Morning Movers: Applied Digital jumps on AI enthusiasm

Stock futures are largely muted, as investors await new clues from consumer sentiment data that could pierce through the fog created by the government shutdown. Markets are entering a quieter mode as the lack of fresh macro releases leaves corporate earnings, particularly from banks, standing in for missing economic signals in gauging strength.

Gold remains a standout theme. It recently vaulted past $4,000 an ounce and is now turning heads among asset allocators searching for hedges against policy missteps or macro surprises. That said, the rally in gold is now being questioned by some as overextended, with investors taking profits after a long sustained climb.

In energy, oil pulled back somewhat. The recent ceasefire deal in Gaza softened geopolitical risk premiums, reducing one tailwind supporting crude.

In pre-market trading, S&P 500 futures rose 0.06%, Nasdaq futures rose 0.03% and Dow futures rose 0.17%.

Check out this morning’s top movers from around Wall Street, compiled by The Fly.

HIGHER –

• Compass Diversified (CODI) up 20% as investors pointed to its stake in Arnold Magnetic Technologies, a supplier and processor of rare earth materials
• Stellantis (STLA) up 1% after reporting consolidated shipments for September of 1.3M units, a 13% increase

UP AFTER EARNINGS –

• Applied Digital (APLD) up 28% 

DOWN AFTER EARNINGS –

• Levi Strauss (LEVI) down 8%

LOWER –

• Mosaic (MOS) down 9% after reporting preliminary Q3 segment volumes that prompted a pair of downgrades
• Alliance Laundry (ALH) down 3% after its IPO opening yesterday
• Doximity (DOCS) down 3% after JPMorgan downgraded the stock to Underweight with an unchanged price target of $62