Stock index futures pointed to a higher open Thursday thanks in most part to some solid earnings from chip bellwether Nvidia.
Nasdaq 100 futures (NDX:IND) rose +0.8%, S&P futures (SPX) gained +0.4% and Dow futures (INDU) edged up +0.2%.
Nvidia (NVDA) rose after it topped expectations and also uttered the magic letters “AI.”
The 10-year Treasury yield (US10Y) was up 3 basis points to 3.95%. The 2-year yield (US2Y) was up 1 basis point to 4.71%
“We get revised 4Q GDP from the US, with the consensus looking for unchanged data,” UBS’ Paul Donovan said. “While the numbers are likely to be unexciting, the increased unreliability of data does throw up more frequent revisions. Nonetheless, it is the weekly jobless claims that are likely to fuel media excitement.”
Economists expect the second measure of Q4 GDP to dip to an annual rate to of 2.9% from 3.2%.
Jobless claims, a big concern for the Fed, are seen ticking up to 200K.