Abdelrahman
Market Update: Stock Futures Experience an Upswing Following S&P 500’s Losing Streak
On March 5, 2024, traders actively engaged on the floor of the New York Stock Exchange. Brendan McDermid of Reuters captured the scene.
In the evening session on Tuesday, stock futures experienced a positive shift as the S&P 500 ended its fourth consecutive day in the red. Investors are keenly looking forward to Nvidia’s earnings report, a key player in the market.
Futures linked to the Dow Jones Industrial Average rose by 85 points, reflecting an increase of approximately 0.2%. Meanwhile, Nasdaq-100 futures gained 0.4%, and S&P 500 futures climbed by 0.3%.
Following a poor trading day, the S&P 500 saw a decline of 0.5%, and the Nasdaq Composite dropped nearly 1.4%, marking their fourth day of losses. In contrast, the Dow stood out with a modest gain of about 0.4%.
The market’s downturn has been influenced by disappointing consumer confidence data released by the Conference Board. Recent reports highlighting weak retail sales and low consumer sentiment have fueled concerns regarding the economy, leading to declines in major stock indexes.
Looking ahead, Nvidia’s fourth-quarter earnings announcement, scheduled for after the market closes on Wednesday, is anticipated to be a significant catalyst for stock movement. This announcement comes at a critical juncture for Nvidia, following the emergence of DeepSeek, which has raised questions about the longevity of the once-booming AI sector. The chip manufacturer, alongside other hot stocks, has faced challenges, with its shares dropping over 5% in 2025.
As Aswath Damodaran, a finance professor at NYU Stern School of Business, stated on CNBC’s "Closing Bell," “My expectation is that the upcoming earnings report will reflect a scenario similar to September, where they could outperform analyst estimates, yet the market might still feel let down due to inflated expectations.”
In addition to Nvidia, other notable earnings reports expected on Wednesday include Lowe’s, TJX, and Salesforce.
On the economic front, upcoming data releases on Wednesday will cover new home sales and building permits. Investors are particularly focused on Friday’s personal consumption expenditures (PCE) price index release, which is considered the Federal Reserve’s preferred measure of inflation.
