US Stock Futures Hold Steady as Focus Shifts From Nvidia to Fed's Jackson Hole Speech

U.S. stock index futures were little changed in evening trading on Thursday after a strong session on Wall Street, which was driven by a blowout earnings report from chipmaker Nvidia. Investors are now turning their attention to a highly anticipated speech by Federal Reserve Chair Kevin Warsh at the Jackson Hole economic symposium.

By 8:47 PM ET (00:47 GMT), S&P 500 Futures were down 0.1%, Nasdaq 100 Futures had slipped 0.2%, and Dow Jones Futures were trading largely unchanged, according to Investing.com.

Nvidia Sparks Broad Market Rally

The muted overnight activity followed a robust regular trading session where technology stocks led the market higher. The rally was ignited by Nvidia (NASDAQ:NVDA), whose shares surged 8.7% after the company delivered a bullish revenue outlook that surpassed expectations.

Nvidia's strong forecast reinforced investor confidence in the sustained demand for artificial intelligence infrastructure, easing recent concerns about a potential slowdown in AI-related spending. The positive sentiment lifted the broader tech sector, with the NASDAQ Composite jumping 1.6%. The S&P 500 gained 0.7%, and the Dow Jones Industrial Average advanced 0.2%.

All Eyes on the Federal Reserve

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With the boost from corporate earnings digested, the market's focus now shifts to monetary policy. Fed Chair Kevin Warsh is scheduled to deliver the keynote address at the Kansas City Fed's annual symposium in Wyoming on Friday. Market participants will be scrutinizing his remarks for any clues regarding the central bank's outlook on inflation and the future path of interest rates.

Investor caution comes amid a backdrop of persistent price pressures and elevated Treasury yields. Recent economic data showing hotter-than-expected inflation had previously weighed on markets, renewing concerns about the Federal Reserve's capacity to ease monetary policy.

After-Hours Movers

In extended trading, several companies reported earnings that prompted significant share price moves:

• Gap (NYSE:GAP): Shares jumped over 13% after the apparel retailer posted better-than-expected adjusted second-quarter earnings.
• Marvell Technology (NASDAQ:MRVL): The chipmaker's stock fell about 7% despite a robust outlook, as its forecast for non-GAAP gross margin came in below consensus estimates.