US stock futures steady with Nvidia earnings in focus
U.S. stock index futures fell slightly in evening deals on Monday as sentiment remained cautious ahead of quarterly earnings from market darling Nvidia due later in the week.
Futures steadied following a positive session on Wall Street, as indexes recouped some of last week's losses. A cooling Trump trade and doubts over future interest rate cuts saw U.S. stock indexes fall from record highs last week.
S&P 500 Futures fell 0.1% to 5,915.50 points, while Nasdaq 100 Futures fell 0.1% to 20,616.50 points by 18:40 ET (23:40 GMT). Dow Jones Futures fell 0.1% to 43,503.0 points. Nvidia steadies with earnings in focus
Shares of chipmaking giant NVIDIA Corporation (NASDAQ:NVDA ) rose slightly in evening deals after a 1% loss during Monday’s session.
The Information reported that the firm’s new Blackwell artificial intelligence chips were experiencing some overheating issues.
The chipmaker, which recently overtook Apple Inc (NASDAQ:AAPL ) to become the world’s most valuable listed company, is set to report its quarterly earnings after the market close on Wednesday.
Nvidia is considered as a bellwether for AI demand, with its earnings likely to set a course for technology stocks in the coming days.
The company’s shares have nearly tripled in value this year, as it logged strong demand from the rapidly growing AI sector. Nvidia makes the most advanced AI chips in the market.
Beyond Nvidia, earnings from retail giants Walmart Inc (NYSE:WMT ) and Lowe’s Companies Inc (NYSE:LOW ) are also due this week, and are set to offer more cues on consumer spending. Wall St rises on Tesla rally; SMCI surges
Wall Street indexes rose on Monday, recouping some of last week’s losses on a rally in electric vehicle maker Tesla.
Tesla Inc (NASDAQ:TSLA ) surged over 5% and was flat in aftermarket trade on a report that the Trump administration will set up a regulatory framework for fully self-driving cars, making it a top priority for the Department of Transportation.
Other major tech stocks also rose on Monday. But Alphabet Inc (NASDAQ:GOOGL ) slipped in aftermarket trade after Bloomberg reported the Department of Justice could recommend the tech giant sell off its Chrome browser as part of an antitrust crackdown.
Server maker Super Micro Computer Inc (NASDAQ:SMCI ) rallied over 35% after it said it had appointed a new auditor and was on track to file its financial reports for the year.
The S&P 500 rose 0.4% to 5,893.62 points, while the NASDAQ Composite rose 0.6% to 18,792.43 points. The Dow Jones Industrial Average lagged, falling 0.1% to 43,389.60 points.
Wall Street indexes had fallen from record highs last week as optimism over a second Donald Trump presidency cooled, and as strong inflation readings and less dovish Federal Reserve signals sparked some doubts over just how much interest rates will fall in the coming months.
Purchasing managers index data for November is due this week and is also set to offer more cues on the economy.
Source: Investing.com
