Stock futures pointed sharply higher Thursday, a day after AI darling Nvidia (NVDA) reported quarterly results above analysts’ lofty expectations.
Futures associated with the tech-heavy Nasdaq, benchmark S&P 500, and blue-chip Dow Jones Industrial Average were up a respective 1.5%, 1.1%, and 0.5%. Yesterday, the Dow and S&P 500 snapped four-session skids ahead of Nvidia’s earnings, while the Nasdaq ended higher for the first time this week.
After the bell Wednesday, Nvidia’s fiscal 2026 third-quarter results blew past Wall Street expectations and the company also issued rosy revenue guidance for the current quarter, with CEO Jensen Huang saying sales of its AI Blackwell platform are “off the charts.”
Nvidia shares surged in extended trading and recently were up nearly 5%. Shares of fellow AI chipmakers rose in their wake, including those of Advanced Micro Devices (AMD), Broadcom (AVGO), and Intel (INTC), which were up a respective 4.5%, 3%, and 2% before the bell.
Nvidia’s “Magnificent Seven” brethren of large-cap technology companies—in order of market capitalization, Apple (AAPL), Microsoft (MSFT), Alphabet (GOOG; GOOGL), Amazon (AMZN), Meta Platforms (META), and Tesla (TSLA)—all pointed higher as well.
Walmart (WMT) was set to deliver its own highly anticipated earnings early Thursday. Its results were expected to shed light on how the American consumer is doing.
Market participants also are awaiting Thursday’s September jobs report, which was delayed because of the 43-day U.S. government shutdown. The report was originally scheduled for release on Oct. 3, two days after the shutdown began. The Bureau of Labor Statistics also announced Wednesday that full October jobs data will not be released.
Bitcoin, which hit its lowest level since April 22 yesterday, was trading around $91,700, up from $89,400 overnight.
The yield on the 10-year Treasury note was little changed from Wednesday’s close at around 4.14%. The U.S. dollar index, which tracks the performance of the dollar against a basket of foreign currencies, also was near flat at 100.20.
WTI crude futures, the U.S. oil benchmark, advanced 0.8% to just below $60 per barrel. Gold futures pulled back 0.7% to $4,055 per ounce.
