Investors Await Nvidia's Earnings Report, Jobless Data as US Futures Rise Wednesday

MT Newswires Live11-20

US stock futures were tracking modestly higher in Wednesday's premarket session as investors await Nvidia's (NVDA) earnings report and look ahead to key data coming out Thursday, including initial jobless claims, the Philadelphia Fed Manufacturing Index, and annual existing home sales.

Crude oil inventories will be released later Wednesday morning.

The Dow Jones Industrial Average futures were up 0.34%, S&P 500 futures were gaining 0.22%, and Nasdaq futures were moving 0.26% higher.

Oil prices were moving higher, with front-month global benchmarks Brent crude and West Texas Intermediate crude rising 0.64% and 0.78% respectively.

In equities, shares of Quantum-Si (QSI) soared 112% in Wednesday's premarket session after the company and SkyWaterTechnology (SKYT) said they expanded their collaboration to support the development of Quantum-Si's Proteus platform for proteomic research. Auburn National Bancorporation's (AUBN) stock advanced 11% after closing flat the previous day. And shares of Nauticus Robotics (KITT) surged 26% after it said late Tuesday that it plans to integrate and test its ToolKITT software on a remotely operated vehicle.

On the losing side, Target (TGT) stock was down more than 18% after it reported lower fiscal Q3 adjusted earnings from a year earlier, and issued lower-than-expected fiscal Q4 and 2024 adjusted EPS guidance. Powell Industries (POWL) shares fell 14%, a day after reporting lower-than-expected fiscal Q4 revenue. Fabrinet (FN) stock was down 6%, shaving Tuesday's gain.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment