News of the day for Nov. 21, 2024

The DOJ says Alphabet's (GOOGL) Google should be forced to divest the Chrome browser; Nvidia (NVDA) shares are moving lower in premarket trading as investors react to slower growth from the artificial intelligence (AI) chipmaker; U.S. stock futures are edging higher as investors review tech earnings and monitor geopolitical developments; bitcoin (BTCUSD) hits $98,000, helping boost the share prices of MicroStrategy (MSTR) and MARA Holdings (MARA); and Snowflake (SNOW) shares are soaring after the data analytics software maker projected that its fiscal 2025 products revenue will be better than previously forecast. Here's what investors need to know today.

1. DOJ Says Google Should Divest Chrome Browser

The U.S. Department of Justice (DOJ) said in a filing with a federal judge that Alphabet's (GOOGL) Google should sell off its Chrome browser, following an August court ruling that the tech giant holds an illegal monopoly in search. Losing Chrome, which controls two-thirds of the search market, would be damaging to Google, which requires the browser to gauge activity from users and use that data to target ads—its biggest revenue source. Google said next month it plans to file its own proposals to comply with the court's ruling. Shares of Alphabet are 0.5% lower in premarket trading.

2. Nvidia Stock Slips as Investors Disappointed With Earnings Beat

Shares of Nvidia (NVDA) are less than 1% lower in premarket trading after the chipmaker's earnings report beat estimates but perhaps not investor expectations. Nvidia saw third-quarter revenue nearly double year-over-year to a record $35.08 billion, while net income more than doubled to $19.31 billion, both above analysts' consensus estimates from Visible Alpha. The artificial intelligence (AI) chipmaker also reported doubling its revenue from data centers to a record $30.8 billion, while forecasting fourth-quarter data center revenue of $37.5 billion, above the $36.9 billion consensus.

3. US Stock Futures Edging Higher as Investors Digest Tech Developments

U.S. stock futures are edging higher in premarket trading as investors weigh Nvidia's earnings and the DOJ's call for Google to part with Chrome, as well as other tech developments. Nasdaq futures are 0.2% higher after dipping in the prior session, while Dow Jones Industrial Average futures are up 0.5% after the index broke a four-session losing streak yesterday. S&P 500 futures are up 0.4%. Treasury yields are little changed, while crude futures are 2% higher on geopolitical tensions with Russia.