Stock Futures Falling. Tech Weighs After Nvidia Fails to Meet High Bar.
Stock futures pointed higher early Thursday as investors digested Nvidia’s earnings report and its impact on the broader market.
Dow Jones Industrial Average futures rose 146 points, or 0.3%. S&P 500 futures were up 0.2%, while those tied to the tech-heavy Nasdaq 100 recovered from an initial slump to rise 0.1%. There was a lack of direction Wednesday in anticipation of the chip maker’s earnings–the Dow eked out gains in yesterday’s session, while the S&P 500 was flat and the Nasdaq Composite closed 0.1% down.
Nvidia’s earnings have become a key event for markets, and Wednesday’s report was no different. The company beat expectations in its fiscal third quarter, and its outlook for the January quarter also topped estimates.