S&P 500 Futures Dip Amid Fading Rate Cut Optimism

The Morning Bull - US Market Morning Update Wednesday, Nov, 5 2025

US stock futures are drifting lower before the open, as concerns over fading optimism for upcoming Fed rate cuts and weak economic sentiment take center stage. With Treasury yields sliding and confidence dipping to multi-year lows, investors are weighing the impact of policy uncertainty, sticky inflation, and increased financial stress on the broader market outlook. This is putting pressure on economically sensitive shares as they gauge the direction of growth and rates.

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Top Movers

• Yum! Brands (YUM) surged 7.30% after strong earnings and a strategic review of the Pizza Hut brand.
• Waters (WAT) climbed 6.29% on raised price targets and upbeat Q3 results, which supported further upside.
• Coterra Energy (CTRA) gained 5.99% following higher production guidance and solid quarterly earnings.

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Top Losers

• Zoetis (ZTS) fell 13.78% after revenue guidance was revised lower and its price target was cut by Stifel.
• Oklo (OKLO) declined 11.40%.
• Bloom Energy (BE) declined 9.36%.

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On The Radar

This week, investors face a barrage of high-profile earnings across tech, energy, and payments, alongside consequential economic data moves.

• QUALCOMM (QCOM) reports Q4 results after the close on Wednesday, spotlighting mobile chip demand trends in a tough smartphone market.
• Block (SQ) delivers Q3 earnings Thursday after market, offering a read on payments volume and engagement for consumer fintech.
• ConocoPhillips (COP) announces Q3 results Thursday morning, with focus on production growth and updated guidance in a volatile oil landscape.
• ADP Private Employment Report released this week, shaping expectations around US job growth and future Fed policy shifts.
• The Trade Desk (TTD), Affirm (AFRM), and Monster Beverage (MNST) post earnings Thursday after the bell, each serving as a litmus test for digital advertising, buy now pay later, and consumer discretionary spend.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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