United States stock futures fell on Wednesday evening (Thursday AEST) as investors reacted to Nvidia’s latest quarterly results, which showed strong growth but left markets underwhelmed.
By 9:35 am AEST (11:35 pm GMT), Dow futures were down 0.1%, S&P 500 futures slipped 0.3%, and Nasdaq 100 futures dropped 0.5%.
Nvidia shares fell 3.1% in extended trading despite posting second-quarter adjusted earnings per share (EPS) of $1.05 on revenue of $46.74 billion, ahead of forecasts for $1.01 per share and $46.05 billion.
Data centre revenue climbed 56% year-on-year to $41.1 billion but came in shy of the $41.34 billion expected.
The chipmaker also confirmed it had no sales of its H20 chips to China during the quarter and did not include any shipments in its guidance.
Earlier this month, the White House said it was still assessing the legality of its proposed 15% export tax on Nvidia and AMD.
Elsewhere in earnings, Snowflake jumped 12.9% after reporting adjusted second-quarter EPS of $0.35 on $1.14 billion in revenue, estimates of $0.27 and $1.09 billion.
The data cloud company also issued upbeat guidance for the third quarter.
By contrast, CrowdStrike Holdings fell 3.9% after posting a second-quarter non-GAAP operating margin of 21.8%, down from 23.5% a year earlier.
While results topped expectations, the cybersecurity firm guided third-quarter revenue to $1.21 billion to $1.22 billion, below the LSEG consensus of $1.23 billion.
Urban Outfitters also tumbled 5.5% despite beating forecasts with EPS of $1.58 versus $1.48 expected on revenue of $1.5 billion versus $1.48 billion expected.
The futures moves followed a winning day for Wall Street benchmarks. On Wednesday, the Dow Jones Industrial Average rose 0.3%, while the S&P 500 and Nasdaq Composite each gained 0.2%, with the S&P 500 setting a fresh record close.
Investors have largely looked past political developments surrounding the Federal Reserve after President Donald Trump dismissed Fed Governor Lisa Cook earlier this week in an unprecedented move. Cook plans to challenge the dismissal legally.
