Red arrows marked the start of Thursday's trading session. One of the largest red arrows was seen in Palantir (PLTR) as the Trump administration eyes Pentagon budget cuts. CEO Alex Karp also disclosed a potential stock sale he can enact by September. Wayfair (W) also slid off its earnings while Carvana (CVNA) sold off after reporting murky guidance. Diane King Hall dives into the morning's developing stories.