Updated 2 min read
US stocks held their ground before the bell on Thursday as Wall Street pored over Nvidia’s (NVDA) earnings, looking for signs the tech-fueled record-breaking rally has more room to run.
S&P 500 futures (ES=F) were broadly steady in lackluster trade, keeping near an all-time high set on Wednesday. Dow Jones Industrial Average futures (YM=F) nudged up 0.1%, while those on the tech-heavy Nasdaq 100 (NQ=F) slipped just below the flat line.
The initial cloud over Nvidia is lifting a little as investors dig into its quarterly report, seen as a test of the AI trade driving stock gains this year. The chipmaker’s shares pared losses, down 1.4% after dropping as much as 3.5% as its after-hours earnings beat was overshadowed by disappointing data-center sales.
Nvidia stressed that chip demand is healthy, in a comeback to recent fears of an AI bubble about to burst. Its CEO Jensen Huang touted “extraordinary” demand for the company’s Blackwell AI chips and said that he sees China as a $50 billion opportunity, telling Yahoo Finance that the company is getting “fired back up” to sell chips into the country.
Focus is now shifting to economic data releases due later Thursday. Bets on interest-rate cuts face a reckoning with the release of updates on jobless claims and second quarter GDP, after Federal Reserve Chair Jerome Powell opened the door for cuts. But this week’s big test comes on Friday, with the July reading on PCE consumer inflation, closely watched by the central bank.
Elsewhere in earnings, cloud analytics firm Snowflake (SNOW) shares soared as its results indicated the company is benefitting from AI investments. HP (HPQ) stock took a wild ride before stabilizing as investors assessed the tech company’s ability to withstand new tariffs.
Read more: The latest on Trump’s tariffs
Meanwhile, CrowdStrike (CRWD) shares fell after its results signaled cautious clients amid economic uncertainty.
LIVE 7 updates
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The real winners in the stablecoin shift
Stablecoins promise to shake up the payments sector — and the outcome could be good for American shoppers, Yahoo Finance’s Hamza Shaban says in today’s Morning Brief.
He reports:
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Dollar General stock pops after guidance raise
Dollar General (DG) stock popped 6% in premarket trading after the company raised its financial outlook for 2025.
The dollar store chain now sees full-year profits of $5.80 to $6.30 per share, compared to its previous expectation of approximately $5.20 to $5.80 per share. It expects same-store sales to increase 2.1% to 2.6%, compared to its previous expectation of approximately 1.5% to 2.5%.
In the second quarter, Dollar General stores saw an increase in traffic as its value proposition drew wealthier customers. The company reported earnings of $1.86 per share on $10.7 billion in net sales. Both measures were well ahead of Wall Street estimates.
“Our improved execution, along with our progress advancing key initiatives, is resonating with both existing and new customers as we further enhance our value and convenience proposition,” CEO Todd Vasos said in a statement.
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Good morning. Here’s what’s happening today.
Economic data: Second quarter GDP; Second quarter personal consumption; Initial jobless claims (week ended Aug. 23); Pending home sales (July)
Earnings: Affirm (AFRM), Best Buy (BBY), Bath & Body Works (BBWI), Dick’s Sporting Goods (DKS), Dell (DELL), Dollar General (DG), Gap (GAP), Marvell (MRVL), Petco (WOOF), TD Bank (TD), Ulta (ULTA)
Here are some of the biggest stories you may have missed overnight and early this morning:
Nvidia CEO: China should take its cue from US tech
Nvidia stock slips after earnings beat but fail to wow
Big banks are rallying big time. Can it last?
The real winners in the stablecoin shift
Mexico bows to Trump with new tariffs on China
Snowflake shares surge as AI boom fuels demand
Nvidia joins record US buyback spree with $60B plan
Meituan’s loss warning fires up $27 billion China internet rout
Buffett lifts stakes in Japan trading houses, buoying shares
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Premarket trending tickers: Snowflake, Cooper Companies and CrowdStrike
Here’s a look at some of the top stocks trending in premarket trading:
Snowflake (SNOW) stock soared 14% before the bell on Thursday after the cloud analytics firm raised its forecast for fiscal 2026 product revenue on Wednesday. Snowflake is banking on strong demand for its data analytics services, as enterprises prioritize artificial intelligence spending.
Cooper Companies (COO) shares slumped 14% on Thursday in premarket trading after lowering its annual revenue forecast due to a slowdown in demand across certain geographies. The company saw a “noticeable drop” in demand for contact lenses in parts of Asia and a slowdown in America.
CrowdStrike (CRWD) stock fell 3% before the bell after the cybersecurity firm’s weak quarterly revenue forecast signaled the lasting effects of a botched update last year that caused a global outage.
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Alibaba hit after loss warning spurs $27 billion China rout
Alibaba’s (BABA) shares fell over 2% before the bell after a loss warning from Meituan (MPNGY), whose US-listed stock dropped almost 10%. JD.com also retreated, down over 3% amid concerns about China’s food delivery sector.
Together, the rivals erased almost $30 billion in market value in Hong Kong as the warning rattled investors.
Bloomberg reports:
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Some Nvidia charts to think on
Nvidia (NVDA) didn’t have a perfect quarter (data center sales miss; less “wow” earnings beat), but the Street is naturally sticking with the stock this morning, based on what I am seeing. I liked CEO Jensen Huang’s tone in his interview on Yahoo Finance last night.
Some good charts from Jefferies to think on the morning after earnings.
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Buffett’s Berkshire expands stakes in Japanese share houses
Bloomberg reports:
