"Wall Street bounced back from this week's earlier losses on Wednesday ahead of the latest earnings report from Nvidia, considered a bellwether for the artificial intelligence sector. S&P 500 futures gained 0.3 per cent before the bell, Dow Jones Industrial futures ticked up 0.1 per cent and Nasdaq futures rose 0.4 per cent. Nvidia reports its earnings for the last quarter after the closing bell."
"Target slid 1.9 per cent after its third-quarter profit tumbled and the retailer said that it expects its sales slump to extend through the critical holiday shopping season. The Minneapolis company has struggled to lure inflation-weary shoppers and investors have punished it, sending its shares down 43 per cent over the past year. Lowe's jumped more than five per cent after the home improvement chain beat Wall Street profit targets and raised some of its full-year guidance."
U.S. futures rose ahead of Nvidia's quarterly report, with S&P 500 futures up 0.3%, Dow futures up 0.1% and Nasdaq futures up 0.4%. Nvidia's fervent AI chip demand briefly pushed its market value above $5 trillion, and its shares rose about 2% premarket. Target's third-quarter profit tumbled, prompting a 1.9% drop and an expectation that sales weakness will continue through the holiday season; Target shares have fallen 43% over the past year. Lowe's jumped over 5% after beating profit targets and raising some guidance. Constellation Energy gained after a $1 billion DOE loan to restart Three Mile Island to supply power to Microsoft data centers. European indices were mixed while most Asian markets slipped.
Read at www.cbc.ca
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