United States stock futures traded higher on Wednesday night (Thursday AEDT) as investors absorbed Nvidia’s blockbuster quarterly results, which appeared to restore confidence in major technology names and revive the broader AI-driven market rally.
By 10:50 am AEDT (11:50 pm GMT) Dow futures added 0.4%, S&P 500 futures gained 1%, and Nasdaq 100 futures lifted 1.5%.
Nvidia shares rallied 5.2% in after-hours trade after the chipmaker posted stronger-than-expected earnings and revenue, alongside a robust fourth-quarter sales forecast.
The upbeat results boosted sentiment across the AI ecosystem in extended trading. Advanced Micro Devices climbed 4.1%, Broadcom added 2.8%, and Taiwan Semiconductor rose 3.1%.
Elsewhere, Palo Alto Networks slipped 4.1% despite narrowly topping fiscal first-quarter expectations. Its second-quarter revenue outlook - between US$2.57 billion and US$2.59 billion - landed slightly below analyst forecasts.
Stocks tied to data centre infrastructure were also lifted by Nvidia’s numbers, with Constellation Energy up around 2.7%, and Vertiv gaining 5.8%.
In the prior session, all three major U.S. indexes finished higher as investors awaited Nvidia’s results.
Even so, the indexes remain lower for the week amid a sharp pullback across several high-growth names.
Minutes from the Federal Reserve’s October meeting, released Wednesday afternoon, showed officials divided over whether inflation or a weakening labour market poses the greater threat to the economy.
Many policymakers signalled that no further rate cuts would be appropriate in 2025, casting doubt on expectations for a December reduction.
Traders are currently pricing a 33% chance of a quarter-point cut at next month’s meeting, significantly lower than a month ago, according to the CME Group FedWatch Tool.
Attention now turns to Thursday morning’s release of September nonfarm payrolls, delayed due to the U.S. government shutdown.
