Business

Nasdaq 100 futures fall slightly after chip giant Nvidia provides light guidance

The trader works on the New York Stock Exchange NYSE in New York, USA on May 18, 2022.

Michael Neagle | Xinhua News Agency | Getty Images

Equity futures were mixed as investors digested disappointing updates from technology industry pioneer Nvidia on Wednesday evening.

Stock futures related to the Dow Jones Industrial Average rose 12 points to less than 0.1%. Shares on the S & P 500 fell below 0.1%, while Nasdaq 100 futures fell 0.2%.

Futures moves come after some disappointing quarterly reports from the tech sector. Shares in chip maker Nvidia fell more than 6% in extended transactions after the company delivered. Guidance weaker than expected in the second quarter.. The company’s CFO said Nvidia would delay hiring.

Similarly, software stock Snowflake Nearly 14% fall After the company’s operating margin guidance was narrower than expected.

First-quarter earnings of the market as a whole are in line with historical trends, but some major equities have been drama after earnings reports as investors are focusing on the effects of inflation and slowing economic growth. Retreated.

Jeremy Gon Salves, National Director of Portfolio Management at BNY Mellon Wealth Management, said:

stock Rise during normal market hours on Wednesday, Nasdaq took the lead with a 1.5% rise. The S & P 500 rose 0.9% and the Dow rose 0.6%.

All three indexes are positive that week and put them in orbit to snap long loss lines. The Dow has fallen for eight consecutive weeks, while the S & P 500 and Nasdaq have each fallen for seven consecutive weeks.

One of the bright spots for profitable investors was Williams Sonoma’s retail business. This surged 6% in long-term trading after surpassing top-line and bottom-line estimates. Macy’s, Dollar Tree, and Dollar General are one of the companies reporting results before the bell on Thursday.

Also on Thursday, investors will get the latest weekly unemployed billing information and a second reading of GDP in the first quarter. Data on pending home sales continue in the morning.

Nasdaq 100 futures fall slightly after chip giant Nvidia provides light guidance

Source link Nasdaq 100 futures fall slightly after chip giant Nvidia provides light guidance

Back to top button