Stock futures experienced a significant surge on Thursday, fueled by a notable rise in Nvidia shares following the company’s impressive earnings report.
– Futures tied to the **S&P 500** climbed by 1.3%, while those for the **Nasdaq 100** saw a gain of approximately 2%. **Dow Jones Industrial Average futures** also added 148 points, or 0.4%.
– Nvidia’s shares soared by about 13% in premarket trading after the chip giant reported a remarkable 265% increase in total revenue compared to the previous year. The surge was primarily fueled by the company’s booming artificial intelligence business. Nvidia also issued a bullish revenue forecast for the current quarter, further boosting investor confidence.
– The strong performance of Nvidia, along with other leading tech companies, has been driven by enthusiasm for artificial intelligence. The company’s stellar quarter is expected to reinforce positive sentiment in the broader tech sector.
– Market analysts believe that Nvidia’s continued investment in AI technology positions it for significant growth in the future, making it a favorable prospect for investors.
– The **Nasdaq Composite** is anticipated to rebound from its recent three-day losing streak, offering a potential turnaround for the tech-heavy index.
– Investors will also be keeping an eye on other corporate earnings reports, as well as key economic data such as weekly jobless claims and existing home sales figures for January.
– In addition to Nvidia, vaccine maker **Moderna** also saw its shares rise by over 5% in premarket trading after reporting better-than-expected revenue for the fourth quarter. The company’s strong financial performance was driven by robust sales of its COVID-19 vaccines.
– Meanwhile, Japan’s **Nikkei 225** index reached a record high, propelled by strong earnings reports and investor-friendly measures. The index surged nearly 2%, surpassing its previous all-time high set in 1989.
– Other notable movements in the market include declines in the shares of electric vehicle companies **Lucid Group** and **Rivian Automotive** following disappointing earnings reports and outlooks.
– Nvidia’s Data Center business recorded a remarkable 409% increase in fourth-quarter sales compared to the previous year, highlighting the growing demand for its AI-focused products.
Overall, the positive performance of Nvidia and other key players is expected to drive optimism in the market, despite some challenges faced by certain sectors.
