Dow Jones Today: Stock Futures Lower as Investors Digest Flurry of Earnings Reports

GM Stock Soars on Strong Results, Outlook Boost

30 minutes ago

General Motors (GM) shares surged Tuesday after the biggest U.S. carmaker posted better-than-expected results and raised its profit guidance on steady pricing and cost controls.

The company reported third-quarter adjusted earnings per share (EPS) of $2.96, with revenue increasing more than 10% to $48.76 billion. GM also increased the low ends of its full-year net income, adjusted earnings before interest and taxes (EBIT), and EPS guidance.

In a letter to shareholders, Chief Executive Officer (CEO) Mary Barra wrote that during the quarter GM showed higher profitability from EVs and its redesigned SUVs, improved performance in China, and cost discipline along with a focus on capital efficiency.

JPMorgan said in a note to clients that the company benefited from “stronger-than-expected industry pricing and stronger pricing for GM vehicles relative to the industry.” Wedbush analyst Dan Ives said that the results were a testament to the company’s goals of trying to balance production and profitability, calling it “a large step in the right direction as management continues to navigate the choppy waters.”

GM shares were up 8% in recent trading, at their highest levels since early 2022.

–Bill McColl

Nvidia Price Levels to Watch With Stock Near Record High

1 hr 20 min ago

Nvidia (NVDA) shares were up slightly in early trading Tuesday after surging to a new record high yesterday amid optimism about the company’s dominance of the AI chip market and insatiable demand for its next-generation Blackwell GPU architecture.

The relative strength index indicates bullish price momentum and gives a reading below overbought levels, suggesting the stock has ample room to test higher prices.

A bars pattern, which extracts the stock’s trend higher from April to June and repositions it from the start of the current move higher in early September, projects an upside target on Nvidia’s chart around $180.

During periods of weakness, investors should monitor important support levels around $125, $97, and $76.

Nvidia shares were up 0.3% at around $144 in recent trading.

Read the full technical analysis piece here.

–Timothy Smith

Futures Point to Lower Open for Major Stock Indexes

3 hr 8 min ago

Futures tied to the Dow Jones Industrial Average were down 0.3%.

S&P 500 futures were down 0.4%.

Nasdaq 100 futures were also down 0.4%.