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Stock Futures Jump Ahead of Delayed Jobs Report as Nvidia Soars and Palo Alto Stumbles

MarketDash Editorial Team
18 days ago
U.S. stock futures climbed Thursday morning, with the Nasdaq leading gains as investors digested Fed minutes showing divisions on rate cuts and awaited September's delayed jobs data. Nvidia surged over 5% on strong earnings while Palo Alto Networks dropped despite beating estimates.

U.S. stock futures pushed higher Thursday morning, extending Wednesday's gains as investors prepared for a busy day of economic data and corporate earnings. The delayed September jobs report finally hits the tape today, following last week's conclusion of what became a record-long government shutdown.

Futures across major benchmark indices showed solid gains in early trading. The Nasdaq 100 led the pack with a 1.47% jump, while the S&P 500 climbed 1.08% and the Dow Jones Industrial Average rose 0.44%. The small-cap Russell 2000 gained 0.61%.

The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust ETF (QQQ), which track the S&P 500 and Nasdaq 100 respectively, both advanced in premarket action. The SPY climbed 1.01% to $669.35, while the QQQ gained 1.37% to $608.07, according to market data.

Fed Officials Split on Rate Path Forward

Wednesday brought the release of FOMC minutes that painted a picture of a Federal Reserve not exactly unified in its thinking. Officials appear sharply divided on where interest rates should go from here, with a clear split emerging among participants following their decision to lower the federal funds target range to 3.75%-4.00%.

Treasury markets reflected this uncertainty. The 10-year bond yielded 4.13% while the two-year note sat at 3.60%. If you're wondering what the market thinks happens next, the CME Group's FedWatch tool shows traders pricing in just a 33.8% likelihood of another rate cut at the December meeting. That's hardly a ringing endorsement of more easing.

Nvidia Powers Higher on Strong Results

Nvidia Corp. (NVDA) surged 5.55% in premarket trading after delivering third-quarter results that beat expectations and issuing a revenue forecast for the current quarter that has investors feeling optimistic about the AI chip giant's momentum.

According to market data, NVDA maintains a stronger price trend over the long and medium terms but shows weakness in the short term, paired with a solid quality ranking.

Palo Alto Networks Disappoints Despite Beat

Sometimes beating estimates just isn't enough. Palo Alto Networks Inc. (PANW) dropped 4.15% despite topping analyst expectations, as the cybersecurity company's full-year guidance came in merely in line with what Wall Street wanted to see.

For the second quarter, Palo Alto forecasted revenue between $2.57 billion and $2.59 billion, with adjusted EPS projected at $0.93 to $0.95. The Wall Street consensus calls for $2.58 billion in revenue and earnings of $0.93 per share. When your guidance lands right on the number rather than above it, investors tend to show their disappointment.

Market data shows PANW maintained a weaker price trend over the short and medium terms, but a strong trend in the long term, with a strong value ranking.

Super Micro Computer Bounces on Nvidia Partnership

Super Micro Computer Inc. (SMCI) gained 5.87% after announcing the launch of integrated AI factory systems featuring Nvidia's Blackwell technology. The partnership news gave a boost to a stock that's been struggling lately.

SMCI maintains a weaker price trend over the short, medium, and long terms, with a moderate value ranking, according to market analysis.

Walmart Earnings on Deck

Walmart Inc. (WMT) climbed 0.83% ahead of its earnings release expected before the opening bell. Wall Street is looking for earnings of 60 cents per share on revenue of $177.43 billion from the retail giant.

The stock maintained a weaker price trend over the short term but showed strength in the medium and long terms, with a strong quality ranking heading into the report.

Intuit Set to Report After Close

Intuit Inc. (INTU) traded 0.37% higher as analysts expect the financial software company to report earnings of $3.09 per share on revenue of $3.76 billion after the closing bell.

INTU maintained a weaker price trend across all timeframes but carries a solid quality ranking, according to market data.

Wednesday's Market Action

Information technology, communication services, and materials stocks powered Wednesday's gains, while energy and utilities bucked the trend to close lower. The Nasdaq Composite advanced 0.59% to 22,564.23, while the S&P 500 gained 0.38% to 6,642.16. The Dow Jones Industrial Average barely budged, adding 0.10% to reach 46,138.77. The Russell 2000 slipped 0.036% to 2,347.89.

BlackRock's Take on the Market

BlackRock maintains what it calls a "pro-risk stance" focused on U.S. equities and the artificial intelligence theme, underpinned by the belief that a cooling labor market will give the Federal Reserve room to cut interest rates without the economy falling into recession.

