Nvidia Earnings Send US Stock Futures Soaring: Will S&P 500 Open Higher Today?
US stock futures are pointing to a higher opening on Thursday as investors digest Nvidia's highly anticipated earnings, strong durable goods data, and renewed diplomatic efforts in the Middle East.
The Polymarket crowd is leaning heavily bullish for the Aug. 27 trading session, with a 71% chance of a higher open reflected in the 'S&P 500 (SPX) Up or Down on August 27?' contract.
Nvidia's earnings are being seen as the final act to this earnings season, with market commentator Louis Navellier highlighting massive order backlogs for companies like GE Vernova Inc. and emphasizing the demand for computing power to support developers like ChatGPT and Claude.
Navellier dismissed concerns about political shifts impacting the market, stating that 'the vast majority of federal spending for the next two years has already been front loaded.'