Dow Jones Today: Stock Futures Inch Higher as Investors Await Nvidia Earnings Report

Stock futures were pointing to a higher open for major indexes on Wednesday ahead of the highly anticipated release of quarterly results by AI investor favorite Nvidia (NVDA) after the closing bell.

Futures tied to the Dow Jones Industrial Average, S&P 500 and Nasdaq 100 were each up 0.2% about 45 minutes before the opening. The S&P 500 and Nasdaq have gained ground for two straight days, recovering a portion of the losses recorded last week when a big post-election rally fizzled. The Dow is riding a four-session losing streak.

Nvidia’s earnings report, slated for release after the closing bell, is the big event of the week for financial markets, which have grown accustomed to blockbuster numbers from the AI chipmaker and expect more of the same today. Nvidia shares, which gained 5% yesterday, were up 0.5% before the bell Wednesday.

Other mega-cap technology stocks were mixed but little changed this morning. Microsoft (MSFT) and Meta Platforms (META) were inching higher, while Apple (AAPL), Tesla (TSLA), Amazon (AMZN) and Alphabet (GOOGL) were down slightly.

The big mover this morning is Target (TGT), which was down 18% after the retailer reported results that came in short of Wall Street expectations on both the top and bottom lines. Shares of TJX Companies (TJX) were down about 3% after the parent of TJ Maxx and Marshalls released its quarterly results.

Comcast (CMCSA) shares were up 2% after the company confirmed plans to spin off several of its cable channels, including USA Network, CNBC and MSNBC, into a separate, publicly traded company.

Bitcoin (BTCUSD) rose to another record high, trading around $94,500, after surpassing $94,000 for the first time yesterday. Since Donald Trump’s election victory, the cryptocurrency has gained about 35% amid optimism that the incoming administration will establish policies that broadly benefit the asset class.

Gold futures, which have lost ground since the election as the U.S. dollar has strengthened, were up slightly this morning at $2,640 an ounce, while oil futures were up slightly.

The yield on 10-year Treasurys, which has risen in recent weeks as investors have scaled back their expectations for the Federal Reserve to cut interest rates aggressively, was at 4.43%, up from 4.38% on Tuesday.