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U.S. stock futures are pointing lower after the S&P 500 closed at a record high yesterday; Walmart (WMT) stock is sinking in premarket trading after its soft outlook worried investors; Alibaba Group (BABA) shares are jumping as the Chinese conglomerate's results beat expectations; Palantir (PLTR) stock continues to move lower after a report that the Trump administration could cut defense spending; and Carvana (CVNA) shares are plunging after the online used car dealer's per-unit revenue for retail vehicles fell nearly 5% year-over-year. Here's what investors need to know today.
U.S. stock futures are edging lower as investors consider the Federal Reserve's interest-rate path and President Donald Trump's latest tariffs proposal. S&P 500 futures are 0.3% lower after closing at a record high in the prior session, while Nasdaq and Dow Jones Industrial Average futures also are pointing lower. Bitcoin (BTCUSD) is up about 1% to trade at more than $97,000, while yields on the 10-year Treasury note are ticking lower. Gold and oil futures are higher.
Walmart (WMT) stock is sinking by 8% in premarket trading after the retail giant's revenue and profit projections were worse than expectations. Walmart's fiscal 2026 guidance for adjusted earnings per share (EPS) of $2.50-$2.60 and revenue growth of 3%-4% were below estimates of analysts polled by Visible Alpha. Its fourth-quarter adjusted EPS of $0.66 and revenue of $180.55 billion came in just above expectations.
U.S.-listed shares of Alibaba Group (BABA) jumped 10% in premarket trading after the Chinese conglomerate reported better-than-expected third-quarter results. Alibaba posted adjusted EPS of 2.67 yuan ($0.37) on revenue of 280.15 billion yuan ($38.60 billion), while analysts were looking for CNY2.38 and CNY278.52 billion, respectively.
Palantir (PLTR) shares are 4% lower in premarket trading after sinking 10% yesterday following a report from The Washington Post that Defense Secretary Pete Hegseth ordered Pentagon officials to cut the U.S. defense budget by 8% annually for the next five years. Defense contractor Palantir reported that more than 40% of its fourth-quarter revenue was from the U.S. government and recently extended a contract with the U.S. Army. The stock had closed at an all-time high Tuesday and set an intraday record Wednesday.
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Carvana (CVNA) shares are plunging 9% in premarket trading even though the company posted results that beat expectations. The used car retailer guided for "significant growth" in both retail units and adjusted EBITDA for full-year 2025. However, Carvana's per-unit revenue for retail vehicles fell nearly 5% year-over-year to $22,312, perhaps spooking investors.
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