Nvidia shares are down around 1.7% in pre-market now but that’s better than the 3% drop in after hours trading yesterday following the earnings release. The numbers were a beat at the margin but weaker-than-expected sales from its data center business and uncertainty surrounding its business with China looks to be weighing a little.
All in all, it doesn’t seem to be hurting sentiment too bad at last for now. That especially after the dips at the start of the month after the non-farm payrolls and then another early last week.
The indicative drop does threaten the monthly gain for Nvidia shares though, so that might be something to watch out for. And that might threaten the five-month streak for the stock, with sizable gains especially in the last three months before August.
As Nvidia shares are still looking tepid ahead of the open, US futures are also reflecting some tentative caution. S&P 500 futures are flat and so are Nasdaq futures. Meanwhile, Dow futures are marginally higher by 0.2% for the time being.
