Traders work on the floor of the New York Stock Exchange on May 28, 2025.
NYSE
S&P 500 futures rose Wednesday night, buoyed by a strong earnings report from artificial intelligence heavyweight Nvidia.
Futures tied to the broad market index rose 0.3%, while Nasdaq 100 futures gained 0.5%. Dow Jones Industrial Average futures slipped 15 points.
Nvidia shares jumped more than 4% in after-hours trading. The chipmaker reported exceeded expectations on the top and bottom lines in the first quarter, as its data center business recorded year-over-year growth of 73%.
“Wednesday’s Nvidia earnings report is pivotal not just for Nvidia but for the entire stock market, as it can rejuvenate investor optimism across the board and help investors to focus on the power of AI and less on headlines out of Washington on tariffs and taxes,” said James Demmert, chief investment officer of Main Street Research.
Separately, Salesforce shares rose about 1% after the software company posted better-than-expected fiscal first-quarter results and lifted its full-year forecast.
Stocks are coming off of a lackluster session Wednesday. The S&P 500 ended the day almost 0.6% lower, while the tech-heavy Nasdaq Composite lost 0.5%. The Dow Jones Industrial Average fell nearly 245 points, or 0.6%.
Major U.S. indexes are on track to close the week—and month—higher, however. The S&P 500 and 30-stock Dow are up 1.5% and 1.2% this week, respectively, while the Nasdaq has rallied nearly 2%. The tech sector has surged more than 10% in May, fueled by AI announcements from Big Tech player Alphabet.
This month, the S&P 500 has gained 5.7%. The Dow has added 3.5%, while the Nasdaq has jumped 9.5%.
The surge in stocks comes after President Donald Trump on Sunday walked back his threat to implement a 50% tariff on the European Union on June 1, delaying the date to July 9. Although investors cheered the news, critiques of Trump’s tariffs have emerged given their wild effect on markets.