US stock futures are under pressure as Palantir (PLTR) slides despite beating on earnings and raising its full-year outlook, with investors balking at its lofty valuation after a 170% year-to-date run. The AI favorite is also under fresh scrutiny after “Big Short” hedge fund manager Michael Burry disclosed prominent put positions against both Palantir and Nvidia (NVDA), stoking fears of an AI bubble and a broader tech pullback. Uber (UBER) stock fell after missing on operating income and issuing softer guidance, while Pfizer (⁠PFE⁠) raised its 2025 profit forecast but faces a challenge to its planned Metsera obesity-drug deal from Novo Nordisk (NVO). In Washington, the government shutdown has now tied the record at 35 days, with 40 million low-income Americans at risk of losing SNAP benefits before a judge-ordered round of partial payments, and the Supreme Court is set to hear a significant case on the legality of Trump-era tariffs. Voters head to the polls in key state elections in Virginia, New Jersey, and New York as the political landscape for tariffs and the broader economic agenda takes shape.

Takeaways:

Palantir stock sinks on valuation fears despite strong earnings and guidance

Michael Burry takes prominent bearish options positions against Nvidia and Palantir, flashing an AI bubble warning

Uber misses on operating income; Pfizer lifts 2025 outlook as Novo Nordisk contests its Metsera deal

Government shutdown hits day 35, threatening SNAP benefits and setting records

Supreme Court tariff case and state elections could reshape Trump’s economic and trade agenda

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