Traders work on the floor of the New York Stock Exchange (NYSE) on November 12, 2024 in New York City.
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Stock index futures hovered near a flat line late Tuesday as investors focused on a key earnings report from technology giant Nvidia.
Futures and Dow Jones Industrial Average It’s up 7 points. S&P 500 Index Futures Not much has changed, but Nasdaq 100 Futures It fell slightly by less than 0.1%.
shares NVIDIA The company’s shares rose nearly 5% during regular trading on Tuesday as investors anticipated its latest results. Rising shares of Nvidia helped boost Nasdaq Index to 1% gain and S&P 500 Index up 0.4%.
On Wednesday afternoon, investors were looking forward to more than just better-than-expected third-quarter results from Nvidia. They want details on demand for Nvidia’s Blackwell AI chips, which CEO Jensen Huang described last month as “crazyHow is the semiconductor giant doing, considering its market capitalization of $3.6 trillion? set the tone S&P 500 and Nasdaq for the rest of the week.
“I’ve been a little bit inclined lately to look to expand trades and fade away some of these big names,” Lori Calvasina, head of U.S. equity strategy at RBC Capital Markets, told CNBC’s “Fast Money” on Tuesday. What is generally seen in the data is that despite the pushback in the value trade, large-cap growth stocks continue to come back and demonstrate their earnings dominance.”
elsewhere, Comcast The company is moving forward with plans to divest a slew of cable channels, including MSNBC and CNBC, the Wall Street Journal first reported on Thursday. Comcast first floated the idea during its third-quarter earnings report in October.
On the economic front, investors will also be watching for comments from Fed Governors Lisa Cook and Michelle Bowman and Boston Fed President Susan Collins.
— Revealed: Comcast owns NBCUniversal, the parent company of CNBC.
