United States equity futures were muted on Thursday evening (Friday AEST) as Wall Street digested another record close for the S&P 500, fuelled by optimism around artificial intelligence, alongside a wave of fresh corporate earnings.
At 9:35 am AEST (11:35 pm GMT), Dow futures, S&P 500 futures, and Nasdaq 100 futures declined 0.1% apiece.
Earnings drove much of the after-hours action.
Dell Technologies fell 4.8% after posting stronger-than-expected second-quarter results but guiding below consensus for the third quarter.
Ulta Beauty rose 2.5% after lifting its full-year earnings and revenue outlook, while Affirm Holdings surged 15.6% on stronger-than-expected quarterly results, reporting 20 cents per share in earnings versus 11 cents forecast, with revenue of $876 million against $837 million expected.
Marvell Technology dropped 10.8% after issuing a weaker-than-expected third-quarter revenue outlook.
Gap slipped 1.3% after second-quarter revenue of $3.73 billion missed the $3.74 billion forecast.
In contrast, Autodesk rallied 10% after raising its full-year guidance, forecasting adjusted earnings per share of $2.48–$2.51 compared with estimates of $2.39, and revenue of $7.03–$7.08 billion versus the $6.97 billion consensus.
Thursday’s moves followed a positive session in which the Dow Jones Industrial Average and S&P 500 closed at record highs, while the Nasdaq Composite gained 0.5%.
Nvidia’s quarterly report, though sparking initial concerns about its data centre performance and modest near-term guidance, ultimately reassured investors about the AI trade, lifting semiconductor peers.
Attention now shifts to Friday’s release of the personal consumption expenditures (PCE) price index, the Federal Reserve’s preferred inflation measure. Economists expect a 0.2% monthly rise in July and a 2.6% annual increase.
