U.S. stock futures on Thursday were signaling that fresh Wall Street records could be set, helped by a positive report from a leading technology company in what’s been a strong quarter of corporate earnings.
On Wednesday, the Dow Jones Industrial Average fell 211 points, or 0.58%, to 35931, the S&P 500 declined 12 points, or 0.26%, to 4689, and the Nasdaq Composite dropped 52 points, or 0.33%, to 15922. The S&P 500 ended just 0.3% away from its record high, and the Nasdaq Composite was just 0.4% away from a new record.
A strong quarter from graphics chipmaker Nvidia which recorded a 50% jump in revenue, helped to buoy sentiment. Corporate earnings have beaten Wall Street estimates, as strong demand has helped to offset the pressure from supply-chain disruptions.
Chicago Fed President Charles Evans said late Wednesday that the disruptions have lasted longer than he anticipated, though he still expects the central bank to end its bond-buying program in the middle of 2022 as currently anticipated. Markets will be highly tuned into any signals on who President Joe Biden will pick to chair the Fed.