Stock market after hours: Why S&P, Dow and Nasdaq futures are up today?
Stock market futures rose Wednesday night after AI giant Nvidia posted a strong earnings report. S&P futures rose at least 1,3%, while Nasdaq 100 futures were up 1.2%. Dow Jones Industrial Average futures gained 206 points, or 0.5%. This also comes after a federal trade court blocked President Donald Trump from imposing sweeping tariffs on imports under an emergency-powers law.
The ruling follows several lawsuits arguing that the president exceeded his authority and left the country’s trade police dependent on his whims and unleashed economic chaos.
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In after-hours on Wednesday, Nvidia shares gained more than 4%. James Demmert, chief investment officer of Main Street Research, told CNBC that the earnings report is ‘pivotal not just for Nvidia but for the entire stock market, as it can rejuvenate investor optimism across the board and help investors to focus on the power of AI and less on headlines out of Washington on tariffs and taxes’.
While Nvidia showed optimism, HP Inc. dropped about 15% in extended trading after the company’s profit outlook fell short of estimates and it cut the annual earnings forecast.
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Some of the main moves in markets:
Stocks
S&P 500 futures rose 1.3% as of 8:36 a.m. Tokyo time
Hang Seng futures fell 0.5%
S&P/ASX 200 futures rose 0.2%
Currencies
The Bloomberg Dollar Spot Index rose 0.2%
The euro fell 0.3% to $1.1256
The Japanese yen fell 0.5% to 145.63 per dollar
The offshore yuan was little changed at 7.1964 per dollar
Cryptocurrencies
Bitcoin rose 0.6% to $108,008.87
Ether rose 1.7% to $2,678.65
Commodities
West Texas Intermediate crude rose 0.5% to $62.18 a barrel
Spot gold fell 0.8% to $3,259.71 an ounce
(With inputs from Bloomberg)