Stock futures experienced an uptick on Thursday, fueled by the recent performance of Nvidia, whose shares saw a notable increase after reporting stronger-than-anticipated quarterly earnings.

Futures associated with the S&P 500 rose by 0.7%, while Nasdaq 100 futures climbed 0.8%. Additionally, Dow Jones Industrial Average futures increased by 150 points, or 0.3%.

Nvidia’s stock jumped 1.8% after the chip industry leader surpassed fourth-quarter expectations for both revenue and profits. The company provided optimistic guidance, reflecting persistent demand driven by the surge in artificial intelligence advancements.

“Though revenue growth has shown signs of slowing down, Nvidia’s year-over-year increase of 78% remains commendable given its size, demonstrating robust demand for AI infrastructure,” remarked Ido Caspi, an analyst at Global X. “This strong showing should also reassure investors concerning possible slowdowns due to emerging rivals like DeepSeek.”

On the previous day, markets pulled back from their highs as concerns arose regarding President Donald Trump’s trade policies. During his initial cabinet meeting, he announced that tariffs against Canada and Mexico would be implemented, and clarified that his trade strategy would encompass a 25% tariff on imports from the European Union.

The S&P 500 only managed a modest gain of 0.01% on Wednesday, concluding a streak of four consecutive losses. Conversely, the 30-stock Dow declined by 188 points, roughly 0.4%, while the tech-heavy Nasdaq Composite saw an increase of nearly 0.3%.

“Exercise caution. The exceptional performance of the stock market in the recent months implies that any downturn should be navigated with care,” stated Fawad Razaqzada, a market analyst with Forex.

Razaqzada further noted, “For bullish investors, a slight corrective phase wouldn’t be detrimental, as it could offer more favorable entry points in the near future.”

Recent economic data, including weaker than anticipated consumer confidence figures, underwhelming retail sales, and a disappointing consumer sentiment index have unsettled markets, prompting fears about the overall health of the U.S. economy.

Market participants are closely monitoring Thursday’s weekly jobless claims, with an eye on Friday’s personal consumption expenditures (PCE) index, which is the preferred measure of inflation by the Federal Reserve.

With just two trading days remaining in February, all three major indices are on track to record declines. The broad market index has fallen 1.4%, while the Dow and Nasdaq have both decreased by over 2% each.