Q2 Growth Data, Nvidia Earnings in Focus as US Equity Futures Tread Water Pre-Bell

MT Newswires Live
08/28

US equity futures were flat ahead of Thursday's opening bell as traders digested quarterly earnings from chipmaker Nvidia (NVDA) and Q2 economic growth data.

Dow Jones Industrial Average futures were up 0.1%, S&P 500 futures were flat, and Nasdaq futures were 0.1% lower.

Nvidia reported late Wednesday higher Q2 adjusted earnings and revenue that also topped analysts' estimates.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.1% at $67.35 per barrel and US West Texas Intermediate crude 0.1% lower at $64.04 per barrel.

The Q2 Gross Domestic Product report, released at 8:30 am ET, showed an upward revision to a 3.3% gain from 3% previously, compared with estimates compiled by Bloomberg for a 3.1% increase. New unemployment claims dropped to 229,000 in the week ended Aug. 23 from 234,000 in the prior week, compared with estimates for 230,000.

The July Pending Home Sales index, due at 10 am ET, is expected to show a 0.4% downtick versus June's 0.8% decline.

In other world markets, Japan's Nikkei closed 0.7% higher, Hong Kong's Hang Seng ended 0.8% lower, and China's Shanghai Composite finished 1.1% higher. Meanwhile, the UK's FTSE 100 was down 0.3%, and Germany's DAX index was flat in Europe's early afternoon session.

In equities, Snowflake (SNOW) stock was up 13%, a day after the company reported higher fiscal Q2 adjusted earnings and revenue. Green Plains (GPRE) shares were 16% higher, a day after the company said it has agreed to sell its ethanol plant in Tennessee for $190 million.

On the losing side, Cooper (COO) stock was down 16% after the company lowered its fiscal 2025 revenue guidance.

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