S&P 500 Index: Retail Stocks Jump on Earnings Surprise, Nvidia Forecast in Focus

Retail and Tech Earnings Power Premarket Moves as Nvidia Takes Center Stage

Stock futures were little changed Wednesday morning as traders positioned ahead of Nvidia’s widely anticipated earnings report. Nasdaq futures rose 0.22%, supported by strength in tech, while the S&P 500 edged up 0.09%. Dow futures slipped 0.03%.

Can Retail Names Like Abercrombie and Dick’s Sustain Momentum?

Retail stocks led early gains following upbeat quarterly results. Abercrombie & Fitch soared more than 26% after topping analyst expectations with $1.69 per share in earnings and $1.10 billion in revenue. The company also delivered a stronger-than-expected earnings outlook for the current quarter.

Dick’s Sporting Goods added 4% after reporting $3.37 EPS on $3.18 billion in revenue, beating estimates and reaffirming its full-year forecast.

Macy’s rose over 2% following an earnings beat, though it cut its profit guidance due to tariffs and promotional costs. Despite the lowered outlook, investor sentiment was buoyed by the solid quarterly performance.

Will Tech Stocks Hold Gains Ahead of Nvidia’s Earnings?

Tech names delivered mixed premarket action. Okta fell 10% despite exceeding expectations for the quarter. The company maintained its full-year forecast, citing cautious enterprise spending patterns. In contrast, Box surged nearly 11% after beating on earnings and revenue and lifting its guidance, driven by growth in cloud-based tools and demand for its AI-enabled features.

Nvidia gained about 1% ahead of its results due after the close. Traders are focused on any updates regarding chip sales and export policies, especially concerning China. Nvidia’s outlook is expected to play a key role in setting the tone for the broader technology sector.

Which Stocks Are Moving on Corporate News and Ratings?

Vail Resorts jumped more than 12% after Rob Katz was named CEO again, returning to the role he held from 2006 to 2021. Investors responded positively to the leadership change.

GameStop advanced 3% after revealing it had purchased nearly 5,000 bitcoin. Joby Aviation climbed over 10% following confirmation of a $250 million investment from Toyota as part of a larger funding agreement.

Noble Corp rose nearly 2% following a JPMorgan upgrade citing improving offshore drilling trends. Freshpet slid almost 2% after TD Cowen downgraded the stock, pointing to saturation in its refrigerated dog food business.

What’s the Market Outlook Heading Into Nvidia’s Print?

Futures are holding steady, but Nvidia’s earnings this afternoon remain the main event. Guidance on chip demand and export restrictions will likely dictate the next move in tech. Traders should also keep watch for the latest Federal Reserve meeting minutes for clues on policy direction. Until then, selective stock stories continue to drive premarket action, with sentiment hanging on Nvidia’s performance.

More Information in our Economic Calendar.