The investment giant characterizes the current economic backdrop as a "no hiring, no firing" stasis, suggesting the labor market is softening enough to support rate cuts without deteriorating into something uglier.

Despite recent volatility in tech stocks driven by concerns about mounting debt levels, BlackRock views the capital-intensive phase of the AI buildout as a "necessary step" rather than a warning sign that something's wrong. Strong third-quarter earnings from dominant AI companies reinforce this conviction.

Following the end of the government shutdown, BlackRock says it's prioritizing analysis of backlogged economic data to confirm its thesis that the economic environment remains supportive of risk assets. That's a lot of data to catch up on.

Economic Calendar Thursday

Investors have plenty to watch throughout the trading day. September's U.S. employment report, unemployment rate, hourly wages, and initial jobless claims for the latest week arrive at 8:30 a.m. ET. That's the big one everyone's been waiting for since the shutdown delayed the normal release schedule.

October's existing home sales and U.S. leading economic indicators are scheduled for 10:00 a.m. Then comes a parade of Federal Reserve speakers: Governor Lisa Cook speaks at 11:00 a.m., Fed President Austan Goolsbee at 1:40 p.m., and Philadelphia Fed President Anna Paulson at 6:45 p.m. ET. That's a lot of opportunities for Fed officials to either clarify or further muddy the waters on rate policy.

Commodities and Crypto

Crude oil futures traded higher in the early New York session, gaining 0.78% to hover around $59.70 per barrel. Gold Spot fell 0.37% to trade around $4,062.86 per ounce, well off its last record high of $4,381.60 per ounce. The U.S. Dollar Index spot was essentially flat, down 0.04% at the 100.1840 level.

Bitcoin (BTC) traded 0.31% higher at $91,662.15 per coin, continuing its recent consolidation after the big rally earlier this year.

Global Markets

Asian markets closed mostly higher Thursday, with China's CSI 300 index the notable exception. India's NIFTY 50, Hong Kong's Hang Seng, Japan's Nikkei 225, Australia's ASX 200, and South Korea's Kospi indices all rose. European markets were mostly higher in early trade, following the positive momentum from Asia and U.S. futures.

Back to News

Stock Futures Jump Ahead of Delayed Jobs Report as Nvidia Soars and Palo Alto Stumbles

MarketDash Editorial Team
18 days ago
U.S. stock futures climbed Thursday morning, with the Nasdaq leading gains as investors digested Fed minutes showing divisions on rate cuts and awaited September's delayed jobs data. Nvidia surged over 5% on strong earnings while Palo Alto Networks dropped despite beating estimates.

U.S. stock futures pushed higher Thursday morning, extending Wednesday's gains as investors prepared for a busy day of economic data and corporate earnings. The delayed September jobs report finally hits the tape today, following last week's conclusion of what became a record-long government shutdown.

Futures across major benchmark indices showed solid gains in early trading. The Nasdaq 100 led the pack with a 1.47% jump, while the S&P 500 climbed 1.08% and the Dow Jones Industrial Average rose 0.44%. The small-cap Russell 2000 gained 0.61%.

The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust ETF (QQQ), which track the S&P 500 and Nasdaq 100 respectively, both advanced in premarket action. The SPY climbed 1.01% to $669.35, while the QQQ gained 1.37% to $608.07, according to market data.

Fed Officials Split on Rate Path Forward

Wednesday brought the release of FOMC minutes that painted a picture of a Federal Reserve not exactly unified in its thinking. Officials appear sharply divided on where interest rates should go from here, with a clear split emerging among participants following their decision to lower the federal funds target range to 3.75%-4.00%.

Treasury markets reflected this uncertainty. The 10-year bond yielded 4.13% while the two-year note sat at 3.60%. If you're wondering what the market thinks happens next, the CME Group's FedWatch tool shows traders pricing in just a 33.8% likelihood of another rate cut at the December meeting. That's hardly a ringing endorsement of more easing.

Nvidia Powers Higher on Strong Results

Nvidia Corp. (NVDA) surged 5.55% in premarket trading after delivering third-quarter results that beat expectations and issuing a revenue forecast for the current quarter that has investors feeling optimistic about the AI chip giant's momentum.

According to market data, NVDA maintains a stronger price trend over the long and medium terms but shows weakness in the short term, paired with a solid quality ranking.

Palo Alto Networks Disappoints Despite Beat

Sometimes beating estimates just isn't enough. Palo Alto Networks Inc. (PANW) dropped 4.15% despite topping analyst expectations, as the cybersecurity company's full-year guidance came in merely in line with what Wall Street wanted to see.

