The Market Brief
Hey team, MicroStrategy and Snowflake are rallying, helping futures pare losses as they recover from the early declines during the overnight session.
Let’s recap yesterday’s session and see what’s next!
Impact Snapshot
🟥 Unemployment Claims - 8:30am ET
Macro Viewpoint
U.S. equity futures recovered from earlier losses, buoyed by strong earnings from Snowflake SNOW 0.00%↑ that lifted software stocks.
NVDA 0.00%↑ has been a driving force behind much of the U.S. market rally since mid-2023, fuelled by expectations that artificial intelligence integration will boost corporate profits.
While the company beat quarterly profit expectations, it forecast its slowest revenue growth in seven quarters, and its adjusted gross margins shrank.
On the economic front, the weekly jobless claims report will be released at 8:30 a.m. ET, followed by remarks from several Federal Reserve officials.
