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The Government Shutdown Now Ties the Longest Ever at 35 Days
No Economic Data Will Be Out Until Private-Sector ADP Tomorrow
Big Earnings Morning from Companies Like PFE, BP, SHOP & More
Tuesday, November 4, 2025
Pre-market futures are sinking on valuation concerns this morning. This is not from any particular event that happened this morning, though it may have something to do with events that aren’t happening. This morning was to bring us new U.S. Trade Deficit figures, Factory Orders, and Job Openings and Labor Turnover Survey (JOLTS), but due to the government shutdown — now tied with the longest ever, with 2018-2019, at 35 days — are not out.
The Dow is selling off -304 points, -0.64%, and the S&P 500 -80, -1.16%, at this hour. The Nasdaq is shedding -416 points, -1.59%, and the small-cap Russell 2000 -34, -1.40%. This is illustrated cleanly by the -8% selloff in Palantir (PLTR - Free Report) shares this morning, after the company easily outperformed estimates in its quarterly report yesterday afternoon. Then again, at +174% stock growth year to date with a 300x P/E, this is what the market does: provides ebb and flow.
We will see jobs numbers tomorrow morning from Automatic Data Processing (ADP - Free Report) , which tallies monthly private-sector payrolls and is looking to rebound from a dire -32K new jobs created in September to a merely bleak +25K for October. Other than that, unless the government somehow opens by Friday morning, we won’t be getting non-farm payroll numbers for last month.
Q3 Earnings Season at a Glance: Pfizer, BP, Shopify & More
We’ll just go over earnings numbers for the plethora of publicly traded companies reporting ahead of today’s open, with so many to account for. Also, these companies may or may not be on a calendar Q3 reporting schedule, but for simplicity’s sake we’ll treat them all as Q3 data:
Big Pharma staple Pfizer (PFE - Free Report) zoomed past estimates this morning, with quarterly earnings of 87 cents per share beating the Zacks consensus of 66 cents to +31.8%. Shares are still selling off -1% on the news, and -7% year to date.
Integrated oil supermajor BP (BP - Free Report) reported earnings of 85 cents per share versus analyst expectations of 72 cents, for a +18% positive surprise. Shares are up +2.5% in today’s pre-market, and +18% year to date.
Shopify (SHOP - Free Report) only met earnings expectations this morning at 34 cents per share, and the stock is trading down -4.6% in the pre-market. This is another big winner year to date, +62%.
Not to be confused, Spotify (SPOT - Free Report) posted a huge +104.8% earnings beat this morning: $3.83 per share versus $1.87 anticipated. Shares had been up +4% but are now down -2%, +44% year to date.
Archer Daniels Midland (ADM - Free Report) surpassed earnings estimates by 3 cents to $92 cents per share in the currently reported quarter. But that was the extent of the good news in this morning’s report, and shares are -6.6% at this hour.
The biggest winner, surprise-wise, this morning is Hertz (HTZ - Free Report) , which posted a gain of +$0.12 per share versus estimates for a -$0.02 loss. This amounts to a +700% positive earnings surprise. Shares are up +12% on the news, adding to the company’s +35% gains year to date.
Image: Bigstock
Pre-markets Sell Off on No New Economic News
Key Takeaways
Tuesday, November 4, 2025
Pre-market futures are sinking on valuation concerns this morning. This is not from any particular event that happened this morning, though it may have something to do with events that aren’t happening. This morning was to bring us new U.S. Trade Deficit figures, Factory Orders, and Job Openings and Labor Turnover Survey (JOLTS), but due to the government shutdown — now tied with the longest ever, with 2018-2019, at 35 days — are not out.
The Dow is selling off -304 points, -0.64%, and the S&P 500 -80, -1.16%, at this hour. The Nasdaq is shedding -416 points, -1.59%, and the small-cap Russell 2000 -34, -1.40%. This is illustrated cleanly by the -8% selloff in Palantir (PLTR - Free Report) shares this morning, after the company easily outperformed estimates in its quarterly report yesterday afternoon. Then again, at +174% stock growth year to date with a 300x P/E, this is what the market does: provides ebb and flow.
We will see jobs numbers tomorrow morning from Automatic Data Processing (ADP - Free Report) , which tallies monthly private-sector payrolls and is looking to rebound from a dire -32K new jobs created in September to a merely bleak +25K for October. Other than that, unless the government somehow opens by Friday morning, we won’t be getting non-farm payroll numbers for last month.
Q3 Earnings Season at a Glance: Pfizer, BP, Shopify & More
We’ll just go over earnings numbers for the plethora of publicly traded companies reporting ahead of today’s open, with so many to account for. Also, these companies may or may not be on a calendar Q3 reporting schedule, but for simplicity’s sake we’ll treat them all as Q3 data:
Big Pharma staple Pfizer (PFE - Free Report) zoomed past estimates this morning, with quarterly earnings of 87 cents per share beating the Zacks consensus of 66 cents to +31.8%. Shares are still selling off -1% on the news, and -7% year to date.
Integrated oil supermajor BP (BP - Free Report) reported earnings of 85 cents per share versus analyst expectations of 72 cents, for a +18% positive surprise. Shares are up +2.5% in today’s pre-market, and +18% year to date.
Shopify (SHOP - Free Report) only met earnings expectations this morning at 34 cents per share, and the stock is trading down -4.6% in the pre-market. This is another big winner year to date, +62%.
Not to be confused, Spotify (SPOT - Free Report) posted a huge +104.8% earnings beat this morning: $3.83 per share versus $1.87 anticipated. Shares had been up +4% but are now down -2%, +44% year to date.
Archer Daniels Midland (ADM - Free Report) surpassed earnings estimates by 3 cents to $92 cents per share in the currently reported quarter. But that was the extent of the good news in this morning’s report, and shares are -6.6% at this hour.
The biggest winner, surprise-wise, this morning is Hertz (HTZ - Free Report) , which posted a gain of +$0.12 per share versus estimates for a -$0.02 loss. This amounts to a +700% positive earnings surprise. Shares are up +12% on the news, adding to the company’s +35% gains year to date.
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