Nasdaq Futures Buoyed by Nvidia Earnings, Software as Oil Turns Positive — Update

By Joe Stonor

U.S. technology futures jumped in European afternoon trade after Nvidia's bumper earnings forecast renewed optimism around artificial-intelligence stocks, while software earnings quieted investor pessimism on the sector.

The world's most valuable company raised its revenue outlook, signaling greater optimism on the durability of AI demand and lifting sentiment in AI-linked stocks across the globe. U.S. Treasury yields rose as investors wait for Federal Reserve Chair Kevin Warsh's hotly anticipated appearance at the Jackson Hole symposium Friday.

Oil prices swung into the green over the course of European trade. After falling at the open, contracts rose as investors weighed apparent progress in talks between Oman and Iran against near-term supply shortages. Brent crude for October delivery rose 0.8% to $88.57 a barrel, while WTI contracts edged 0.3% higher to $82.52 a barrel.

Nasdaq futures rose 0.9%, while the S&P 500 futures rose 0.4%. Futures for the Dow Jones Industrial Average were flat. Companies making the picks and shovels of the AI rush benefited most from Nvidia's earnings, with chip maker Micron Technology jumping 4% premarket while Nvidia leapt 6.1%.

Software stocks also surged premarket--led by an 11% gain for Salesforce--after a sweep of bullish earnings presentations lifted the sector and eased fears around competition from AI.

In Asia, South Korea's Kospi rose 1.5% on gains for memory chip makers. Samsung Electronics rose 1.7%, while SK Hynix added 2.5%. European AI-related stocks also jumped, with ASML gaining 1.2%. Stocks on the continent slipped more broadly, as weakness in oil majors and luxury stocks dragged.

Treasury investors' focus is on Warsh's Friday appearance at Jackson Hole. Wednesday's PCE data showed inflation stubbornly above the Fed's 2% target, adding to pressure on Warsh to signal openness to raising rates, Danske Bank analyst Jesper Fjarstedt wrote in a note to clients.

Yields on 10-year Treasurys traded up 0.6 basis points at 4.669%, while 30-year yields rose 1 basis point to 5.183%. In the eurozone, German Bund yields rose 0.7 basis points to 3.229% as higher natural gas prices drive inflation concerns.

In currency markets, the U.S. dollar was steady. The Japanese yen was little moved after the Bank of Japan's deputy governor, Ryozo Himino, vowed to remain alert to inflation risks. Markets are increasingly confident the bank will hike rates in September.

Gold remained elevated at $4,647.60 a troy ounce, while Bitcoin continued to find resistance at the $80,000 mark, rising 0.6% to $79,490.96.

Write to Joe Stonor at josephmichael.stonor@wsj.com

(END) Dow Jones Newswires

August 27, 2026 08:47 ET (12:47 GMT)