Dow, S&P 500, Nasdaq futures mixed after Nvidia earnings beat
Market remains cautious following Nvidia’s earnings report
The US markets are likely to experience a mix of gains and losses on Wednesday evening as investors process Nvidia’s (NVDA) latest earnings report. The tech giant’s stock surged 4% in after-hours trading, but the impact of this boost on the broader market is still uncertain.
Nvidia’s earnings report highlights
Nvidia’s earnings report, which beat Wall Street expectations, has sent the company’s stock soaring. The announcement of robust sales of its new-age Blackwell chips and upbeat guidance for the next quarter have contributed to the stock’s increase. With this news, investors are likely to be optimistic about the company’s prospects, leading to a 4% jump in its stock.
However, the impact of this positive news on the broader market is still unclear. The question on investors’ minds is: will this boost be enough to propel the overall market higher or will it remain contained to Nvidia’s stock?
Futures market performance
Futures linked to the S&P 500 (ES=F) crept up 0.1%, while Nasdaq 100 (NQ=F) futures advanced 0.1%. Dow Jones (YM=F) futures, on the other hand, fluttered just below the baseline. This lack of clear direction from the futures market suggests that investors are waiting for more clarity on the broader market’s trajectory.
Key events to watch out for
Thursday will be an eventful day, with the release of US GDP and the Labor Department’s weekly jobless claims set to grab attention. Additionally, earnings reports from Dell (DELL) and Warner Bros. Discovery (WBD) are expected, which could impact the markets. The uncertainty surrounding the Federal Reserve’s path to interest rate cuts, to be revealed through its preferred inflation gauge, the Personal Consumption Expenditures (PCE) index, on Friday, continues to weigh on investors’ minds.
Oil prices edge up
Oil prices rose slightly from two-month lows, sparked by President Donald Trump’s announcement that oil giant Chevron’s license to operate in Venezuela would be reversed. This development could restrict crude supply, leading to an increase in prices. Brent crude (BZ=F) oil futures crept up 0.3%, while West Texas Intermediate (CL=F) crude oil futures inched up 0.2%.
Asian markets slide on tariff announcements
Asian equities fell on Thursday as investors digested the latest tariff announcements from President Trump. The move has sparked concerns about the potential impact on international trade and economic growth.
Key stocks to watch
Snowflake (SNOW) shares jumped 9% after the AI software company beat revenue expectations for the fiscal year. Salesforce (CRM) dropped 5% following a weaker-than-expected earnings per share forecast for 2025. eBay (EBAY) plummeted over 8% after providing a weaker-than-expected outlook for the coming quarter.
Gold holds near record high
Gold (GC=F) remained close to its record high, driven by investor caution sparked by President Trump’s recent comments about his intentions to implement new tariffs. As the situation remains uncertain, investors are seeking safe-haven assets, leading to a slight increase in gold prices.
In conclusion, the Dow, S&P 500, and Nasdaq futures are likely to experience a mixed performance today, with Nvidia’s earnings report playing a significant role in shaping the market’s trajectory. Investors will be closely watching key events, including the release of US GDP and earnings reports, to gauge the broader market’s direction. As the situation remains uncertain, it is essential to stay informed and adapt to the ever-changing landscape of the markets.
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