Morning Briefing: Palantir stock is surging on a big army contract win

Moomoo Breakfast US wrote a column · Oct 6, 2021 05:42

Morning Briefing: Palantir stock is surging on a big army contract win

By Julianna

Hey, mooers! Here are things you need to know before the opening bell:

- U.S. stock futures pointed to a big decline Wednesday as October continued to be volatile amid concerns about rising rates, higher inflation, the state of the reopening and the debt limit.

- Palantir Technologies stock is trading sharply higher after the software company said it won the vast majority of an $823 million program to provide data and analytics software to the Army.

Market Snapshot

U.S. stock futures pointed to a big decline Wednesday as October continued to be volatile amid concerns about rising rates, higher inflation, the state of the reopening and the debt limit.

Futures on the Dow Jones Industrial Average fell 346 points, or 1%. S&P 500 futures shed 51 points and Nasdaq 100 futures lost 194 points.

Source: Bloomberg

Top News

U.S. stock futures and global indexes decline

Stock futures fell, suggesting Wall Street indexes will pull back from the prior day's rally.

Biden backs Powell after Sen. Elizabeth warren intensifies opposition

The Fed chairman, whose term expires in four months, has tried to quell a controversy over officials' investment activities

World's largest palm oil producers rally on tight supply

Shares of some of the world's largest palm oil producers jumped as prices of the edible oil look set to hit another record high.

Democrats wrangle over how to shrink $3.5 trillion proposal

Lawmakers wrestled with how to squeeze their healthcare, education and climate wish lists into a package whose size and scope centrists in the party are willing to support.

Mark Zuckerberg breaks silence on whistleblower testimony

The CEO said $Meta Platforms (FB.US)$'s work and motives have been mischaracterized, and he pledged that he would continue pursuing internal research into potential harms of social media.

Google rolls out emission-curbing tools for nest thermostat

$Alphabet-C (GOOG.US)$ $Alphabet-A (GOOGL.US)$says changing people's behavior around energy use will become crucial as more power comes from intermittent renewable energy sources.

Palantir stock is surging on a big army contract win

$Palantir (PLTR.US)$ stock is trading sharply higher after the software company said it won the vast majority of an $823 million program to provide data and analytics software to the Army.

Carl Icahn holds significant stake in Southwest Gas, opposes planned deal

The activist investor is pushing the Nevada utility to abandon a planned acquisition of Dominion Energy's Questar Pipeline and focus on improving its share price instead. $Southwest Gas Holdings (SWX.US)$

Hertz names former Ford CEO as interim chief

The leadership change comes as the car-rental company resets after emerging from bankruptcy under new ownership. $HERTZ GLOBAL HOLDINGS INC (HTZGQ.US)$ $Ford Motor (F.US)$

Tesla sued Rivian over batteries, EV trade secrets. It's not a big deal, yet

AMC begins accepting Dogecoin for digital gift cards

Key Events This Weeks