Stock futures are moving lower in early trading as major market indexes appear set to decline this week; Tesla shareholders overwhelmingly approved a trillion-dollar pay proposal for CEO Elon Musk; Senate Republicans looked to bring a new funding package for a vote in a bid to end the government shutdown; bitcoin briefly dropped below $100,000 this morning as the cryptocurrency continues to hover around its lowest levels in months; Take-Two Interactive Software is falling after it again delayed the release of its hit video game “Grand Theft Auto VI.”
Here’s what you need to know today.
1. Stock Futures Trending Lower as Markets Head for Weekly Losses
Stock futures are pointing lower in premarket trading as investors look set to send major market indexes lower for the week. Futures trading associated with the tech-focused Nasdaq 100 was lower by 0.4%, while futures tied to the S&P 500 were down by 0.3%. Dow Jones Industrial Average futures were lower by 0.3%. Major market indexes have retreated this week in sometimes-volatile trading as investors turned their back on the AI trade, despite strong earnings results some tech firms posted.
The Nasdaq came into Friday’s trading down by 2.8% on the week, while the benchmark S&P 500 slipped by more than 1.7% and the Dow Jones was lower by around 1.4%. Yields on the 10-year Treasury note, which can impact mortgage rates and other consumer loans, stayed at around the 4.09% level. Gold futures ticked back above the $4,000-an-ounce level, while oil futures inched above $60 a barrel.
2. Tesla Shareholders Approve Musk Trillion Dollar Pay Package
Tesla (TSLA) shareholders last night approved a $1 trillion pay proposal for Musk, with more than 75% of voters moving to OK the incentives-laden package for the firm’s leader. The results came after a run-up to the vote that included some major investors coming out against the hefty pay package and company leadership saying it was crucial for retaining Musk as the helm of the EV-company-with-robotics-and-AI-ambitions.
The pay package includes a range of “Mars-shot milestones” that include leading the company to a $2 trillion valuation and delivering a cumulative total of 20 million vehicles. Tesla shares were higher by 0.6% in premarket trading.
3. U.S. Lawmakers Look to Senate Vote to Reopen Government
As the shutdown enters its 38th day, lawmakers are proposing plans to bring the work stoppage to an end, media reports indicated. Senate Republicans told CBS News that they planned to amend a House-passed spending bill to extend the funding deadline beyond Nov. 21 and include long-term spending bills that have already been passed. The package would include a promise to hold a vote on healthcare subsidies that have been at the heart of the shutdown, which Republicans hoped would draw in moderate Democrats.
The proposal comes as the government planned to begin implementing flight restrictions today amid staffing issues. The shutdown has put a clamp on the releases of several economic reports, including today’s scheduled release of the October jobs report.
4. Bitcoin Around Lowest Levels in Months
Bitcoin fell below $100,000 in recent trading as the world’s best-known and most-valuable cryptocurrency continued to fluctuate. Bitcoin is down by nearly 3% after hitting a high of around $104,200 yesterday. Earlier this week, bitcoin touched intraday prices below the six-digit level for the first time since June amid mounting outflows in spot bitcoin ETFs. BlackRock’s iShares Bitcoin Trust (IBIT) and Grayscale Bitcoin Trust (GBTC) were each lower by more than 0.5% in early trading after shedding nearly 3% in the prior session.
5. Take-Two Tumbles After Another Delay for ‘Grand Theft Auto VI’
Take-Two Interactive Software (TTWO) shares tumbled as the video game maker again postponed the release of its highly-anticipated “Grand Theft Auto VI.” The company is now slating a Nov. 19, 2026 release for the latest installment of the series. It had previously pushed back the launch to May 2026. The firm, which also makes the “NBA 2K” and “Red Dead Redemption” games, reported fiscal second-quarter bookings of $1.96 billion, coming in ahead of company guidance. Shares of Take-Two have risen by nearly 40% coming into Friday trading, but were lower by more than 4% premarket.