Nvidia's quarterly results also boosted the semiconductor sector
Wall Street is mixed before the open, with futures tied to the S&P 500 Index (SPX) and the Nasdaq-100 Index (NDX) notably higher as Nvidia's (NVDA) beat-and-raise gives the semiconductor sector a lift. The chipmaker did warn, however, that further U.S. export measures will impact how it operates in China, risking a "permanent loss" in the world's second-largest economy.
Elsewhere, the Dow Jones Industrial Average (DJI) is slightly lower, after jobless claims slipped to a three-week low and durable-goods orders fell 5.2% in July.
Continue reading for more on today's market, including:
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.2 million call and 1.1 million put contracts exchanged on Wednesday. The single-session equity put/call ratio rose to 0.89 and the 21-day moving average stayed at 0.65.
- Nvidia Corp (NASDAQ:NVDA) stock is 7.5% higher premarket, after the chipmaker decimated analysts' second-quarter earnings and revenue expectations. The company's third-quarter guidance also implied a 170% jump in sales. Coming into today, NVDA already boasted a 222.4% year-to-date lead.
- Snowflake Inc (NYSE:SNOW) is up 8.5% in 2023, and looking to extend that lead with today's gains. The stock is 3.4% higher before the bell, after the tech firm reported second-quarter earnings and revenue that were higher than Wall Street expected.
-
The shares of apparel retailer Guess?, Inc. (NYSE:GES) are up 16.6% in electronic trading, after the company's quarterly results exceeded expectations. The clothier also lifted its full-year profit forecast, helping the equity cross back above its year-to-date breakeven level, should these premarket gains hold.
- There's no more pertinent economic data to unpack today.
Asian Markets Rise on South Korea's Central Bank Moves
Asian markets finished higher today, as investors unpacked the South Korean central bank’s decision to leave interest rates unchanged at 3.5%. South Korea’s producer price index also slowed for the 13th-straight month with a 0.2% rise year-over-year. In response, the country’s Kospi finished the day 1.3% higher. Hong Kong’s Hang Seng jumped 2.1%, while Japan’s Nikkei rose 0.9%, and China’s Shanghai Composite added 0.1%.
European markets are muted at last check, paring their early-morning gains, despite tailwinds from Nvidia (NVDA). London’s FTSE 100 is up 0.2%, while the French CAC 40 rises 0.05%, and the German DAX sits flat.