US stock market futures today: Nvidia earnings revive AI trade — Dow, S&P 500, Nasdaq futures spike
US stock market futures jumped on Thursday as Nvidia’s strong earnings revived confidence in the AI trade. Nasdaq 100 futures rose 1.6%. S&P 500 futures gained 1.2%. Dow Jones futures added 0.5%. Nvidia stock surged more than 5% in premarket trading after the company posted Q3 revenue of $57.01 billion and EPS of $1.30, beating expectations of $55.2 billion and $1.26. Data center revenue hit $51.2 billion, above estimates of $49.3 billion. Gaming brought in $4.3 billion. Nvidia projected Q4 revenue of $65 billion, topping the $62 billion consensus.
The results lifted chip stocks. AMD jumped more than 4%. Micron and Broadcom also traded higher. Big tech names like Meta, Microsoft, and Google ticked up. The broader market’s rebound came after the S&P 500 and Dow broke a four-day losing streak on Wednesday.
Traders now await the delayed September nonfarm-payrolls report, with economists expecting job gains of around 50,000. The release is the first major economic update since the federal shutdown. Fed minutes showed officials divided over slowing hiring versus persistent inflation. Gold traded near $4,075 an ounce after dipping 0.44% as a stronger dollar pressured prices. Walmart will report earnings before the market open.
US stock market futures jump after Nvidia earnings beat ahead of key jobs report
US stock market futures moved sharply higher on Thursday as Wall Street reacted to Nvidia’s strong earnings and renewed confidence in the AI trade. The move signaled a potential rebound after several days of market weakness.
Nasdaq 100 futures surged 1.6% in early trade, showing clear leadership from tech names. S&P 500 futures gained about 1.2%. Dow Jones Industrial Average futures rose a more modest 0.5% as the index has fewer high-growth tech stocks.
Nvidia stock climbed more than 5% in premarket trading after delivering another quarter of strong results and offering a bullish revenue outlook. The company said demand for Blackwell processors remains “off the charts,” easing fears that AI momentum was cooling.
What does Nvidia’s earnings beat reveal about the AI market?
Nvidia reported Q3 earnings per share of $1.30 on revenue of $57.01 billion. Analysts had expected $1.26 EPS on $55.2 billion in revenue. The data center segment posted $51.2 billion in sales, beating estimates of $49.3 billion. Gaming revenue came in slightly softer at $4.3 billion versus the $4.4 billion estimate.
For Q4, Nvidia projected revenue of $65 billion, while Wall Street expected around $62 billion. Shares traded near $196.40 in premarket, up over 5%.
The upbeat results rippled across the sector. AMD shares climbed nearly 5% in premarket trade. Micron and Broadcom gained around 4%. Mega-cap tech names including Microsoft, Meta, and Google also rose early. Nvidia extended its early surge, trading above $196 in premarket hours after closing at $186.52.
Why is today’s US jobs report important for the market?
Investors are now looking ahead to the September nonfarm-payrolls report scheduled for 8:30 a.m. ET. The release was delayed due to the federal government shutdown, making this the first major economic dataset in weeks. Economists expect job gains of around 50,000. The October jobs report has been canceled, while the November update was pushed to December 16. Traders are watching for any signals on the Federal Reserve’s rate path.
Minutes from the Fed’s October meeting showed officials remain split. Some worry about cooling labor conditions, while others see sticky inflation as the bigger threat. The divide has added uncertainty around the December meeting, with several policymakers signaling that no further rate cuts may come this year.
How are gold prices and the US dollar reacting?
Gold prices steadied after a two-day gain, trading near $4,075 an ounce. The metal slipped 0.44% as traders scaled back expectations for a December rate cut.
A stronger US dollar also pressured bullion. The currency index saw its biggest single-day gain since late September, making gold more expensive for international buyers. Even with recent softness, gold is still up more than 50% this year after hitting record highs in October.
What other corporate updates are in focus today?
Walmart will report quarterly earnings before the market opens. Investors are watching closely for signs of consumer strength heading into the holiday season. The broader US markets remain on track for a weekly decline, despite Wednesday’s brief rebound that ended a four-day losing streak for the S&P 500 and Dow.