HomeTop Global NewsNasdaq Futures Up 2% Following Blowout Nvidia Earnings

Nasdaq Futures Up 2% Following Blowout Nvidia Earnings

Futures listed on the tech-heavy Nasdaq 100 advanced by 2% in early trading on Thursday after chipmaking giant Nvidia Corp released a blowout earnings report, raising its sales forecast as a result. With earnings showing that demand for its artificial intelligence is skyrocketing, Nvidia shares were up 13% during pre-market trading.

S&P 500 futures gained 1.1%, while those on the Dow Jones Industrial Average were up 0.2%. In Europe, the Stoxx 600 Index rose 0.6%, while the MSCI Asia Pacific Index was up 1.1%. The US dollar slipped, with the Bloomberg Dollar Spot Index edged lower by 0.2%.

“As goes Nvidia, so goes the market,” Kim Forrest, chief investment officer of Bokeh Capital Partners LLC remarked, speaking of Nvidia’s influence over the S&P 500 as well as the broader tech market. “It does confirm the narrative that AI is going to continue to be strong for the foreseeable future. This narrative supported the markets last year, why wouldn’t it do the same this year?”

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