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US futures sit higher so far on the day

January 30, 2025 at 05:45AM
Tech shares are the ones looking to bounce back again with S&P 500 futures up 0.3% and Nasdaq futures up 0.5% currently. It’s still early in the day of course and Wall Street tends to have its own take on things later on. It’s been a testing week for Nvidia especially after the Monday slide. The chip giant saw a bounce on Tuesday but fell by 4% again yesterday. It will remain a focus point for equities in the day ahead.

After the close yesterday, we did get earnings from Meta, Microsoft, and Tesla here. They were less than impressive with Microsoft bearing brunt of the declines in after hours trading as AI spending disappointed. But the broader market mood is switching up as seen above now.

A U-turn in the market on Fed sentiment after the initial statement has also definitely helped with that. Not to mention Trump also stating that he will do what it takes to bring inflation down here.

It’s still early in the day and later, we will also have earnings releases from Apple, Visa, and MasterCard to watch out for.

But at this point, all eyes will be on Nvidia – related headlines as well – and tech shares to carry the risk mood until the weekend.

Besides that, don’t forget that we’ve also entered the month-end tunnel now. But given the many other factors in play this week, month-end flows might not be the most significant factor in play. I’d still wager the whole Nvidia/DeepSeek issue to dictate the storyboard for the time being.

This article was written by Justin Low at www.forexlive.com.

US futures sit higher so far on the day