Nasdaq futures rise as Nvidia sparks tech rally: Stock market news today

Stocks futures were mixed Wednesday morning as another blowout quarterly earnings report from Nvidia (NVDA) led tech stocks higher.

Futures tied to the tech-heavy Nasdaq led gains, jumping about 1% and while those tied to the S&P 500 popped about 0.4%. Dow Jones Industrial Average futures were down about 0.2%.

Investors will also spend Thursday awaiting Friday morning’s highly-anticipated speech from Fed Chair Jay Powell in Jackson Hole.

On Wednesday stocks, finished in the green across the board ahead of Nvidia’s earnings, and the tech giant did not disappoint.

The company reported revenue of $13.51 billion, a 101% jump from last year, while adjusted earnings came in at $2.70 per share, up 429% from last year. Shares rose as much as 8% in pre-market trade on the news.

A combination of Nvidia’s strong quarter, and better than expected results from software giant Snowflake (SNOW), had several AI-related stocks in pre-market trading. Microsoft (MSFT), (AI), Palantir (PLTR), Marvell Technology (MRVL), and MongoDB (MDB) were all higher in pre-market trading.

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