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S&P 500, Nasdaq futures fall after Nvidia results even as indices gain for second dayThursday's session will not only see the market react to Nvidia's results, but multiple data points get reported before market open, including the Q2 GDP data, initial jobless claims and an address from Fed Governor Christopher Waller.By Hormaz Fatakia   August 28, 2025, 5:10:25 AM IST (Published)2 Min ReadFutures on Wall Street declined in the early hours of Thursday, Indian time, after underwhelming results from key constituent and AI giant Nvidia Corp. after market closing hours.

The Nasdaq futures are down over 100 points, while the S&P 500 futures are down 25. The Dow futures are fluctuating between gains and losses.

Benchmark indices continued to consolidate and move higher for the second day in a row on Wednesday. The Dow Jones is up nearly 300 points during these two sessions, while the Nasdaq has added 140 points. Although the indices are moving higher, there is an overall sentiment of caution amidst multiple news triggers and uncertainties that lie ahead.

First, Nvidia's results underwhelmed and the street will have to brace for the fact that the days of 100% and 200% growth are now past. Although its guidance projects a 10th straight quarter of 50%-plus revenue growth, it will be the slowest in these 10 quarters if the projection stands.

Thursday's session will not only see the market react to Nvidia's results, but multiple data points get reported before market open. The first revision of the Q2 GDP data will be released before opening, as will the initial jobless claims. Fed Governor Christopher Waller, one of the two governors who dissented against the FOMC consensus during the July policy meeting, and a key contender for the next Fed Chair, is also scheduled to speak earlier in the day. Pending home sales, along with the initial jobless claims data will also be reported today.

The other major trigger emerges on Friday, when the Personal Consumption Expenditure (PCE) inflation figures are reported. Estimates are projecting core PCE to rise 2.9% year-on-year in July, the fastest pace in five months and further away from the Fed's 2% target.

Oil declined in early Asia trading, paring some of Wednesday’s gains that were sparked by tightening US crude and fuel inventories.

Short-dated Treasuries continued to climb on Wednesday amid bets on Federal Reserve policy easing. The US two-year yield fell seven basis points and the 10-year dropped three basis points.

The US Dollar index continues to remain above 98, despite the knee-jerk reaction to US President Donald Trump's sacking of Fed Governor Lisa Cook, a matter that now heads to court.

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