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Stocks Rebound on Nvidia’s ‘Pretty Good’ Results: Markets Wrap

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Stocks in Asia are poised to track their US peers lower on Thursday after underwhelming earnings from Nvidia Corp. dampened the outlook for tech stocks.

Nvidia said third-quarter revenue will be about $32.5 billion, the company said Wednesday. Though analysts had predicted $31.9 billion on average, estimates ranged as high as $37.9 billion. Ed Ludlow has more on"Bloomberg The Close."

Nasdaq 100 Index futures added 0.2% after earlier sliding as much 1.4%. S&P 500 contracts also rose and Germany’s DAX Index hit a new record. Nvidia, which had tumbled sharply in trading after the close of US exchanges, was down less than 4% in pre-market trading. Intel Corp., Apple Inc. and Microsoft Corp. all posted small gains.Nvidia, a stock that’s powered the bull market this year with a rally of more 150%, delivered a mixed picture to investors.

The moves in US markets signaled a comeback from late Wednesday, when tech got hit after Nvidia’s sales forecast underwhelmed and it signaled that it was working through production snags with its new Blackwell chip. A $286 billion exchange-traded fund tracking the Nasdaq 100 lost 1% after the close of regular trading.

The Fed’s preferred inflation gauge may firm up bets on how much and how quickly the central bank will ease policy, with the annual and month-on-month core PCE readings due Friday. Later on Thursday, weekly jobless claims data will offer a snapshot of the labor market.

 

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