Nvidia outlook lifts AI semis; U.S. jobless claims due 8:30 ET
Nvidia forecast roughly 70% revenue growth next fiscal year, with NVDA up about 7% premarket. Nasdaq 100 futures rose about 1% and S&P futures about 0.4%. Initial Jobless Claims are expected at 208K versus 206K prior.
For today, Nvidia is the major story.
The company delivered a blockbuster outlook, forecasting roughly 70% revenue growth next fiscal year, sending NVDA up about 7% premarket and lifting the broader AI/semiconductor complex; Nasdaq 100 futures were up roughly 1% and S&P futures about 0.4% early this morning.
Salesforce and CrowdStrike are also sharply higher following strong results/outlooks, adding to the technology bid.
The main macro event today is Initial Jobless Claims at 8:30 AM ET (208K expected versus 206K prior), followed by EIA Natural Gas inventories at 10:30 AM.
The bigger macro risk comes tomorrow with Fed Chair Kevin Warsh's Jackson Hole speech, especially after yesterday's hotter PCE reading—so today sets up as a battle between renewed AI enthusiasm and higher-rate/inflation concerns