Stock futures pointed sharply higher Thursday, a day after AI darling Nvidia (NVDA) reported quarterly results above analysts’ lofty expectations.
Futures associated with the tech-heavy Nasdaq, benchmark S&P 500, and blue-chip Dow Jones Industrial Average were up a respective 1.8%, 1.3%, and 0.7%. Yesterday, the Dow and S&P 500 snapped four-session skids ahead of Nvidia’s earnings, while the Nasdaq ended higher for the first time this week.
In addition, the U.S. added 119,000 jobs in September, more than double the expected amount, after the report was delayed since Oct. 3 because of the 43-day U.S. government shutdown. The Bureau of Labor Statistics also announced Wednesday that full October jobs data will not be released.
After the bell Wednesday, Nvidia’s fiscal 2026 third-quarter results blew past Wall Street expectations and the company also issued rosy revenue guidance for the current quarter, with CEO Jensen Huang saying sales of its AI Blackwell platform are “off the charts.”
Nvidia shares surged in extended trading and recently were up 5%. Shares of fellow AI chipmakers rose in their wake, including those of Advanced Micro Devices (AMD), Broadcom (AVGO), and Intel (INTC), which were up a respective 4.5%, 3.5%, and 2% before the bell.
Nvidia’s “Magnificent Seven” brethren of large-cap technology companies—in order of market capitalization, Apple (AAPL), Microsoft (MSFT), Alphabet (GOOG; GOOGL), Amazon (AMZN), Meta Platforms (META), and Tesla (TSLA)—all pointed higher as well.
Walmart (WMT) shares rose about 1% after it reported better-than-expected third-quarter profit and revenue, and raised its fiscal 2026 outlook. The world’s largest retailer also announced it was switching its stock listing to the Nasdaq from the New York Stock Exchange.
Bitcoin, which hit its lowest level since April 22 yesterday, was trading around $91,900, up from $89,400 overnight.
The yield on the 10-year Treasury note ticked lower from Wednesday’s close to 4.12%. The U.S. dollar index, which tracks the performance of the dollar against a basket of foreign currencies, ticked higher to 100.30.
WTI crude futures, the U.S. oil benchmark, advanced 1% to about $60 per barrel. Gold futures were little changed at $4,085 per ounce.