U.S. stock futures stalled on Thursday as investors scrutinized earnings from chip giant Nvidia for the next phase of artificial intelligence trading.
Dow Jones Industrial Average futures (YM=F) edged down 0.2% after strong gains in the broad market on Wednesday. Contracts for the S&P 500 Index (ES=F) and the tech-heavy Nasdaq 100 Index (NQ=F) both fell 0.1%.
Shares of Nvidia (NVDA) surged after earnings beat estimates by a wide margin, but pared gains to around 1% in premarket. The semiconductor giant’s quarterly profit and revenue topped Wall Street expectations, easing concerns about an “artificial intelligence panic trade.” By comparison, Salesforce (CRM) shares fell about 4%, continuing an AI-driven sell-off that has seen the stock fall 28% so far this year.
Looking ahead to the economic calendar, investors will parse weekly unemployment benefits data due on Thursday, followed by the January producer price index report on Friday.
Wall Street also continues to see earnings, with Warner Bros. Discovery (WBD) , Dell Technologies (DELL) and CoreWeave (CRWV) all scheduled to report quarterly results on Thursday.
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Salesforce stock falls after fiscal year revenue forecast misses expectations
Software company Salesforce (CRM)’s fiscal 2027 revenue forecast fell short of Wall Street expectations on Wednesday, sending the company’s shares down nearly 4% in premarket trading.
The San Francisco-based company said spending on enterprise business software was weak as it invested heavily in artificial intelligence platforms to drive demand.
Reuters reports:
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