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U.S. stock futures traded near the flatline Thursday evening as investors assessed Nvidia’s blockbuster earnings-driven rally and awaited Federal Reserve Chair Kevin Warsh’s highly anticipated Jackson Hole speech on Friday.
S&P 500 futures slipped 0.1% to 7,734.75 points by 20:47 ET, while Nasdaq 100 futures declined 0.2% to 29,644.75. Dow Jones futures were largely unchanged at 53,625.0 points.
The muted futures session followed strong gains on Wall Street, led by Nvidia. The chipmaker’s shares surged 8.7% on Thursday after the company issued an upbeat revenue outlook, reinforcing confidence that demand for artificial intelligence infrastructure remains strong.
Nvidia’s rally helped push the S&P 500 up 0.7%, while the Nasdaq Composite climbed 1.6%. The Dow Jones Industrial Average gained 0.2%. Technology and AI-related stocks led the advance, with Salesforce and CrowdStrike also recording substantial gains.
Investor attention is now shifting toward Warsh’s first keynote address as Fed chair at the Kansas City Fed’s annual Jackson Hole symposium in Wyoming. Markets will closely examine his remarks for signals about the Federal Reserve’s interest-rate outlook and its strategy for addressing persistent inflation.
Recent hotter-than-expected inflation readings have raised concerns that the Fed may have limited flexibility to ease monetary policy. Longer-term Treasury yields have also remained elevated amid worries about inflation, government borrowing and future interest-rate decisions.
Elsewhere, crude oil prices advanced Thursday as geopolitical tensions remained in focus. The Wall Street Journal reported that President Donald Trump was not interested in returning to the terms of a June memorandum of understanding with Iran.
After the closing bell, Gap shares surged more than 13% following stronger-than-expected adjusted second-quarter earnings. The retailer also announced that Michael Francis would become CEO of its Old Navy brand.
Marvell Technology moved in the opposite direction, falling about 7% in extended trading. Despite issuing a solid outlook, the chipmaker’s non-GAAP gross margin forecast came in below market expectations, putting pressure on its shares.
