US stock futures climbed above the baseline Thursday evening after stocks plummeted in response to Nvidia (NVDA) earnings failing to wow Wall Street.
S&P 500 (ES=F) futures rose .01%, while Nasdaq 100 (NQ=F) jumped 0.3%., and Dow Jones (YM=F) futures ticked up 0.1%.
As of 10:44:32 PM EST. Market Open.
ES=F YM=F NQ=F
Nvidia shed 8.5% of its stock on Thursday, resulting in its market cap dipping below $3 trillion for the first time since the company reached the milestone in June 2024. The chip giant inched up 1% in after-hours trading. Although its earnings report beat on the top and bottom lines, its outlook for first quarter gross margin came in lower than estimates.
Traders continue to be on edge when it comes to President Donald Trump’s tariff plans. The president pledged to double tariffs on China on Thursday just a day after threatening to impose new tariffs on Europe.
Dell Technologies (DELL) released its earnings report on Thursday, but its shares flatlined after the bell due to concerns about higher AI server costs. Computer and printer maker HP (HPQ) dropped 4% in after-hours trading despite its earnings report meeting expectations.
The next piece in the economic puzzle that Wall Street will be watching is the release of the Personal Consumer Expenditures (PCE) index on Friday. The PCE is a measure of the change in “core” expenses faced by US consumers and is the Fed’s preferred gauge of inflation.
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