US pre-open: Wall Street futures hold steady as traders await Nvidia earnings
By Iain Gilbert
Date: Wednesday 27 Aug 2025
(Sharecast News) - Wall Street futures were little changed ahead of the bell as investors awaited quarterly earnings from AI darling Nvidia.
As of 1250 BST, Dow Jones futures were up 0.02%, while S&P 500 and Nasdaq-100 futures had both indices opening 0.05% firmer.
The Dow closed 135.60 points higher on Tuesday following a late rally, though disappointing economic data and renewed concerns about the independence of the Federal Reserve limited upside.
Wednesday's primary focus will undoubtedly be Nvidia's earnings report, scheduled for release after the close of trading, with earnings from the S&P 500's largest constituent, widely viewed as a bellwether for broader market sentiment and a key proxy for AI development, coming at a pivotal moment for US equities, with the "Magnificent Seven" cohort looking to recover from last week's sell-off. Analysts expect Nvidia's update to act as a swing factor for the year-to-date rally, particularly given the firm's outsized weighting in major indices and its role in driving AI-related optimism across sectors.
Rostro's Joshua Mahony said: "The incredible rise of Nvidia has taken the company from a $1trn valuation to over $4trn market cap in just two years. Whilst markets are constantly second-guessing when this gravy train will come to a halt, the persistent ability to beat market earnings expectations has helped drive the stock on its upward trajectory. This time around there will be plenty of focus on both the backwards-looking data, but also a significant focus on how the company sees the second half of 2025.
"While Trump has allowed the export of H20 chips (with a 15% tax), the Chinese government have ensured that companies look elsewhere. As such, a significant focus will be on how Nvidia plans to overcome this hurdle by developing a new chip for the Chinese market. Meanwhile, traders will be watching closely for updates on demand for the Blackwell chips, with the company expecting this new product will provide a fresh source of demand going forward."
Elsewhere in the corporate space, Foot Locker posted a second-quarter loss of $38m on revenues of $1.86bn, while Kohl's raised its full-year guidance despite seeing Q2 net sales decrease 5.1%.
CrowdStrike, Trip.com, HP, and Urban Outfitters will report earnings after the close.
On the macro front, US mortgage applications eased 0.5% in the week ended 22 August, according to the Mortgage Bankers Association, extending the prior week's 1.4% decline and partially unwinding the 14% surge seen across the first half of August. Last week's modest pullback coincided with a one basis point increase in the benchmark 30-year mortgage rate, as long-dated Treasury yields held firm following pro-inflationary signals in recent leading indicators. Applications to refinance a mortgage, which are more sensitive to short-term interest rates, led the decline, dropping 3.5% week-on-week, offsetting a 2.2% increase in applications to purchase a home.
Reporting by Iain Gilbert at Sharecast.com
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN