U.S. stock futures edged higher on Wednesday as investors prepared for quarterly earnings from AI powerhouse Nvidia (NASDAQ: NVDA).
As of 06:37 ET (11:37 GMT), Dow futures were up 134 points (0.3%), S&P 500 futures gained 31 points (0.5%), and Nasdaq 100 futures climbed 166 points (0.8%).
In the previous trading session, the benchmark S&P 500 and the tech-heavy Nasdaq Composite both slipped, while the Dow Jones Industrial Average rose 160 points (0.4%). Traders weighed fresh economic data revealing a decline in U.S. consumer confidence, as households expressed concerns over inflation and the potential impact of former President Donald Trump’s proposed import tariffs.
Nvidia in Focus
Market attention is centered on Nvidia’s fourth-quarter results, set to be released after the closing bell. As a leading player in AI development, Nvidia is expected to report revenue of $38.25 billion, with $34.06 billion anticipated from its crucial data center segment, according to Bloomberg estimates. For the first quarter, Nvidia is projected to forecast $42.26 billion in revenue.
Executives are likely to address rising competition from low-cost AI models, particularly from Chinese start-up DeepSeek, which has sparked questions about the long-term profitability of AI investments by major U.S. tech firms. Nvidia faced a major setback in late January, losing $593 billion in market value in a single session—the worst one-day loss in Wall Street history.
Notable Stock Moves
Super Micro Computer (SMCI) surged in premarket trading after filing delayed financial reports, ensuring compliance with Nasdaq listing requirements.
Lowe’s (LOW) rose following stronger-than-expected fourth-quarter earnings, bolstered by its strategy to expand market share among both retail and professional customers.
Workday (WDAY) jumped over 12% in premarket trading after reporting better-than-expected fourth-quarter earnings and revenue, along with strong forward guidance.
SES AI (SES) and Nano Nuclear Energy (NNE) gained after reports that Meta Platforms (NASDAQ: META) is in talks to develop a new AI-focused data center campus.
Flywire (FLYW) fell following weaker-than-expected fourth-quarter revenue.
Commodities and Cryptos
Oil prices remained subdued after hitting two-month lows in the prior session, with traders awaiting official U.S. stockpile data. Gold prices hovered near flat levels, holding steady amid lingering uncertainty over tariffs and economic growth. Meanwhile, Bitcoin traded near a three-month low, as trade and economic concerns continued to fuel risk-averse sentiment across the cryptocurrency market.
