Stock Market Today: Live Updates

Stock futures reversed their overnight losses and traded higher Thursday as investors bought the decline in Nvidia shares that followed its earnings late Wednesday.

Nasdaq-100 Futures Contracts added 0.6%, paring earlier losses. S&P 500 Futures Contracts increased by 0.5%. Dow Jones Industrial Average Futures gained 165 points, or 0.4%.

Nvidia reported better-than-expected third-quarter results and issued strong guidance after the bell Wednesday. But shares of the AI ​​chip giant, which are already up 194% this year, initially fell in response. Some traders cited the chipmaker’s slowing revenue growth compared to previous quarters as a cause for concern. Or that the chipmaker didn’t beat the most optimistic estimate in its guidance for the next quarter.

But the stock moved into the green in premarket trading as investors bought the dip and most Wall Street analysts issued bullish earnings reports and raised their price targets. Shares were last up about 2%.

“Any weakness will likely be bought for investors, but traders who demand beats and increases every quarter could lighten their exposure if no significant beats occur for a few quarters,” said Eric Clark, portfolio manager at Rational Dynamic Brands. Fund, about Nvidia. “When growth and momentum investors exit a stock, they usually leave skid marks.”

Market sentiment was also boosted by the crypto market. Bitcoin broke the $98,000 level for the first time on Wednesday evening, as investors remained hopeful that a second Donald Trump presidency would bring in industry-friendly regulations. It last traded around $97,451.

THE S&P500 ended Wednesday almost flat as investors awaited Nvidia’s results.