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Investing.com-- U.S. stock index futures moved little in evening deals on Wednesday as markets digested a mixed showing from artificial intelligence major Nvidia, which clocked strong earnings but presented an outlook that just scraped past estimates.
Futures moved little after a muted session on Wall Street, as anticipation of NVIDIA Corporation's (NASDAQ:NVDA) earnings deterred any big bets. Sentiment also remained strained amid increased tensions over Russia and Ukraine, and as earnings from retail giant Target Corporation (NYSE:TGT) fell well short of expectations.
S&P 500 Futures steadied at 5,939.0 points, while Nasdaq 100 Futures were flat at 20,751.25 points by 18:35 ET (23:35 GMT). Dow Jones Futures steadied at 43,551.0 points.
Nvidia falls as guidance beat underwhelms
Nvidia shares fell more than 1% in aftermarket trade to around $144.0, trimming some losses after falling as much as 2% just after its earnings.
Earnings per share rose to $0.81 on revenue of $35.1 billion, higher than expectations of $0.75 in EPS and $33.09 billion in revenue.
But Nvidia forecast fourth quarter revenue of $37.5 billion, plus or minus 2%. The guidance was just above estimates of $37.09 billion, underwhelming some traders hoping for a much bigger beat, especially given the stellar run-up in Nvidia’s valuation this year.
The forecast also indicated a slower pace of revenue growth than seen in prior quarters.
Nvidia, which recently overtook Apple Inc (NASDAQ:AAPL) to become the world’s most valuable listed company, flagged supply constraints, especially in its upcoming Blackwell line of next-generation AI chips. But the firm said demand for its advanced AI chips remained robust.