For the second quarter, Palo Alto forecasted revenue between $2.57 billion and $2.59 billion, with adjusted EPS projected at $0.93 to $0.95. The Wall Street consensus calls for $2.58 billion in revenue and earnings of $0.93 per share. When your guidance lands right on the number rather than above it, investors tend to show their disappointment.

Market data shows PANW maintained a weaker price trend over the short and medium terms, but a strong trend in the long term, with a strong value ranking.

Super Micro Computer Bounces on Nvidia Partnership

Super Micro Computer Inc. (SMCI) gained 5.87% after announcing the launch of integrated AI factory systems featuring Nvidia's Blackwell technology. The partnership news gave a boost to a stock that's been struggling lately.

SMCI maintains a weaker price trend over the short, medium, and long terms, with a moderate value ranking, according to market analysis.

Walmart Earnings on Deck

Walmart Inc. (WMT) climbed 0.83% ahead of its earnings release expected before the opening bell. Wall Street is looking for earnings of 60 cents per share on revenue of $177.43 billion from the retail giant.

The stock maintained a weaker price trend over the short term but showed strength in the medium and long terms, with a strong quality ranking heading into the report.

Intuit Set to Report After Close

Intuit Inc. (INTU) traded 0.37% higher as analysts expect the financial software company to report earnings of $3.09 per share on revenue of $3.76 billion after the closing bell.

INTU maintained a weaker price trend across all timeframes but carries a solid quality ranking, according to market data.

Wednesday's Market Action

Information technology, communication services, and materials stocks powered Wednesday's gains, while energy and utilities bucked the trend to close lower. The Nasdaq Composite advanced 0.59% to 22,564.23, while the S&P 500 gained 0.38% to 6,642.16. The Dow Jones Industrial Average barely budged, adding 0.10% to reach 46,138.77. The Russell 2000 slipped 0.036% to 2,347.89.

BlackRock's Take on the Market

BlackRock maintains what it calls a "pro-risk stance" focused on U.S. equities and the artificial intelligence theme, underpinned by the belief that a cooling labor market will give the Federal Reserve room to cut interest rates without the economy falling into recession.

The investment giant characterizes the current economic backdrop as a "no hiring, no firing" stasis, suggesting the labor market is softening enough to support rate cuts without deteriorating into something uglier.

Despite recent volatility in tech stocks driven by concerns about mounting debt levels, BlackRock views the capital-intensive phase of the AI buildout as a "necessary step" rather than a warning sign that something's wrong. Strong third-quarter earnings from dominant AI companies reinforce this conviction.

Following the end of the government shutdown, BlackRock says it's prioritizing analysis of backlogged economic data to confirm its thesis that the economic environment remains supportive of risk assets. That's a lot of data to catch up on.

Economic Calendar Thursday

Investors have plenty to watch throughout the trading day. September's U.S. employment report, unemployment rate, hourly wages, and initial jobless claims for the latest week arrive at 8:30 a.m. ET. That's the big one everyone's been waiting for since the shutdown delayed the normal release schedule.

October's existing home sales and U.S. leading economic indicators are scheduled for 10:00 a.m. Then comes a parade of Federal Reserve speakers: Governor Lisa Cook speaks at 11:00 a.m., Fed President Austan Goolsbee at 1:40 p.m., and Philadelphia Fed President Anna Paulson at 6:45 p.m. ET. That's a lot of opportunities for Fed officials to either clarify or further muddy the waters on rate policy.

Commodities and Crypto

Crude oil futures traded higher in the early New York session, gaining 0.78% to hover around $59.70 per barrel. Gold Spot fell 0.37% to trade around $4,062.86 per ounce, well off its last record high of $4,381.60 per ounce. The U.S. Dollar Index spot was essentially flat, down 0.04% at the 100.1840 level.

Bitcoin (BTC) traded 0.31% higher at $91,662.15 per coin, continuing its recent consolidation after the big rally earlier this year.

Global Markets

Asian markets closed mostly higher Thursday, with China's CSI 300 index the notable exception. India's NIFTY 50, Hong Kong's Hang Seng, Japan's Nikkei 225, Australia's ASX 200, and South Korea's Kospi indices all rose. European markets were mostly higher in early trade, following the positive momentum from Asia and U.S. futures.

    Stock Futures Jump Ahead of Delayed Jobs Report as Nvidia Soars and Palo Alto Stumbles - MarketDash News