UPDATE: As markets prepare to open on November 18, 2025, futures indicate significant declines for the Nasdaq and S&P 500, continuing a troubling trend that has gripped U.S. equity markets for three consecutive days. Currently, Nasdaq futures are down nearly 1%, while the Russell 2000 and S&P 500 are projected to decline by 0.89% and 0.69%, respectively.
Investors are bracing for a turbulent day as 82% of S&P 500 companies reported earnings surprises, yet overall market sentiment remains bearish. Despite these positive earnings reports, negative outlooks have outnumbered positive forecasts, prompting concerns about the overall economic landscape.
The looming release of Nvidia’s earnings report on Wednesday has heightened anxiety among traders. As the world’s most valuable firm, Nvidia’s performance could reveal critical insights into the health of the AI sector and data center trades, areas that have recently displayed volatility due to market sentiments.
In the cryptocurrency world, Bitcoin has plunged below $90,000, raising alarms about the speculative trading environment. The drop is already manifesting in related equities and lower-quality assets, further signaling distress in broader markets.
The potential implications of the Trump tariff case, which has caught the attention of the Supreme Court, may also influence market dynamics. Skepticism has arisen even among conservative justices, suggesting that a ruling could have far-reaching consequences for trade policies.
Additionally, traders are anticipating long-overdue jobs data, originally expected in early October, with September payroll numbers set to be released this Thursday. While the data may not be a major market mover given its delay, it could provide insights into the ongoing slowdown in the labor market, which is a growing concern for investors.
This morning, earnings reports from major companies such as Home Depot, PDD Holdings, and Medtronic are drawing attention. Investors are advised to keep a close watch on these announcements and the weekly ADP Employment Change data, which could shed light on employment trends amid the current economic climate.
As trading begins, all eyes will be on how these factors will shape market movements throughout the day. With the potential for further declines, it is crucial for investors to stay informed and ready to react as developments unfold.
