US PREMARKET STOCKS: November 20, 2025
US PREMARKET STOCKS: November 20, 2025
Futures Indices
Dow Futures: +0.80%
S&P 500 Futures: +1.55%
Nasdaq 100 Futures: +2.00%
US 10-Year Yield: 4.38%
Market Environment
US indices are set to open sharply higher, buoyed by Nvidia's (NVDA) spectacular results and a much stronger than expected jobs report. The Nasdaq 100 is up +2% premarket, driven by exceptional performance in the tech sector.
Nvidia added over $200 billion in market cap after beating expectations for results and outlook, nearly recovering the $200 mark lost earlier this month.
On the macroeconomic front, the September jobs report, delayed due to the government shutdown, revealed 119,000 new jobs versus 50,000 expected. The labor force participation rate ticked up slightly to 62.4%, while the unemployment rate rose to 4.4%.
Following these numbers, bond yields fell as investors turned back to Treasuries.
BLS economists note that job creation remains concentrated in health care, food services, and social assistance, with losses in transportation and the public sector.
Stocks to Watch
Cipher Mining (CIFR) +13.68%
The mining specialist signed a 10-year, 56 MW AI hosting contract with Fluidstack and proposed a $333M note offering, boosting investor appetite.
Walmart (WMT) +3.75%
The retail giant beats revenue and earnings expectations and raises its outlook for fiscal 2026.
Taiwan Semiconductor (TSM) +3.16%
Nvidia's performance is seen as a positive signal for TSM, according to Wedbush, given its central role in the AI semiconductor supply chain.
Eaton (ETN) +2.76%
The stock rises despite CFO Olivier Leonetti announcing his departure, as investors applaud the company’s strong fundamentals.
Fossil (FOSL) +7.88%
CEO Franco Fogliato bought 200,000 company shares, strengthening investor confidence.
Exact Sciences (ABT) -0.99%
The stock climbs following rumors of a $21 billion buyout by Abbott, further fueling interest in the diagnostics sector.
Houston American Energy (HUSA) -23.23%
The stock plummets after announcing an $8 million capital raise via a share offering.
Astera Labs (ALAB) +7.83%
The stock advances after BNP Paribas initiated coverage with an outperform rating.
Recommendation Changes
Upgrades
Apollo Global Management (APO) → Morgan Stanley upgrades to Overweight (from Equalweight), target raised from $151 to $180.
Nasdaq, Inc. (NDAQ) → Morgan Stanley raises to Overweight, price target up from $97 to $110.
Jack Henry & Associates (JKHY) → Raymond James upgrades to Strong Buy, target set at $198.
Dycom Industries (DY) → D.A. Davidson maintains Buy and raises target from $300 to $390.
Nvidia (NVDA) → Baird maintains Outperform, target raised from $225 to $275.
Neutral
Circle Internet Group (CRCL) → Buy maintained, target lowered from $229 to $136.
Valvoline (VVV) → JP Morgan maintains Neutral, target cut from $38 to $30.
Downgrades
Eversource Energy (ES) → Mizuho downgrades to Neutral (from Outperform), target cut from $81 to $68.
Globant S.A. (GLOB) → Jefferies downgrades to Hold (from Buy), target reduced from $80 to $61.
MarketAxess (MKTX) → Morgan Stanley downgrades to Market Weight (from Overweight), target down from $247 to $209.
Range Resources (RRC) → Gerdes Energy downgrades to Neutral (from Buy), target at $43.
Have a great session everyone
Sylvain Mouilhaud: Stock Coach