Market Overview - Futures are trading modestly higher after a risk-off day, with the NASDAQ leading the sell-off, closing over 2% lower due to a significant drop in Palantir despite better-than-expected results [2] - The S&P 500 and Dow Jones Industrial Average managed to recover some losses, closing at 6771 and 47,085 respectively, while the NASDAQ closed at 23,348 [2] - Concerns about AI valuation and warnings from top Wall Street bankers about an overbought market contributed to the selling pressure [2][5] Treasury Bonds - Yields across the Treasury curve fell as investors sought the safety of U.S. government debt, with the 10-year bond closing at 4.0% and the 30-year bond at 4.67% [3] - Shrinking job openings to the lowest level since 2021 may support expectations for a December rate cut, as Fed Governors suggest current rates are too restrictive [3] Oil and Gas - Brent Crude and West Texas Intermediate prices declined due to the equity market sell-off and speculation that Russian sanctions may not be as severe as anticipated [4] - Natural Gas prices increased by 1.15% to $4.31, with expectations that the energy trade for 2025 and 2026 may focus on Natural Gas due to rising power demands from AI cloud computing [4] Technology Sector - The technology, AI, and Data Center sectors experienced significant selling pressure, leading to concerns among "Buy the Dip" investors [5] - The focus is shifting towards economic data as the third-quarter earnings season concludes, with investors questioning the potential for a December rate cut [5]

Market Overview - Major indexes experienced a decline, with the Dow down 251 points (-0.53%), S&P 500 down 80 points (-1.17%), Nasdaq down 486 points (-2.04%), and Russell 2000 down 43 points (-1.78%) [2] - The trading week has shown a downward trend after reaching all-time closing highs, indicating a potential slide in the market [1][2] AI and Crypto Market Sentiment - AI valuations have become increasingly cautious among investors, following significant investments in AI by major tech players and OpenAI, leading to a more wary outlook on future developments [3] - Bitcoin briefly dipped below $100K, reflecting a similar cautious sentiment in the crypto market [3] Q3 Earnings Reports - **Advanced Micro Devices (AMD)** reported Q3 earnings of $1.20 per share, exceeding expectations, with revenues of $9.25 billion, surpassing the consensus of $8.72 billion. The company raised its revenue guidance for Q4, although shares fell by 2% after a year-to-date gain of over 100% [4] - **Amgen (AMGN)** significantly outperformed expectations with Q3 earnings of $5.64 per share and revenues of $9.56 billion, both exceeding analyst forecasts. The company raised its full-year guidance on both top and bottom lines, with product sales growing by 12% year over year [5] - **Rivian (RIVN)** reported a smaller-than-expected loss of -$0.65 per share against an anticipated -$0.72, with revenues of $1.56 billion exceeding the consensus of $1.46 billion. Positive gross profit in three of the last four quarters contributed to a 3.5% increase in shares during late trading [6] - **Super Micro Computer (SMCI)** had mixed results, beating earnings expectations with 35 cents per share but falling short on revenues at $5.0 billion compared to the predicted $5.05 billion. Despite a rapidly expanding order book, shares dropped by 9% in after-hours trading [7] - **Pinterest (PINS)** missed earnings expectations for the fourth consecutive quarter, reporting 38 cents per share against a consensus of 40 cents, with revenues meeting expectations at $1.05 billion. Despite having 600 million global active users, the company struggled to convert this into higher sales, leading to an 18% drop in shares after the close [8]