U.S. stock futures are pointing lower as investors look ahead to the Federal Reserve’s two-day meeting that begins today; Palantir (PLTR) shares are sinking in premarket trading after the firm’s results failed to impress investors; Ford (F) stock is falling after the automaker suspended its outlook amid tariff uncertainty; and shares of DoorDash (DASH) are declining after it reported first-quarter results a day early and inked a deal to buy U.K. food-delivery firm Deliveroo for nearly $4 billion. Here’s what investors need to know today.
1. US Stock Futures Point Lower Amid Continued Tariff Tensions
U.S. stock futures are pointing lower as investors wait on developments from tariff talks and ready for this week’s two-day Federal Reserve meeting. S&P 500 and Dow Jones Industrial Average futures are 0.8% and 0.7% lower, respectively, after the indexes fell for the first time in two weeks yesterday. Nasdaq futures are down 1.1% after the tech-focused index fell 0.7% in the prior session. Bitcoin (BTCUSD) is slightly lower at around $94,000. Oil and gold futures are moving higher, while yields on the 10-year Treasury note are little changed.
2. Federal Reserve Meeting Begins as Powell Faces Pressure on Rate Cuts
The Federal Reserve on Tuesday begins a two-day meeting in which it will decide whether to adjust interest rates that have been in place since January. According to the CME Group’s FedWatch tool, investors don’t anticipate that the Fed will change interest rates from their current levels of 4.25% to 4.5%. The meeting comes after last week’s jobs report showed the labor market was steady, while inflation in March came in unchanged. President Donald Trump has pressured Fed Chair Jerome Powell to lead the central bank to further lower interest rates, while officials have said they are taking a “wait-and-see” approach as more data comes in.
3. Palantir Stock Drops as AI Software Maker’s In-Line Results Disappoint
Palantir (PLTR) shares are sinking by more than 7% in premarket trading after the software firm posted quarterly results that were largely in line with analysts’ estimates, as investors may have been expecting more from the artificial intelligence (AI) software provider. The company reported first-quarter revenue of $884 million, up 39% year-over-year and above Visible Alpha consensus, while its adjusted profit of 13 cents was in line with expectations. Palantir raised its full-year revenue outlook to between $3.89 billion to $3.9 billion, well above consensus.
4. Ford Stock Falls as Automaker Suspends Outlook Amid Tariff Uncertainty
Ford (F) shares are down more than 2% in premarket trading after the automaker reported better-than-expected results but suspended its full-year outlook amid uncertainty over tariff impacts. Ford said it expects to take a $1.5 billion hit to its adjusted earnings before interest and taxes this year related to tariffs, pointing to “potential for industrywide supply chain disruption.” The company reported adjusted earnings per share of 14 cents for the first quarter, down 71% year-over-year, on revenue that fell 5% to $40.7 billion.
5. DoorDash Stock Slips as Firm Reports Soft Revenue, Two Acquisitions
DoorDash (DASH) shares are declining 3% in premarket trading after the food-delivery service reported first-quarter revenue below expectations and announced a pair of acquisitions. DoorDash posted revenue of $3.03 billion, while analysts polled by Visible Alpha expected $3.10 billion. DoorDash also announced it was acquiring U.K. delivery firm Deliveroo for about 2.9 billion pounds ($3.86 billion) in cash, expanding its geographic reach, as well as restaurant booking platform SevenRooms.
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