Morning Movers: Deere and Walmart fall following quarterly results

Stock futures are trading lower as investors continue to grapple with rising Treasury yields, sticky inflation concerns and renewed geopolitical tension. The recent climb in long-dated Treasury yields has been noteworthy, with the 10-year yield hovering around 4.6% and the 30-year yield above 5%, levels that have pressured equity valuations and raised concerns that borrowing costs could stay elevated longer than markets previously expected.

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Technology shares were mixed following earnings from Nvidia, which topped expectations and included an $80B buyback authorization. Meanwhile, AI-linked and quantum computing names surged after the U.S. government announced major funding initiatives benefiting companies tied to advanced computing infrastructure.

Energy markets were back in focus after reports suggested Iran intended to maintain near-weapons-grade uranium stockpiles, reigniting fears of potential disruption in the Strait of Hormuz. Oil prices climbed sharply on the headlines, reviving worries that higher energy costs could complicate the Federal Reserve’s inflation fight and delay any meaningful rate cuts. 

In pre-market trading, S&P 500 futures fell 0.35%, Nasdaq futures fell 0.54% and Dow futures fell 0.30%.

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

HIGHER –

• Applied Digital (APLD) up 9% after disclosing pact with a hyperscaler for its fourth AI Factory campus

UP AFTER EARNINGS –

• Elf Beauty (ELF) up 8%
• Nio (NIO) up 6%

UP AFTER $2B IN TRUMP ADMINISTRATION GRANTS –

• Infleqtion (INFQ) up 23%
• D-Wave Quantum (QBTS) up 15%
• Rigetti Computing (RGTI) up 13%
• GlobalFoundries (GFS) up 13%
• IBM (IBM) up 6%

DOWN AFTER EARNINGS –

• Intuit (INTU) down 15%
• NetEase (NTES) down 4%
• Deere (DE) down 3%
• Walmart (WMT) down 2%