Futures Tick Higher Ahead of Nvidia Results

November 20,2024 07:23 am EST

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Futures Tick Higher Ahead of Nvidia Results

Stock futures ticked higher on Wednesday, as investors looked toward a key earnings report from tech giant Nvidia.

Futures for the Dow Jones Industrials moved higher 78 points, or 0.2%, to 43,478.

Futures for the S&P 500 surged 87.5 points, or 0.2%, to 5,947.50

Futures for the NASDAQ Composite Index took on 42.5 points, or 0.2%, to 20,810.25.

Nvidia is set to report after the close. Investors will look for demand details on the company's Blackwell AI chips, which CEO Jensen Huang last month characterized as “insane.” How the semiconductor giant fares – given its market capitalization of $3.6 trillion – could set the tone for the S&P 500 and the NASDAQ Composite for the rest of the week.

Retailer Target posted its biggest earnings miss in two years and cut its full-year guidance, sending shares down 20%.

Shares of Comcast rose more than 2%. The telecommunications giant is expected to announce on Wednesday a spinoff of its cable networks, including MSNBC and CNBC. The separation is expected to take roughly a year. The news was first reported by The Wall Street Journal.

In Japan, the Nikkei 225 eased 0.2% Wednesday, while in Hong Kong, the Hang Seng prospered 0.2%.

Oil prices tacked on 41 cents to $69.80 U.S. a barrel.

Gold prices shone brighter $2.50 to $2,633.50 U.S. an ounce.