Futures are in black across the board
Futures on the Dow Jones Industrial Average (DJIA), S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) are higher Thursday, shaking off Nvidia's (NVDA) post-earnings dip. The chip giant's highly anticipated report included a second-quarter beat, but retreated before the bell, likely due to its already inflated chart outperformance. Meanwhile, peer Salesforce.com (CRM) also posted an impressive report, but is surging before the open, aiding in the blue-chip index's more than 200-point pop.
Continue reading for more on today's market, including:
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw 1.2 million call contracts and 816,520 put contracts exchanged on Wednesday. The single-session equity put/call ratio fell to 0.64 and the 21-day moving average stayed at 0.65.
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Shares of retail chain Dollar General Corp (NYSE:DG) are plummeting before the bell, down 24% after cutting its full-year profit forecast and sharing disappointing quarterly results. Over the past 12 months, DG has shed 20%.
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American Eagle Outfitters Inc (NYSE:AEO) is shifting lower pre-market, down 9% after sharing mixed quarterly results that missed sales expectations. An upbeat current-quarter forecast was overshadowed by a lackluster full-year outlook. Aside from today, AEO has been working to
turn things around, now in black year-to-date.
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Investors are also
digesting earnings out of
Best Buy Co Inc (NYSE:BBY), where the retailer posted a profit and revenue beat. The equity also hiked its full-year guidance. BBY has been in recovery mode since it pulled back to the 160-day moving average earlier this month.
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NVDA Earnings in Focus Overseas
Chipmaker Nvidia’s declining gross margins dinged Asian markets on Thursday, with tech stocks bearing the brunt of those losses. Hong Kong’s Hang Seng was the only gainer with a 0.5% pop, while Japan’s Nikkei settled 0.02% lower. Elsewhere, South Korea’s Kospi and China’s Shanghai Composite suffered steeper 1% and 0.5% losses, respectively.
European markets are higher on the heels of Germany’s inflation data, which showed a surprise 2% drop in August. The reading may encourage the European Central Bank (ECB) to pursue more interest rate cuts going forward. The German DAX and France’s CAC 40 were last seen sporting a 0.7% lead, and London’s FTSE is up 0.4%.