While Dow Jones futures were up 0.15% at the time of writing, the S&P 500 futures edged up by 0.03%.
Shares of Nvidia declined in pre-market trade on Thursday as investors digested the AI bellwether’s second-quarter (Q2) results and outlook to gather clues about the AI demand outlook going forward amid a dynamic trade policy environment.
Nvidia projected sales of $54 billion in the third quarter (Q3), which is lower than some analyst expectations of over $60 billion, according to a Bloomberg report.
While Dow Jones futures were up 0.15% at the time of writing, the S&P 500 futures edged up by 0.03%, while the tech-heavy Nasdaq 100’s futures were down 0.03%. Futures of the Russell 2000 index were up 0.63%.
Meanwhile, the SPDR S&P 500 ETF (SPY) was up 0.07% at the time of writing, while Invesco QQQ Trust (QQQ) edged up by 0.02% on Thursday morning. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bullish’ territory.
Asian markets ended Thursday’s trading session on a largely positive note, with the Shanghai Composite surging 1.13%, followed by the Nikkei 225 at 0.63%, and the KOSPI at 0.29%.
The TWSE Capitalization Weighted Stock index fell 1.17%, while the Hang Seng index declined 0.75%.
Stocks To Watch
- Nvidia Corp. (NVDA): Nvidia’s shares were down nearly 2% pre-market despite the company’s Q2 results beating Wall Street expectations. Nvidia posted an earnings per share (EPS) of $1.05 on revenue of $46.74 billion, ahead of analyst estimates of an EPS of $1.01 on revenue of $46.05 billion, according to Stocktwits data.
- Snowflake Inc. (SNOW): Snowflake shares gained 14% pre-market after the company’s Q2 results surpassed expectations. Snowflake reported EPS of $0.35 on revenue of $1.14 billion, beating an estimated EPS of $0.27 on revenue of $1.09 billion, according to Stocktwits data.
- HP Inc. (HPQ): HP reported an EPS of $0.75 in Q3, in line with estimates, while its revenue of $13.93 billion beat expectations of $13.69 billion, according to Stocktwits data. HP’s shares fell nearly 2% pre-market.
- Marvell Technology Inc. (MRVL), Dell Technologies Inc. (DELL), Ulta Beauty Inc. (ULTA), Dollar General Corp. (DG), and Dick’s Sporting Goods Inc. (DKS) are among the companies scheduled to report their latest quarterly earnings on Thursday.
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