Wall Street was poised to open with gains after Nvidia reported its financial results, according to the Associated Press. Futures for the Dow Jones Industrial Average climbed 0.6% before the bell, while futures for the S&P 500 and Nasdaq each gained 0.2%.
Nvidia, one of several companies that have benefited from the frenzy over artificial intelligence, reported earnings Wednesday after the bell. The results showed strong profit and revenue growth, but Nvidia shares were down 3.2% by early morning, though they are still up nearly 150% in 2024.
With a total market value topping $3 trillion, Nvidia is one of the most influential stocks on Wall Street and considered a bellwether for the broader AI industry.
Other companies making moves in the premarket were software company CrowdStrike and discount retail chain Dollar General. CrowdStrike dipped less than 1% after it reported better-than-expected sales and profit during its most recent quarter, during which a botched software update triggered a technology meltdown that stranded thousands of people in airports, among other disruptions. Dollar General tumbled nearly 25% after it missed sales and profit targets and cut its earnings-per-share guidance by more than a dollar.
The news was better for Best Buy. The nation’s largest consumer electronics chain’s shares jumped 6.8% after it beat Wall Street forecasts, even as sales slipped and it cut guidance.
In energy trading, benchmark U.S. crude rose 40 cents to $74.92 per barrel. Brent crude, the international standard, gained 30 cents to $77.88 per barrel.
In currency trading, the U.S. dollar rose to 144.66 Japanese yen from 144.44 yen.
