5 Things to Know Before Markets Open

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Amazon is expected to introduce new artificial intelligence and robotics tech in its warehouses to reduce delivery times, and J. B. Hunt shares fell after reporting profits tumbled amid a decline in demand. Here’s what investors need to know today.

1. Amazon to Deploy Robotics, AI in Warehouses to Improve Speed, Safety

Amazon (AMZN) is reportedly preparing to deploy new artificial intelligence and robotics technology in its warehouse operations in an effort to reduce delivery times and identify inventory more quickly by revamping the way it moves products through its fulfillment centers. Amazon said the new system, named Sequoia, will increase safety and reduce human injuries. Shares of Amazon were down 0.5% in pre-market trading.

2. J.B. Hunt Profits Fall 30% on Lower Shipping Demand, Weak Pricing

Shipping company J.B Hunt Transport Services (JBHT) reported a 30% drop in third quarter profits, with its earnings per share of $1.80 coming in lower than the $1.82 a share analysts expected, compared with earnings of $2.57 a share in the same quarter a year ago. The weaker results come amid a decline of revenue per load, as weak pricing offset a slight increase in volume, part of a decline in the trucking sector that has shown demand fall off as retailers pare back their inventories. Shares of J. B. Hunt fell 3.6% in pre-market trading.

3. United Airlines Shares Dive After Forecasting Earnings Impact from Israel Flight Suspensions

Shares of United Airlines (UAL) slid more than 5% in pre-market trading after it lowered its fourth-quarter outlook on worries that higher fuel costs and suspension of flights in Israel could impact its earnings. The airline forecast that earnings would fall to $1.80 per share if service to Tel Aviv remains suspended through October, and $1.50 if suspended throughout the year, lower than analyst projections of $2.09 a share.

4. Nvidia, AMD Shares Fall Following New AI Chip Restrictions

Shares of Nvidia (NVDA) fell 3% in pre-market trading, following a 4.6% drop yesterday, after the White House formally announced it would tighten restrictions on artificial intelligence (AI) chips to China. The company said that it didn’t expect the wider restrictions to have a meaningful impact on its near-term financial results. Shares of Advanced Micro Devices (AMD) also fell 1% in pre-market trading, following a 1.2% loss in the prior session.

5. Housing Starts Projected to Increase in September

At 8:30 a.m. ET, housing starts are projected to increase to 1.37 million in September, up from 1.28 million last month, while building permits will drop to 1.45 million from August’s 1.54 million. Fed Governor Chris Waller will talk at 12 p.m. ET, with New York Fed President John Williams speaking at 12:30 p.m. ET and Fed Governor Lisa Cook will give remarks at 6:55 p.m. ET. At 2 p.m. ET, the Federal Reserve Beige Book will be released.



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