S&P 500 futures are down 17 points shortly before today’s open.
One stock in focus is Nvidia, which is up 1.8% pre-market. Late yesterday, CEO Jensen Huang said on CNBC that demand for its next-generation Blackwell chips is “insane”.
“Everybody wants to be first and everybody wants to have the most,” he said.
The company also announced its own open-source LLM.
Dragging stocks down are rising Treasury yields as the market shifts away from a 50 bps cut in November. Of course, those odds will swing further on today’s ISM services report and tomorrow’s non-farm payrolls.