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Let’s get to the three things you need to know today. First up, US stock futures are pushing higher after equities closed out a third day of gains. The S&P 500 is now trading above its 50-day moving average, a sign of technical support for stocks. And despite concerns over valuations and the Federal Reserve’s path forward, Wall Street remains bullish on the stock market. Deutsche Bank, Societate General and JP Morgan all boosting their 2026 targets for the benchmark index. JP Morgan also sees the benchmark potentially reaching 8,000
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should the Fed easing continue. Plus, HP and Dell are out with earnings. HP sinking after its profit forecast fell short of estimates. The company also announced it plans to cut up to 6,000 jobs by using more AI tools. Those cuts will result in gross savings of a billion dollars annually. Meanwhile, Dell is gaining today on its outlook for AI server shipments. The company did slightly miss on revenue estimates for its third quarter, but Wall Street appears to be focused on the company’s AI momentum. And speaking of artificial
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intelligence, Nvidia shares recouping some of Tuesday’s losses. Nvidia fell after reports the company’s losing ground to competitors like Alphabet. The stock is now down 14% since the start of the month, erasing more than $700 billion dollars in market value. Meanwhile, famed short seller Jim Chanos is raising concerns about Nvidia regarding circular financing. He told Yahoo Finance the chip giant is putting cash into money- losing companies in order for those businesses to order their chips.
