Dow Jones Futures Rise On China Stimulus: Nvidia Leads Earnings Movers; Tesla Rallies After Stock Split | Investor’s Business Daily – Investor’s Business Daily

Dow Jones futures rose Thursday morning, along with S&P 500 futures and Nasdaq futures, with new China stimulus providing a boost ahead of Friday’s speech from Federal Reserve Chairman Jerome Powell. Nvidia (NVDA), Salesforce.com (CRM), Snowflake (SNOW) and Dollar General (DG) headlined overnight earnings, while Tesla stock rose after a 3-for-1 split.




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The stock market rally rose slightly Wednesday, though the major indexes again hit resistance at their 21-day moving averages. Investors don’t want to commit heavily before Friday’s speech from Fed chief Jerome Powell. The Jackson Hole monetary policy symposium starts today.

Meanwhile, Apple (AAPL), the top investment holding of Warren Buffett’s Berkshire Hathaway (BRKB), edged higher Wednesday. AAPL stock now has a valid handle on a daily chart.

Tesla (TSLA) rose modestly early Thursday, testing key levels after hitting resistance on Wednesday. A 3-for-1 TSLA stock split took place overnight.

Key Earnings

Nvidia earnings offer a view into semiconductors, notably the data center and gaming sectors. Salesforce earnings signals demand for business software. So does analytics firm Snowflake, while the SNOW stock reaction gives an indication of investor demand for highly valued former tech leaders.

Nvidia earnings were roughly in line with lowered guidance as gaming revenue fell one-third but data center revenue jumped 61%. The chip giant guided lower on Q3 revenue. NVDA stock fell 3% in premarket trade. Nvidia stock edged up 0.2% Wednesday to 172.22.

Salesforce earnings topped views, but the software giant guided low for the current quarter. Despite a new $10 billion buyback program, CRM stock declined 8% in extended action. Salesforce.com stock climbed 2.3% to 180.01 on Wednesday.

Snowflake reported a wider-than-expected Q2 loss, but the 83% revenue gain beat. SNOW stock soared 19% early Thursday. Snowflake stock popped 4.2% to 160.28 on Wednesday, bouncing off the 50-day line after pulling back over the past few weeks.

Meanwhile, Splunk (SPLK), Box (BOX) and Autodesk (ADSK) added to a busy software lineup after the close, with storage giant NetApp (NTAP) and housewares and furnishings retailer Williams-Sonoma</…….

Source: https://www.investors.com/market-trend/stock-market-today/dow-jones-futures-nvidia-leads-earnings-tesla-rises-after-stock-split/