Your current location is:{Current column} >>Text
US Stock Futures Steady; Anticipation of Nvidia Earnings Elevates Nasdaq to Record High
{Current column}29People have watched
IntroductionU.S. stock index futures remained largely unchanged in evening trading on Monday. This came after a ...
U.S. stock index futures remained largely unchanged in evening trading on ATFX foreign exchange dealerMonday. This came after a buying spree in technology stocks propelled the Nasdaq to record highs, as investors eagerly await earnings from Nvidia, a market favorite.
Persistent uncertainty about interest rates continued as Federal Reserve officials issued warnings about stubborn inflation. Attention is now focused on the minutes of the Fed’s late-April meeting, set to be released this Wednesday.
As of 19:20 ET (23:20 GMT), S&P 500 Futures held steady at 5,331.0 points, while Nasdaq 100 Futures dipped slightly by 0.1% to 18,748.50 points. Dow Jones Futures also fell by 0.1% to 39,923.0 points.
Tech Sector Strengthens Ahead of Nvidia Earnings
NVIDIA Corporation (NASDAQ: NVDA) is scheduled to report its quarterly earnings after the market closes on Wednesday. Investors are keen to see if the company can meet market expectations for significant earnings growth. Nvidia, considered a bellwether for the booming artificial intelligence industry, is likely to influence the broader technology sector with its earnings report.
The company has been central to a surge in market valuations over the past year, driven by increasing enthusiasm for AI. The anticipation of Nvidia's earnings led to continued buying in tech stocks, helping push the NASDAQ Composite to a record high close on Monday, outperforming its Wall Street counterparts.
Nvidia shares rose 2.5%, nearing a record high. Other tech stocks, including Advanced Micro Devices Inc (NASDAQ: AMD) and Intel Corporation (NASDAQ: INTC), also saw gains, rising 1.1% and 0.9%, respectively, with all three experiencing some positive movement in aftermarket trading.
Broader Tech Sector Gains
Major tech companies like Apple Inc (NASDAQ: AAPL), Microsoft Corporation (NASDAQ: MSFT), and Alphabet Inc (NASDAQ: GOOGL) also advanced, with gains ranging from 0.4% to 1.3%.
On Monday, the S&P 500 increased by 0.1% to 5,308.13 points, while the NASDAQ Composite climbed 0.7% to a record high of 16,794.87 points. The Dow Jones Industrial Average, however, lagged behind, dropping 0.5% to 39,806.77 points.
Awaiting More Federal Reserve Cues Amid Rate Uncertainty
Markets remain cautious ahead of further guidance from the Federal Reserve this week, especially the minutes from its last meeting and speeches by several officials. Despite a rally sparked by slightly softer consumer inflation readings for April, several Fed officials have stressed the need for more confidence that inflation is decreasing before considering rate cuts.
Richmond Fed President Tom Barkin and New York Fed President John Williams, both members of the Fed’s rate-setting committee, are scheduled to speak later on Tuesday. The central bank might begin lowering rates by September, depending largely on the inflation trajectory.
Risk Warning and DisclaimerThe market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.
Tags:
Related articles
Mitsubishi Motors to extend suspension of production in China
{Current column}TOKYO (Reuters) -Mitsubishi Motors Corp will extend a suspension of its production in China beyond M ...
Read moreAsian stocks rise on China stimulus cheer; Australia lags before RBA By
{Current column}-- Most Asian stocks rose on Tuesday with Chinese markets leading gains on reports of more stimulus ...
Read moreYields, dollar dip, Dow hits record after US inflation data By Reuters
{Current column}By Caroline ValetkevitchNEW YORK (Reuters) -Treasury yields and the dollar fell while the Dow regist ...
Read more
Popular Articles
- Debt ceiling deal, Fed rate path, Erdogan's victory
- US stock futures steady after Nvidia pushes Wall St to record highs By
- Legendary Trader John Bollinger Breaks Silence on Bitcoin (BTC) Price Action: Details By U.Today
- 90% Cardano (ADA) Price Drop Predicted by Max Kaiser: Details By U.Today
- Dominion Energy, National Grid pursuing pipeline sales
- Fed balance sheet drawdown may go on if jobless rate does not move higher
Latest articles
-
4 big analyst picks: NVIDIA bags 3 upgrades on strong earnings, outlook By
-
Kazakhstan votes on whether to build first nuclear plant By Reuters
-
Job openings unexpectedly inch higher in August By
-
These 2 ad stocks are best positioned into Q4 says BMO By
-
5 Huge Analyst Calls: Block Hit With Sell Rating
-
Bitcoin price today: sinks to $60k with CPI in focus By