Dow Futures Trade Flat As Markets Continue To Consolidate: TSLA, APP, DASH, SNAP Among Stocks To Watch

While Dow Jones futures edged lower by 0.02% at the time of writing, the S&P 500 futures rose 0.09%.

• The Trump administration faced skepticism from conservative justices during early arguments in the crucial tariffs case at the Supreme Court.
• This included questioning whether the International Emergency Economic Powers Act authorized President Donald Trump to impose emergency tariffs.
• Asian markets ended Thursday’s trading session on a positive note, with the Hang Seng index gaining the most at 2.03%.

U.S. stocks appear set for a cautious opening on Thursday, as investors take a pause following concerns about AI valuations and the Supreme Court hearing on President Donald Trump’s tariffs case.

The Trump administration reportedly faced skepticism from conservative justices during early arguments in the crucial tariffs case at the Supreme Court. Chief Justice John Roberts and Justice Amy Coney Barrett pressed the Trump administration on a range of issues.

This included questioning whether the International Emergency Economic Powers Act (IEEPA) authorized President Donald Trump to impose emergency tariffs.

Futures Trade Mixed

While Dow Jones futures edged lower by 0.02% at the time of writing, the S&P 500 futures rose 0.09%, while the tech-heavy Nasdaq 100’s futures gained 0.06%. Futures of the Russell 2000 index edged up by 0.01%.

Meanwhile, the SPDR S&P 500 ETF (SPY) was up 0.1% at the time of writing. Invesco QQQ Trust (QQQ) gained 0.06% on Thursday morning, and the SPDR Dow Jones Industrial Average ETF Trust (DIA) declined 0.02%. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bearish’ territory.

Asian Markets Rise

Asian markets ended Thursday’s trading session on a positive note, with the Hang Seng index gaining the most at 2.03%, followed by the Nikkei 225 at 1.38%, and the Shanghai Composite at 0.96%.

The TWSE Capitalization Weighted Stock index gained 0.65%, while the KOSPI rose 0.55%.

Stocks To Watch

• Tesla Inc. (TSLA): Tesla shares edged up nearly 1% in Thursday’s pre-market trade ahead of the results of a shareholder vote on CEO Elon Musk’s $1 trillion compensation plan.
• AppLovin Corp. (APP): AppLovin shares were up nearly 7% pre-market after the company’s third-quarter (Q3) results beat Wall Street expectations. AppLovin reported earnings per share (EPS) of $2.45 on revenue of $1.41 billion, compared to analyst estimates of an EPS of $2.38 on revenue of $1.34 billion, according to Stocktwits data.
• DoorDash Inc. (DASH): DoorDash shares were down nearly 10% pre-market after the company’s mixed performance in Q3. DoorDash reported an EPS of $0.55 on revenue of $3.45 billion, compared to analyst expectations of an EPS of $0.68 on revenue of $3.35 billion, according to Stocktwits data.
• Snap Inc. (SNAP): Snap shares soared 20% in Thursday’s pre-market session after the company’s Q3 results beat Wall Street expectations. Snap reported a loss of $0.06 per share, compared to an estimated loss of $0.12 per share, while its revenue came in at $1.51 billion, slightly above the expected $1.49 billion. The company also announced a partnership with Perplexity AI to integrate the latter’s search engine in the Snapchat app.
• Indie Semiconductor Inc. (INDI), Moderna Inc. (MRNA), and Airbnb Inc. (ABNB) are among the companies scheduled to report their latest quarterly earnings on Thursday.

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