U.S. stock futures traded mixed on Friday as investors digested a strong Wall Street session driven by Nvidia’s latest earnings results. Attention is now shifting toward Federal Reserve Chair Kevin Warsh’s highly anticipated speech at the Jackson Hole symposium.
S&P 500 futures slipped 0.1% to 7,734.75 points, while Nasdaq 100 futures fell 0.3% to 29,602.75 points by 02:44 ET (06:44 GMT). Dow Jones futures, meanwhile, rose 0.1% to 53,681.0 points.
Nvidia Earnings Fuel Wall Street Rally
Nvidia shares surged 8.7% during Thursday’s trading session after the chipmaker issued an optimistic revenue outlook.
The strong guidance helped support a broader technology rally and eased concerns that spending on artificial intelligence infrastructure could be slowing.
The S&P 500 gained 0.7%, while the Nasdaq Composite climbed 1.6%. The Dow Jones Industrial Average also finished 0.2% higher.
Technology and AI-related stocks led the advance. Salesforce and CrowdStrike were among the strongest performers during the session.
Nvidia’s outlook for continued rapid revenue growth reinforced investor confidence in demand for artificial intelligence infrastructure. Semiconductor stocks also benefited from the positive sentiment.
Investors Await Warsh’s Jackson Hole Speech
Market attention is now turning toward Kevin Warsh, who is scheduled to deliver his first keynote address as Federal Reserve chair at the annual Kansas City Fed symposium in Jackson Hole, Wyoming.
Investors will be watching closely for signals on inflation, monetary policy and the future path of interest rates.
Recent economic data has continued to show persistent price pressures, increasing uncertainty around how much flexibility the Federal Reserve has to adjust monetary policy.
Treasury Yields Remain in Focus
U.S. Treasury yields have also remained an important factor for financial markets.
Concerns over inflation, rising government borrowing and the future direction of Federal Reserve policy have kept longer-term Treasury yields elevated.
Earlier in the week, Wall Street had struggled to build momentum after stronger-than-expected inflation figures raised fresh doubts about the Fed’s ability to ease monetary policy.
Oil Prices Rise on Geopolitical Concerns
Crude oil prices moved higher on Thursday as geopolitical tensions returned to focus.
According to a Wall Street Journal report, U.S. President Donald Trump was not interested in returning to the terms of a memorandum of understanding previously reached with Iran in June.
The development added another layer of uncertainty to global markets and helped support oil prices.
PayPal Shares Slide in Extended Trading
PayPal shares dropped nearly 14% in after-hours trading following a Bloomberg report involving a potential takeover.
The report said a consortium involving private equity firm Advent International and payments company Stripe had abandoned its pursuit of PayPal.
The news triggered a sharp decline in the payments company’s shares.
Gap Jumps After Strong Earnings
Gap shares moved in the opposite direction, rising more than 13% after the market closed.
The apparel retailer reported stronger-than-expected adjusted second-quarter earnings.
Gap also announced that Michael Francis would become chief executive of its Old Navy brand.
Marvell Falls Despite Positive Outlook
Marvell Technology shares fell around 7% in extended trading despite the chipmaker providing an otherwise strong outlook.
Investors focused on the company’s non-GAAP gross margin forecast, which came in below market expectations.
The weaker margin guidance overshadowed the company’s positive revenue outlook and weighed on the stock.
Overall, Wall Street remains focused on a combination of artificial intelligence growth, inflation risks and Federal Reserve policy. Warsh’s Jackson Hole speech could provide an important catalyst for U.S. stocks, Treasury yields and the broader financial markets.
