A trader works on the floor at the New York Stock Exchange on Feb. 24, 2025.
Brendan Mcdermid | Reuters
S&P 500 futures ticked higher early Thursday as investors digested Nvidia‘s latest results.
Futures tied to the broad market index inched higher. Nasdaq 100 futures added 0.28%. Dow Jones Industrial Average futures added 65 points, or 0.15%.
Nvidia shares were slightly lower even after the chip giant exceeded fourth-quarter estimates on the top and bottom lines. The company issued strong guidance, reflecting continued demand driven by the artificial intelligence race. Salesforce slid 5% on disappointing fourth-quarter revenue and light guidance.
On Wednesday, stocks came off the session’s highs as investors grew concerned about President Donald Trump’s trade policies. At his first cabinet meeting, he said that duties against Canada and Mexico would take effect and that his trade war will include a 25% tariff on goods from the European Union.
The S&P 500 eked out just a 0.01% gain on Wednesday, ending its four-day streak of losses. The 30-stock Dow dropped 188 points, or about 0.4%. The tech-heavy Nasdaq Composite added nearly 0.3%.
“Caution is warranted. The remarkable strength of equities in recent months suggests that any downside should be approached with care,” said Fawad Razaqzada, market analyst at Forex. “For the bulls, a corrective move lower wouldn’t be unwelcome, as it could present more attractive entry opportunities in the future. But today, everything else may well play second fiddle to Nvidia’s earnings result.”
Indeed, a flurry of recent economic reports — including a softer-than-expected consumer confidence reading, disappointing retail sales numbers and a weak consumer sentiment reading — have rattled stocks and raised worries about the health of the U.S. economy.
Traders will have an eye on Thursday’s weekly jobless claims, but they’re looking ahead to Friday’s personal consumption expenditures price index — the Federal Reserve’s preferred inflation gauge.
On the quarterly earnings front, Warner Bros. Discovery and Dell Technologies are slated to report Thursday.
