Stock Market Today: Major Indexes Plummet After Massive Post-Election Surge; Nasdaq Drops 4% as Chip Stocks Plunge

Toyota Shares Drive Higher on Brighter Outlook

FROM 1 hr 22 min ago

Toyota’s (TM) stock is bucking the broader downturn in the U.S. stock market today after the automaker lifted its full-year outlook.

Toyota’s latest quarterly net income fell nearly 19% year-over-year to 759.4 billion yen as the manufacturer grappled with rising supply costs and U.S. tariffs, according to the company. Still, Toyota now expects 3.57 trillion yen in profit, up from 3.25 trillion yen in prior estimates.

The company’s U.S.-traded shares were up 17% recently, pushing the stock into positive territory for 2026.

Cloudflare, Airbnb Earnings Due After Closing Bell

FROM 1 hr 22 min ago

With third-quarter earnings season still in high gear, a number of notable reports will land today. Those include results from Airbnb (ABNB) and Cloudflare (NET), due this evening.

Analysts expect travel booking company Airbnb to report nearly $4.75 billion in revenue and $1.72 billion in profit, according to Visible Alpha, according to Visible Alpha’s survey of analysts.

Wall Street is looking for $736.8 million in revenue and a $7.8 million loss from Cloudflare (NET), a network and security services company.

Airbnb’s shares were down 4% in recent trading, while Cloudflare’s were off nearly 10% amid the tech sell-off dragging major indexes lower today.

Dow, S&P 500 Are Less than 2% Away From Record Highs

FROM 1 hr 22 min ago

Following yesterday’s blockbuster gains, the Dow Jones Industrial Average and the S&P 500 enter Thursday’s session not far from fresh record highs.

The Dow is 1.9% away from its record closing high of 54,349 set in early August. The S&P 500 just needs to gain 1.7% to surpass the closing record of 7,819 it hit on Oct. 6.

The Nasdaq Composite, which has been reeling lately amid growing concerns about the sustainability of the AI trade, is more than 7% away from its closing high, also set on Oct. 6.

Major Stock Index Futures Mixed

FROM 4 hr 51 min ago

Dow Jones Industrial Average futures were up 0.6%, or 330 points, in recent trading.

Futures tied to the S&P 500 tacked on 0.1%.

Nasdaq 100 futures were down 0.9%.