watch
now
U.S.
stock
futures
were
little
changed
on
Tuesday
night
as
investors
looked
ahead
to
the
widely-anticipated
release
of
Nvidia‘s
latest
earnings
report.
Dow
Jones
Industrial
Average
futures
inched
higher
by
10
points
Futures
tied
to
the
S&P
500
and
Nasdaq
100
hovered
near
the
flatline.
In
extended
trading,
Urban
Outfitters
gained
5%
after
the
clothing
retailer
posted
beats
on
the
top
and
bottom
line
in
its
latest
quarter.
Homebuilder
Toll
Brothers
inched
higher
by
1%
after
surpassing
analysts’
estimates
and
raising
its
full-year
delivery
guidance.
The
moves
followed
the
S&P
500
and
Nasdaq
Composite‘s
new
record-setting
closes
on
Tuesday
afternoon.
The
broader
market
index
added
0.25%,
while
the
tech-heavy
Nasdaq
gained
0.22%.
The
Dow
Jones
Industrial
Average
added
0.17%.
Nvidia
was
at
the
forefront
of
investors’
minds,
as
they
looked
ahead
to
the
semiconductor
giant’s
quarterly
report
on
Wednesday
afternoon.
The
stock
has
rallied
nearly
93%
so
far
in
2024
and
added
0.6%
during
Tuesday’s
trading
session.
The
market
rally
has
the
potential
to
broaden
beyond
tech,
but
it
will
be
important
that
the
earnings
season
wrap
up
on
a
strong
note,
according
to
Charles
Schwab’s
chief
investment
strategist
Liz
Ann
Sonders.
“We
do
need
earnings
to
continue
to
come
in
well,
because
last
year
was
all
about
multiple
expansion
without
any
benefit
from
earnings,”
she
said
on
CNBC’s
“Closing
Bell”
Tuesday
afternoon.
“I
think
earnings
do
need
to
continue
to
catch
up
to
where
multiples
are.”
Besides
Nvidia,
companies
such
as
Target,
Analog
Devices,
TJX
and
Raymond
James
Financial
are
also
slated
to
post
their
latest
results
on
Wednesday.
Traders
will
also
watch
out
for
minutes
from
the
latest
Federal
Open
Market
Committee
meeting,
as
well
as
April’s
existing
home
sales.
