Stock futures are lower this morning following a big tech-fueled rally on Monday amid hopes that the federal government shutdown is set to end soon; the Senate late Monday passed legislation to fund the government through January, sending the measure to the House of Representatives; CoreWeave (CRWV) shares are plunging after its full-year revenue projections came up short of analysts’ expectations; and Advanced Micro Devices (AMD) is expected to provide important AI updates at its financial analyst day event. Here’s what you need to know today.
1. S&P 500, Nasdaq Futures Slip After Monday’s Rally
Stock futures are down slightly after major market indexes soared to begin the week on optimism about developments in Congress that indicate the six-week U.S. government shutdown is nearing an end. Futures tied to the tech-focused Nasdaq and the benchmark S&P 500 were recently down 0.4% and 0.2%, respectively, while Dow Jones Industrial futures ticked higher. Bitcoin was trading at around $104,600, down from an overnight high of above $107,000. Gold futures were up 0.5% at $4,145 an ounce, adding to the previous session’s big gains and trading near a three-week high. The bond market is closed Tuesday in commemoration of the Veterans Day federal holiday.
2. Senate Passes Funding Bill That Could Bring Shutdown to an End
The Senate on Monday passed legislation that would fund the government through January, which could bring an end to the longest shutdown in U.S. history. The bill passed on a 60-40 vote and will now head to the House of Representatives. President Donald Trump has said he supports the funding legislation. The shutdown, now in its 42nd day, has choked off government economic reports and led to flight delays amid staffing issues with air traffic controllers. A vote in the House on the legislation could come as early at 4 p.m. on Wednesday.
3. CoreWeave Shares Fall After Revenue Guidance Misses Estimates
Shares of cloud computing company CoreWeave (CRWV) are tumbling in premarket trading after the Nvidia partner issued disappointing guidance. CoreWeave reported that its third-quarter revenue jumped 134% to $1.36 billion, slightly above projections of $1.3 billion, according to analysts tracked by Visible Alpha. The company’s adjusted losses per share of 22 cents also came in better than the analyst consensus of a 35 cents-per-share loss. However, the company said it sees 2025 revenue coming in between $5.05 billion and $5.15 billion, below the consensus of $5.29 billion. CoreWeave shares, which have more than doubled since the company’s initial public offering in March, were down 9% ahead of the bell Tuesday.
4. AMD Expected to Provide Updates on AI Roadmap
Advanced Micro Devices (AMD) is set to hold its first-ever financial analyst day on Tuesday, and investors will be watching for updated financial targets from the chipmaker. Last week, AMD posted record quarterly results and issued an upbeat outlook on surging demand for its data center chips. CEO Lisa Su is widely expected to offer more details on the company’s artificial intelligence roadmap at today’s event, which is scheduled to start at 1:00 p.m. ET. AMD shares were down slightly in premarket trading after rising more than 4% on Monday. You can watch the live stream of the AMD event here.
5. Why Warren Buffett Isn’t Selling His Berkshire Shares Just Yet
Berkshire Hathaway CEO Warren Buffett, in a letter to shareholders on Monday, sought to allay investor concerns about his upcoming retirement and instill confidence in his successor, Greg Abel. Buffett said he plans to keep a “significant” number of Berkshire’s Class A shares until shareholders “develop the comfort” with Abel, who will take over as CEO at the end of this year. Buffett, who has helmed the conglomerate for 60 years, said in the letter that he converted 1,800 “A” shares—worth about $1.3 billion—to “B” shares, which were donated to four family-run foundations. He also said he will no longer be writing the company’s annual report or “speak endlessly” at the annual meeting, but he will continue to write an annual Thanksgiving letter. Berkshire (BRK.A, BRK.B) shares have fallen 8% since Buffett announced in May that he would be stepping down at the end of this year. They ticked higher in premarket trading Tuesday.
