Nvidia Earnings Spark US Stock Futures Rebound
US stock futures rebounded on August 27, bucking overnight declines in major indices. The Dow Jones futures surged by 188 points or 0.33% to trade at 53,699, while Nasdaq 100 futures climbed by 249.75 points or 0.9% to trade at 29,537.50.
The rebound was attributed to Nvidia's bullish earnings report, which signaled strong demand for AI-driven infrastructure through 2028. The company's shares surged more than 4% in after-hours trading, while Salesforce and Okta also reported better-than-expected results.
The Fed's preferred inflation gauge, the Personal Consumption Expenditures (PCE) Price Index, came in slightly above expectations, complicating the outlook for monetary policy. Geopolitical risks continue to linger, with sporadic rocket and drone activity in the Strait of Hormuz.