Stock Futures Rise Ahead of Nvidia Earnings as Wall Street Tries to Break 4-Day Slide
U.S. stock futures rise as investors await Nvidia’s earnings after a four-day market slide. Tech stocks try to rebound, global markets remain under pressure, and DoorDash, Target, and Lowe’s move on corporate updates.
Traders at the New York Stock Exchange watch markets open as Wall Street eyes Nvidia’s earnings following a four-day slide in major indexes.
On Wednesday, U. S. stock futures made a slight upward movement as the market participants were relying on Nvidia’s quarterly results, which were highly anticipated, to calm the fear of an overheated AI sector. This move follows the losses of the past four days for the Dow and S&P 500, and the broader tech sell-off, which has put pressure on the global stock markets.
The futures for the Dow Jones Industrial Average rose by 34 points (0.1%), and the futures for S&P 500 and Nasdaq 100 increased by 0.2% and 0.3%, respectively.
Nvidia Leads Pre-Market Rebound
Nvidia shares gained more than 1% premarket, ahead of its third-quarter earnings due after the closing bell. AI-linked companies including Palantir Technologies and Broadcom also moved higher.
Analysts at Wolfe Research said fears of an AI bubble are “overblown for now,” adding that any soft patch in the U.S. economy would still leave major tech and communication services firms well-positioned. They expect AI-focused stocks to remain attractive on dips, with Nvidia’s results likely acting as the next major catalyst.
Markets Struggle to Recover
On Tuesday, the Dow and S&P 500 logged their fourth straight day of losses — the worst run for the S&P 500 since August. The Nasdaq Composite recorded its fifth negative session in six days.
Bitcoin briefly dipped below $90,000, and gold prices rebounded from a one-week low.
Despite most sectors finishing higher Tuesday, big tech once again dragged markets down. The Technology Select Sector SPDR (XLK) fell 1.6%, extending a month-long slide. Technology and consumer discretionary remain the weakest performers in November, while healthcare continues to lead.
All Eyes on Nvidia’s Earnings
Investors broadly expect Nvidia to deliver another beat, driven by explosive demand for its AI chips and data-center infrastructure. But with valuations stretched, analysts warn that expectations are extremely high. Recent profit-taking reflects concerns that AI leaders may be priced for perfection.
Dollar Index Hits New High
The U.S. dollar index climbed to 99.792, its highest level since November 7. The benchmark is now on track for its first positive week in three, up 0.4% so far.
Global Markets Mirror U.S. Weakness
European and Asian markets continued to fall, following Wall Street’s downturn. AI-heavy names like Nvidia, Microsoft, and Palantir are under pressure globally. Yet analysts maintain the drop is more of an “AI-specific pullback” than the start of a broader market decline.
Jefferies Upgrades DoorDash
Jefferies upgraded DoorDash to Buy from Hold, raising its price target to $260. The firm cited new advertising revenue opportunities and strong operating performance. DoorDash shares, up 26% this year, have fallen 20% over the past month.
Target Cuts Profit Outlook
Target shares slipped over 1% after lowering its full-year earnings forecast, citing softer consumer spending and increased bargain-hunting. The retailer expects EPS between $7 to $8, down from its earlier projection of $7 to $9.
Lowe’s Pops on Earnings Beat
Lowe’s stock jumped more than 4% after reporting better-than-expected third-quarter results, delivering adjusted EPS of $3.06, above analyst estimates.
