Nvidia Earnings in Focus, Target Cuts Profit Outlook, Meta Wins Antitrust Case & More | Morning Market Update

Global markets are bracing for a busy trading day as tech giants, retailers, and regulators dominate the headlines. From Nvidia’s high-stakes earnings to Target’s trimmed outlook, Meta’s courtroom victory, and Netflix’s expanding real-world ambitions, here are the top stories shaping investor sentiment this morning.

1. Nvidia Earnings in Focus as AI Sector Cools

Nvidia shares have slipped over 4% this week ahead of its highly anticipated third-quarter earnings release later today. Despite the dip, the stock is up 1% in premarket trade.

The broader AI space saw pressure after a series of major announcements:

Nvidia, Microsoft and Anthropic revealed a new partnership; the deal values Anthropic at about $350 billion, up from $183 billion in September.

Microsoft introduced a tool to detect AI agent usage across its ecosystem.

Google rolled out its upgraded Gemini 3 model, intensifying competition with OpenAI.

Intuit signed a $100+ million multiyear deal with OpenAI to integrate ChatGPT into TurboTax and other products.

Weakness across AI names dragged the S&P 500 into its longest losing streak since August.

2. Target Cuts Profit Outlook; Lowe’s Surprises

Target reported Q3 revenue slightly below estimates and trimmed the upper end of its full-year profit guidance. Shares fell around 2% in premarket trade.

Incoming CEO Michael Fiddelke said the company is prioritizing decisions that will “get Target back to growth,” but declined to specify when sales might turn positive.

In contrast, Lowe’s cut its yearly outlook but posted earnings that beat expectations, sending the stock up more than 6% premarket.

3. Congress Approves Release of Epstein Files

The U.S. House and Senate passed a bill requiring the Justice Department to release all files connected to the late sex offender Jeffrey Epstein. President Donald Trump has indicated he will sign the legislation.

Separately, former Treasury Secretary Larry Summers announced his resignation from the OpenAI board, days after emails with Epstein became public.

4. Meta Wins Major Antitrust Case

Meta secured a major legal victory as a federal judge ruled that the company does not hold a social media monopoly, citing TikTok and YouTube as strong competitors.

The case centered on Meta’s acquisitions of Instagram (2012) and WhatsApp (2014). The FTC pushed to break up the company, but after a five-year legal battle, the judge sided with Meta.

5. Netflix Expands Beyond Streaming

Netflix is accelerating its push into retail and in-person experiences, leveraging its growing original content library.

The company has signed product deals with Hasbro, Mattel and Jazwares for shows like Bridgerton and KPop Demon Hunters. It has also launched immersive physical spaces, including the new Netflix House Philadelphia, featuring escape rooms, mini golf, a theater and themed dining.