In Tuesday’s evening trading session, U.S. stock futures witnessed a downturn, extending the negative trend of major benchmarks as investors scrutinized Nvidia’s recent earnings report.
As of 6:30 pm ET (11:30 pm GMT), Dow Jones Futures slipped 0.1%, S&P 500 Futures experienced a 0.2% decline, and Nasdaq 100 Futures recorded a 0.3% loss.
In after-hours trading, NVIDIA Corporation (NASDAQ: NVDA) saw a 1.5% decrease after reporting Q3 earnings per share of $4.02, surpassing the expected $3.36, with revenues amounting to $18.12 billion, beating the projected $16.18 billion. However, the company cautioned that export restrictions on China might impact its fiscal fourth-quarter results.
Autodesk Inc (NASDAQ: ADSK) witnessed a 3.7% dip following its Q3 earnings report, revealing earnings per share of $2.07 compared to the anticipated $1.99, and revenues of $1.41 billion, exceeding the expected $1.39 billion.
HP Inc (NYSE: HPQ) experienced a 3.1% loss despite reporting earnings per share of $0.9 in line with expectations. Revenues came in at $13.8 billion, slightly below the expected $13.82 billion.
Guess? Inc (NYSE: GES) faced a significant drop of 14.7%, reporting earnings per share of $0.49 versus the expected $0.62, and revenues of $651.2 million, missing the expected $655.98 million.
Looking ahead to Wednesday’s trading, investors will closely monitor core durable goods orders, jobless claims, and Michigan’s consumer sentiment and expectations indexes.
In the regular Tuesday session, the Dow Jones Industrial Average fell 0.2%, the S&P 500 lost 0.2%, and the NASDAQ Composite dropped 0.6%. This followed the Federal Reserve’s signal that monetary policy will remain restrictive, with no indication of imminent interest rate cuts.
On the bond markets, United States 10-Year rates were at 4.398%.
