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Nasdaq 100 futures fall after chip giant Nvidia delivers light guidance

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Trader at New York Stock Exchange NYSE (New York), the United States. May 18, 2022.

Michael Nagle | Xinhua News Agency | Getty Images

On Wednesday night, stock futures were mixed as investors digested Nvidia’s disappointing update. This is an economic indicator in the tech industry.

The Dow Jones Industrial Average indexed stock futures rose 21 points or 0.1%, or just 0.1%. Those for the S&P 500 slipped les than 0.1%, while Nasdaq 100 futures shed 0.3%%.

Futures futures are now moving after disappointing quarterly reports by the sector. After Nvidia’s quarterly disappointing reports, shares of the chipmaker fell more than 6 percent in extended trading. weaker-than-expected guidance for the second quarter. Nvidia’s Chief Financial Officer stated that the company would reduce its hiring.

Similar to software stock Snowflake tumbled nearly 14%After the operating margin guidance of the company came back lower than anticipated.

Although first quarter earnings have been in line with historical trends for the entire market, some stocks have seen dramatic declines after earnings reports. Investors are trying to determine the effects of inflation or slowing economic growth.

“If there is any reason for selling, they are embracing it,” said Jeremy Gonsalves of BNY Mellon Wealth Management, the national director of portfolio administration.

Stocks rose during Wednesday’s regular market hoursThe Nasdaq saw 1.5% growth to be the leader. The S&P 500 added 0.9%, while the Dow gained 0.6%.

The week’s positive results for all three indexes put them in a good position to end long losing streaks. The Dow fell for eight consecutive weeks, while the S&P 500 and the Nasdaq have each slipped for seven straight weeks.

Retail with Williams-Sonoma was a positive for investors on the earnings front. It saw an 8% increase in trading extended after surpassing estimates. Macy’s Dollar Tree, Dollar General and Dollar Tree all report before Thursday’s bell.

Investors also will receive an updated view of weekly jobless claims as well as a second look at first-quarter GDP on Thursday. Later in the morning, data on pending home sales is expected.

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