Nvidia is replacing Intel in the Dow Jones Industrial Average, a shakeup that reflects a massive change in the semiconductor industry. Nvidia shares gained 3.2% in overnight trading, while Intel dropped 1.6%. Their Rivals TSMC rose 1.5%; ARM rose 1.2%; NXP Semiconductors rose 4.4%; Super Micro Computer fell 1%.
Apple shares dropped 0.4% in overnight trading. Warren Buffett’s Berkshire Hathaway Inc. further reduced its position in Apple Inc. by 25% during the third quarter, the company’s latest quarterly report indicates.
Donald Trump and Kamala Harris are blitzing through swing states to make their final pitches ahead of Tuesday’s election, with polls suggesting the race is too close to call and the Supreme Court starting to weigh in on legal challenges. Trump Media & Technology shares sank 3.3% in overnight trading. Trump-linked Phunware fell 5.2%. While Tesla shares also dropped 0.5%.
Chinese EV makers gained in overnight trading after October 2024 delivery update. XPeng rose 4.6%; Li Auto rose 3.4%; ZEEKR rose 2.8%; NIO rose 2.4%.
Chewy shares were up 4.9% in overnight trading as the company was selected to join the S&P MidCap 400.
Stonepeak is in advanced talks to acquire Air Transport Services Group, a provider of aircraft leasing and cargo transportation services, for about $3.1 billion including debt, people familiar with the matter said on Sunday. Air Transport shares jumped 10.2% in overnight trading.
Viking Therapeutics reported promising early results for its experimental obesity pill, with increased weight loss at higher doses. Viking stock was indicated sharply higher overnight, set to break out of a base.
