Dow Futures Edge Higher As Investors Await Nvidia Earnings: MDB, PVH, OKTA, ANF, KSS, CRWD Among Stocks To Watch

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As momentum builds around Nvidia’s AI dominance and demand, the market heavyweight’s earnings and CEO Jensen Huang’s comments will be keenly watched across industries.

U.S. stocks appear set for a positive opening on Wednesday as investors brace for earnings reports from AI bellwether Nvidia Corp. (NVDA) and a few retailers.

The market heavyweight’s earnings, due after the closing bell, and CEO Jensen Huang’s comments will be keenly watched across industries.

In the broader market, Dow Jones futures were up 0.03% at the time of writing, the S&P 500 futures rose 0.4%, and the tech-heavy Nasdaq 100’s futures were up 0.05%. Futures of the Russell 2000 index were down 0.1%.

Meanwhile, the SPDR S&P 500 ETF (SPY) was up 0.07% at the time of writing, while Invesco QQQ Trust (QQQ) edged 0.08% higher on Wednesday morning. Retail sentiment around the S&P 500 ETF on Stocktwits was in the ‘bullish’ territory.

Among Asian markets, the Shanghai Composite index declined the most on Wednesday, falling 1.76%. The Hang Seng index dropped 1.27%, while the KOSPI closed 0.25% higher, and the Nikkei 225 gained 0.30%. 

The TWSE Capitalization Weighted Stock index closed the day up by 0.8%.

Stocks To Watch

  • MongoDB Inc.(MDB) surged 30% in pre-market trade after it reported quarterly earnings of $1 per share, which beat the analyst estimate of $0.66, as per Fiscal AI data. Quarterly revenue came in at $591.4 million, beating the Street estimate of $553.57 million.
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  • PVH Corp.(PVH) rose over 7% after it reported earnings of $2.52 per share, which beat the analyst estimate of $2.00. Quarterly revenue of $2.17 billion beat the $2.11 billion estimate.
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  • Okta Inc. (OKTA) advanced over 5% after reporting second-quarter revenue of $728 million, beating analyst estimates of $711.8 million. Its adjusted earnings of $0.91 per share beat analyst estimates of $0.85 per share.

Apart from Nvidia, other notable names reporting on Wednesday include Abercrombie & Fitch (ANF), Donaldson (DCI), J.M. Smucker, Inc. (SJM), Kohl’s (KSS), Williams-Sonoma (WSM), Bill.com (BILL), CrowdStrike (CRWD). 

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