March S&P 500 E-Mini futures (ESH24) are down -0.06%, and March Nasdaq 100 E-Mini futures (NQH24) are down -0.17% this morning as market participants assessed the outlook for equities after the previous day’s strong rally in the wake of Nvidia’s blockbuster earnings.
In Thursday’s trading session, Wall Street’s major indexes closed higher, with the benchmark S&P 500 and blue-chip Dow notching new record highs and the tech-heavy Nasdaq 100 posting a 1-1/2 week high. NVIDIA Corporation (NVDA) soared over +16% and was the top percentage gainer on the S&P 500 and Nasdaq 100 after reporting better-than-expected Q4 results and offering above-consensus Q1 revenue guidance. Also, Moderna Inc (MRNA) climbed more than +13% after the COVID-19 vaccine maker posted upbeat Q4 results. In addition, Royal Caribbean Cruises Ltd (RCL) rose over +6% after raising its 2024 adjusted EPS forecast. On the bearish side, Etsy Inc (ETSY) plunged more than -8% and was the top percentage loser on the S&P 500 after the retailer posted mixed Q4 results and projected a low to mid-single-digit percentage decrease in Q1 gross merchandise sales. Also, Keurig Dr Pepper Inc (KDP) slid over -3% and was the top percentage loser on the Nasdaq 100 after reporting weaker-than-expected Q4 net sales and issuing soft FY24 guidance.
