Business

US stock futures point to new Wall Street records after strong Nvidia report

U.S. stock futures on Thursday signaled that new Wall Street records could be set, thanks to a positive report from a leading technology company in a strong quarter in earnings. of the company.

What’s going on
  • Futures contract based on the Dow Jones Industrial Average
    YM00,
    + 0.14%

    up 53 points, or 0.2%, 35920

  • Futures on S&P 500
    ES00,
    + 0.27%

    up 0.3%, or 13 points, to 4699

  • Nasdaq 100 futures contract
    NQ00,
    + 0.50%

    add 0.5%, or 78 points, to 16390

On Wednesday, the Dow Jones Industrial Average
DJIA,
-0.58%

down 211 points, or 0.58%, to 35931, S&P 500
SPX,
-0.26%

down 12 points, or 0.26%, to 4689 and Nasdaq Composite
COMP,
-0.33%

fell 52 points, or 0.33%, to 15922. The S&P 500 ended just 0.3% away from a record high and the Nasdaq Composite was just 0.4% away from a new record.

What is driving the market?

A strong quarter from graphics chip maker Nvidia
NVDA,
-3.12%
,
recorded a 50% jump in sales, helping to spark sentiment. Corporate earnings beat Wall Street estimates, as strong demand helped offset pressure from supply chain disruptions.

Chicago Fed President Charles Evans said late Wednesday that the disruption has lasted longer than he anticipated, though he still expects the central bank to end its bond-buying program by mid-2022 as predicted. present. Markets will be paying close attention to any signal on who President Joe Biden will choose to be Fed chair.

“The stock market rallied all year; they looked at inflation surprises, falling growth surprises and significant central bank price swings,” said strategists at Barclays led by Ajay Rajadhyaksha. Barclays strategists see limited upside potential for US equities but also do not expect a major sell-off, as there is significant downside risk.

Economic data for Thursday includes weekly jobless claims and the Philadelphia Fed manufacturing report.

https://www.marketwatch.com/story/u-s-stock-futures-point-to-fresh-wall-street-records-after-nvidias-strong-report-11637233307?rss=1&siteid=rss US stock futures point to new Wall Street records after strong Nvidia report

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