U.S. stock index futures rose slightly on Wednesday, as traders tried to regain their footing following a losing session.
Market Snapshot
At 07:45 a.m. ET, Dow e-minis were up 35 points, or 0.1%, S&P 500 e-minis were up 11.5 points, or 0.25%, and Nasdaq 100 e-minis were up 68.75 points, or 0.43%.
Pre-Market Movers
NVIDIA Corp - It reported Q3 adjusted earnings of $4.02 a share, easily topping analysts’ forecasts of $3.37, while revenue of $18.1 billion set a record. Stocks rose slightly in premarket trading and hit another all-time high of $506.5.
Microsoft - Sam Altman will be returning to OpenAI as chief executive. Microsoft is the largest investor in OpenAI. Stocks rose slightly in premarket trading.
HP Inc - It reported that fiscal fourth-quarter revenue fell 6.5% to $13.8 billion, in line with Wall Street estimates, but said it sees a turnaround coming in the year ahead. Stocks slid nearly 2% in premarket trading.
John Deere - It forecasts 2024 profit below analysts' estimates as high borrowing costs and squeezed budgets dented demand for farm equipment. Stocks fell nearly 6% in premarket trading.
VinFast Auto - Stocks continued to gain over 5% in premarket trading after soaring 11.75% yesterday. Wedbush Securities analyst Daniel Ives initiated coverage on it and offered a price target of $12 per share.
SAFE & GREEN DEVELOPMENT CORP - Stocks continued to jump over 6% in premarket trading after surging 33.22% yesterday. It will invest in Majestic World in exchange for access to its software platform Xene powered by AI technology.
DLocal Limited - Its chief financial officer would be stepping down and the company reported Q3 revenue that missed analysts’ forecasts. Stocks crashed nearly 10% in premarket trading.
Guess? - Its Q3 adjusted earnings were lower than expected and it cut its fiscal-year profit and revenue outlooks. Stocks tumbled over 15% in premarket trading.
Market News
Federal Reserve policymakers at their most recent meeting united around a strategy to “proceed carefully” on future interest-rate moves and base any further tightening on progress toward their inflation goal.
NVIDIA Corp said sales reached a record in its latest quarter and gave a positive outlook, it also gave a sunny forecast for its current quarter, projecting around $20 billion of sales, above expectations of about $18 billion.
OpenAI on Tuesday said it reached an agreement for Sam Altman to return as CEO days after his ouster, capping frenzied discussions about the future of the startup at the center of the artificial intelligence boom.
Amazon.com founder Jeff Bezos is expected to offload more of his stake in the company on Tuesday after selling shares worth about $240 million last week, Bezos may sell as many as 8 million to 10 million shares, amounting to more than $1 billion, the report said.
Binance chief Changpeng Zhao stepped down and pleaded guilty to breaking U.S. anti-money laundering laws as part of a $4.3 billion settlement resolving a years-long probe into the world's largest crypto exchange, prosecutors said on Tuesday.
Warren Buffett said on Tuesday he has donated about $866 million of Berkshire Hathaway stock to four family charities, and told shareholders "I feel good" as he moves nearer the sunset of his storied investing career.
HP Inc on forecasted first-quarter profit below Wall Street estimates but maintained its annual earnings outlook, a sign that demand in the personal computers market is still recovering.
Nordstrom missed Wall Street targets for third-quarter revenue on Tuesday, in a sign that sticky inflation pressured consumer spending in the months leading up to the all-important holiday shopping season.
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