Dow, S&P, Nasdaq futures edge lower despite Nvidia earnings beat

U.S. stock futures edged lower on Thursday as investors evaluated stronger-than-expected earnings from Nvidia, seeking direction for the next phase of the artificial intelligence-driven market rally.

Futures tied to the Dow Jones Industrial Average declined 0.1%, following broad gains in equities on Wednesday, News.Az reports, citing foreign media.

Contracts linked to the S&P 500 and the tech-heavy Nasdaq 100 hovered slightly below the flatline, reflecting cautious sentiment despite the upbeat corporate results.

Shares of Nvidia initially surged in premarket trading after the chipmaker reported quarterly profit and revenue that exceeded Wall Street forecasts. The strong performance helped ease concerns surrounding the recent “AI scare trade” that had unsettled markets. However, the stock later trimmed gains to around 1% ahead of the opening bell.

In contrast, shares of Salesforce fell approximately 4%, extending an AI-related sell-off that has left the stock down 28% so far this year.

Investors are also closely watching incoming economic data. Weekly jobless claims figures are scheduled for release on Thursday, followed by January’s producer price index (PPI) report on Friday, both of which could influence expectations for Federal Reserve policy.

On the corporate front, earnings season continues. Full-year results from automaker Stellantis are expected before the market opens. Quarterly reports from Warner Bros. Discovery, Dell Technologies, and CoreWeave are also due later in the day.

News.Az 

By Nijat Babayev