Stock futures pointed higher Wednesday ahead of a highly anticipated earnings report from AI chip giant Nvidia.
Nasdaq 100, S&P 500, and Dow Jones Industrial Average futures were up 0.4%, 0.3%, and 0.3%, respectively, in recent trading.
Yesterday, the tech-heavy Nasdaq, blue-chip Dow Jones Industrial Average, and benchmark S&P 500 closed up a respective 1.1%, 0.8%, and 0.8%, rebounding from sharp declines Monday on worries about AI disruption and uncertainty over the state of President Donald Trump’s tariffs.
In a nearly two-hour State of the Union speech Tuesday night, Trump defended his tariffs, some of which were struck down by the U.S. Supreme Court last Friday.
Investors are eagerly anticipating Nvidia’s quarterly results after the bell today. Shares of the world’s most valuable company were up nearly 1% in premarket trading, while those of Salesforce (CRM), which also is set to report results after markets close, were down 0.5%.
In post-earnings stock moves, shares of Circle Internet Group (CRCL) soared 14%, CAVA Group (CAVA) surged 11%, First Solar (FSLR) plunged 17%, Workday (WDAY) sank 10%, Guiness parent Diageo (DEO) dropped 9.5%, and Lowe’s (LOW) fell 3%.
Advanced Micro Devices (AMD), whose shares ended nearly 9% higher Tuesday after it inked a deal with Meta Platforms (META) to provide the Facebook parent with 6 gigawatts of AI computing power, were up less than 1% before the bell.
Bitcoin was trading around $65,400, up from overnight lows below $63,900. The 10-year Treasury yield, which influences interest rates on a variety of consumer loans including mortgages, was at 4.05%, up from Tuesday’s close below 4.04%.
Gold futures ticked higher to $5,185 an ounce, while silver futures advanced nearly 3% to $90 an ounce. West Texas Intermediate futures, the U.S. crude oil benchmark, rose 0.4% to $65.85 a barrel.
The U.S. dollar index, which tracks the value of the greenback against a basket of currencies, was 0.2% higher at 97.99.