Slips After Surging on CEO Musk's Trump Ties
Shares of Tesla (TSLA) are 1% lower in premarket trading after 澳洲幸运5官方开奖结果体彩网:surging nearly 9% in the prior session to hit a price of $350. The electric vehicle (EV) maker continues to surge on enthusiasm around CEO 澳洲幸运5官方开奖结果体彩网:Elon Musk's ties to the incoming administration as an adviser to the president-elect Donald Trump. Yesterday, Wedbush analysts raised their price target on Tesla to $400 from $300, estimating that the autonomous vehicle and 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) opporꦉtunities will be worth $1 trillion for the company.
4. Home Depot Shares Move Higher After Lifting 🃏Sales Out♏look
Home Depot (HD) shares are rising 1.5% in premarket trading after the ღ澳洲幸运5官方开奖结果体彩网:retailer posted beဣtter-than-expected results for the third quarter, while also lifting its 2024 sales outlook. The company reported quarterly profit of $3.65 billion on revenue of $40.22 billion, topping estimates of analyst polled by Visible Alpha. Home Depot also upped its fiscal-year projected revenue growth to about 4%, up from 2.5% to 3.5% previously, while shifting its projection for 澳洲幸运5官方开奖结果体彩网:comparable store sales, no🐭w expecting them to fall 2.5% from last year rather than a 3% to 4% decline.
5. Bayer Stock Dives🔥 After Lowering Full-Year Earnings Target
Shares of Bayer were 11% lower in German trading after the conglomerate 澳洲幸运5官方开奖结果体彩网:lowered its𝐆 full-year earnings💧 target amid a challenging agricultural market. The Monsanto parent said it now expects 2024 EBITDA before special items of between 10.4 billion euros ($11.05 billion) and 10.7 billion euros ($11.37 billion), down from its previous range of between 10.7 billion euros and 11.3 billion euros. The agricultural sector has been hit by larger Latin American corn harvests and bumper U.S. crops that have hurt grain prices this year. Agricommodities trader Archer Daniels Midland (ADM) last week cut its 2024 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) outlook, citing ongoing headwinds from slower market demand.