U.S. stock futures edged higher early Wednesday as investors awaited chip giant Nvidia’s (NVDA) third-quarter results. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.07%, 0.08%, and 0.03%, respectively, at 3:18 a.m. EST on November 19.
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During Tuesday’s trading session, all three major indexes closed lower, led by declines in tech names including Nvidia, Palantir (PLTR), Microsoft (MSFT), and Advanced Micro Devices (AMD).
The Dow and S&P 500 recorded their fourth consecutive sessions of decline, while the Nasdaq Composite slipped for the fifth time in six days. Specifically, the Nasdaq fell by 1.21%, the Dow dropped 1.07%, and the S&P 500 decreased by 0.83% during this period.
Investors are closely watching Nvidia’s earnings report after the market closes, as it is expected to offer important insights into the momentum of AI-driven growth and the broader technology sector outlook.
Other notable companies reporting earnings today include Target (TGT), Lowe’s (LOW), and TJX Companies (TJX).
Notably, the U.S. 10-year Treasury yield was down, floating near 4.11%. WTI crude oil futures were trending lower, hovering near $60.44 per barrel as of the last check. Additionally, the Gold Spot U.S. dollar price increased to nearly $4,084 per ounce on Wednesday.
Elsewhere, in Europe, markets opened mostly lower on Wednesday, amid ongoing concerns about the AI sector. Notably, the U.K.’s annual inflation rate dropped to 3.6% in October, increasing the likelihood of a Bank of England (BOE) rate cut around Christmas.
Asia-Pacific Markets Traded Mixed
Asia-Pacific markets traded mixed on Wednesday, following the global downturn in tech shares.
Hong Kong’s Hang Seng Index fell 0.32%. In China, the Shanghai Composite rose 0.18%, while the Shenzhen Component dropped 0.31%. Meanwhile, Japan’s Nikkei declined 0.34%, and the Topix slipped 0.17% as trade tensions between Japan and China rise.
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