US pre-open: Futures in the green following Nvidia's earnings beat overnight
By Iain Gilbert
Date: Thursday 18 Nov 2021
(Sharecast News) - Wall Street futures were in the green ahead of the bell on Thursday after chipmaker Nvidia's forecast-beating earnings overnight.
As of 1230 GMT, Dow Jones futures were up 0.09%, while S&P 500 and Nasdaq-100 futures were 0.25% and 0.51% higher, respectively.
The Dow Jones closed 211.17 points lower on Wednesday following earnings from major retailers Lowe's and Target.
Thursday's primary focus, as always, will be the Labor Department's jobless claims data at 1330 GMT, with economists expecting initial filings for unemployment insurance to have fallen to 260,000 in the week ended 13 November 13, down from the prior week's print of 267,000.
Elsewhere on the macro front, the Philadelphia Federal Reserve's November manufacturing index will also be published at 1330 GMT, while the Conference Board's October leading index and the Kansas Fed's November composite index will follow at 1500 GMT and 1600 GMT, respectively.
In the corporate space, chipmaker Nvidia was in the green ahead of the bell after beating on both the top and bottom lines in its latest quarterly earnings report and offering up a positive outlook, while retailer Macy's smashed estimates on a 32% surge in same-store sales.
Boeing shares were flying higher prior to the open yet again after being on the receiving end of an upgrade from JP Morgan analysts, while food maker Kraft Heinz shares slumped in pre-market after the firm revealed it would be making a secondary offering of common stock.
Still to come, Applied Materials and Palo Alto Networks will report later on in the day.
The yield on the benchmark 10-year Treasury yield, while slightly higher, was sitting at 1.598% in pre-market after topping 1.61% at one point during yesterday's session.
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