US pre-open: Futures higher following Nvidia earnings
By Iain Gilbert
Date: Thursday 27 Feb 2025
(Sharecast News) - Wall Street futures were in the green ahead of the bell following earnings from AI-darling Nvidia overnight.
As of 1225 GMT, Dow Jones futures were up 0.26%, while S&P 500 and Nasdaq-100 futures were up 0.59% and 0.61% firmer, respectively.
The Dow closed 188.04 points lower on Wednesday, reversing gains recorded in the previous session.
Nvidia traded slightly higher in pre-market after the chipmaker beat fourth-quarter estimates on both the top and bottom lines and issued strong forward guidance, pointing to continued demand despite the emergence of new Chinese competitor DeepSeek.
Trade Nation's David Morrison said: "US stock index futures were firmer in early trade this morning, with modest gains for all the tech majors. Despite this, the S&P 500 is back below 6,000 having traded at an all-time high just under 6,150 this time last week. There is growing concern over President Donald Trump's tariff threats. Mr Trump held his first cabinet meeting yesterday and said that the postponed 25% levies on US imports from Canada and Mexico would kick in next week, with tariffs on Europe to follow.
"So far, the only tariff in effect is the additional 10% on Chinese goods. Traders will keep a close eye on today's weekly unemployment claims. But now that Nvidia is out of the way, the focus turns to tomorrow's key inflation update."
On the macro front, weekly jobless claims data and a preliminary reading of Q4 GDP will be published at 1330 GMT, while January pending home sales figures were slated for release at 1500 GMT, and the Kansas Federal Reserve's February manufacturing index will follow at 1600 GMT.
Elsewhere in the corporate space, Salesforce shares headed south in pre-market trading following disappointing Q4 revenues and a softer-than-expected outlook.
Reporting by Iain Gilbert at Sharecast.com
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