Quantum computing stocks soar

Quantum stocks are going gangbusters in early trading on Thursday, with Rigetti Computing, D-Wave Quantum, IonQ, and Quantum Computing all up at least 5.5% as of 10:10 a.m. ET.

Surprisingly, most of these gains are taking place on relatively light volume (and a dearth of news) so far, though Rigetti and Quantum Computing are both enjoying elevated call demand, having already outstripped Wednesday’s call volumes traded a little over half an hour into the session.

The quantum space has benefited from a number of fresh deals with governments and affiliated agencies over the past month, with hopes of more to come, as the Trump administration recently highlighted quantum technology as an R&D budgetary priority for fiscal 2027.

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Tasha Matsumoto

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Tech and finance lead sell-off as traders brace themselves for Nvidia earnings and the September jobs report

While speculative assets were hardest hit, all sector ETFs were trading lower except utilities.

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Goldman: “We see three main areas of risk” for the market

If fresh data on the state of the US economy starts to confirm slowdown fears, buckle up.

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Luke Kawa

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Assets tied to the riskiest parts of the market and the economy are getting dumped in unison

If you’re looking for things to worry about, this combination of risk appetite souring on thematic, volatile stocks at the same time as companies that are in the business of giving money to less creditworthy companies should probably be near the top of the list.

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Lucid continues its autumn rout, hitting a fresh all-time low following a price target cut by Stifel

It’s been a rough 48 days for luxury EV maker Lucid, which fell to a fresh all-time low on Monday following a price target cut by analysts at Stifel.

Stifel lowered its Lucid price target to $17, from $21, with analyst Stephen Gengaro writing that the company will likely require additional capital over the next few years. According to Stifel’s note, published Monday, Lucid’s production is improving but it’s still in the “prove-it-to-me” stage, and vehicles that could elevate sales volumes are “likely two years away.”

Last week, Lucid announced that it plans to raise $875 million through a private offering of convertible senior notes due in 2031. The company lowered its production outlook and reported negative free cash flow of $955 million in its third quarter.

Since the end of the EV tax credit on September 30 — which Lucid’s pricey vehicles only qualified for through leasing loopholes — its shares are down more than 40%. Zooming out, Lucid’s stock has shed 98% of its value from its 2021 highs amid peak electric vehicle optimism.

Dell dives on double downgrade from Morgan Stanley

JPMorgan analysts, on the other hand, have a much different view.

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