Nvidia is tracked on a screen as traders work on the floor of the New York Stock Exchange on October 23, 2023.
Brendan McDiarmid | Reuters
Stock futures rose Wednesday night as investors analyzed the latest U.S. earnings reports. Nvidia and other well-known technology companies.
Dow Jones Industrial Average Futures It rose by 242 points (0.5%). S&P500 futures Although it rose by 0.6%, Nasdaq 100 futures It rose by 1.07%.
In Asia, Japan’s Nikkei Stock Average rose 0.49% and the TOPIX rose 0.15%. of Kospi rose 2.48%, while the small-cap Kosdaq rose 1.06%. australian benchmark S&P/ASX 200 It was slightly lower.
Nvidia shares rose more than 4% after the company beat analysts’ expectations and predicted strong future sales growth. The company’s second-quarter fiscal sales more than doubled, beating expectations by the largest amount in two years.
Nvidia is looking to break a recent pattern of its stock falling despite issuing stronger-than-expected reports. Still, Nvidia shares fell more than 1% in Wednesday trading as investors awaited the announcement, marking the tech giant’s eighth day of declines in the past nine.
“For us as long-term investors, the stock is too cheap to ignore,” said Jamie Myers, senior securities analyst at Laffer Tengler Investments. “All we need is for the multiple to move forward and the stock should get better over time.”
sales force The company rose 13% after second-quarter sales beat Wall Street expectations. Octa It soared more than 20% after the company reported a surge in demand from agent AI, beating analysts’ expectations.
The three major indexes ended Wednesday’s trading little changed. In addition to big profits, traders are also preparing for the start of the Federal Reserve’s annual symposium, which opens Thursday in Jackson Hole, Wyoming.
Investors will also be watching best buy Earnings are expected to be released before the bell Thursday and will be announced afterward. working day, affirm and gap After the market closes.
