Dow, S&P 500, Nasdaq futures rise in countdown to Nvidia earnings

Image source: Unsplash

US stock futures climbed on Wednesday as Wall Street awaited Nvidia (NVDA) earnings, looking for a strong signal on AI demand to provide some relief from ongoing inflation concerns.

S&P 500 futures (ES=F) moved up 0.4%, while those on the Nasdaq 100 (NQ=F) jumped 0.7%. Contracts on the Dow Jones Industrial Average (YM=F) , which includes fewer tech stocks, edged up 0.2%. On Tuesday, stocks declined as techs pulled back and Treasury yields surged.

Investors are counting down to the release of quarterly results from Nvidia, a catalyst for stocks more broadly in the past. While shares in the world's most valuable company have continued to rise this year, chipmaker rivals are closing in. Markets are pricing in a move of about 5.5% for Nvidia shares in either direction following the results, per Bloomberg.

Investors are looking to the results to gauge whether AI demand will continue to boom, given the chipmaker is a linchpin of the industry. The focus is on clues to whether Big Tech is still spending massively on AI buildouts.

Concerns that sticky inflation will force the Federal Reserve to hike interest rates have dampened interest in growth stocks, including AI, as US bond yields surged to levels not seen in almost two decades. Minutes of the Fed’s April meeting set for release on Wednesday, will reveal the depth of the differences among policymakers on the path of rates. Yahoo Finance reports.

🧠 CleanSpark rises after Wall Street notes AI power angle

CleanSpark shares rose more than 9% late Tuesday, among the few gainers in a soft U.S. session after Bernstein pointed to bitcoin miners with hefty grid power as key for AI data centers. The stock traded up 9.3% to $14.69, after hitting $14.93 earlier.

This has started to matter as investors no longer see some miners just as ways to bet on bitcoin. They’re now looking at whether those miners can convert power agreements, land, and data-center footprints into high-performance computing for AI workloads.

Bernstein analysts led by Gautam Chhugani called miners an “integral part of the AI value chain,” Sherwood News said. The firm set a $24 price target on CleanSpark. Bernstein said the industry has announced over $90 billion in AI-related deals, covering 3.7 gigawatts of capacity. A gigawatt is 1,000 megawatts. Techstock reports.

📊 Nvidia Earnings Date Locked In as Wall Street Awaits AI Stock Moves

NVIDIA said it will hold its call to go over quarterly results at 5 p.m. ET on May 20. Written remarks from CFO Colette Kress are due out soon after the numbers hit.

Nvidia’s earnings are in focus as the market looks for signs that AI data center spending is speeding up. Wall Street expects revenue to jump about 80% to nearly $79 billion and adjusted profit up 81.8% to $42.97 billion, based on an LSEG poll Reuters cited.

Nvidia shares closed Tuesday at $220.61, slipping about 0.7%. The company’s market cap ended up near $5.4 trillion.

Options pricing points to a 6.5% move either way for the stock on Thursday, which comes out to around $355 billion in market value, Reuters said. Matt Amberson, founder of ORATS, told Reuters investors seem “complacent about AI/capex,” meaning spending on big projects like data centers. Techstock reports.

📰 Warby Parker Shares Slip After AI Glasses Reveal; Investors React

Warby Parker shares fell Tuesday after the eyewear company revealed its first “Intelligent Eyewear” made with Google and Samsung. The launch gave investors a look at the product but did not answer questions about price, launch timing, or demand.

The stock last traded at $25.51 after trading between $23.62 and $30.20. Volume hit 11.7 million shares, nearly triple its usual pace, Robinhood market data showed.

Warby Parker’s push stands out this time as the company looks to shift past its main business selling glasses, contacts and eye exams, and bets on AI-powered wearables. AI in this case means software that reads voice, images, and other signals to answer what a user asks. Techstock reports.

📞 8X8 Q4 Earnings Call Highlights. Stock surges in pre-market

8X8 ( EGHT ) reported its fourth consecutive quarter of year-over-year revenue growth in fiscal fourth quarter 2026, with executives saying the company is seeing momentum from usage-based communications, artificial intelligence tools and disciplined cost management.

Chief Executive Officer Samuel Wilson called fiscal 2026 “a turning point” for the company, citing improved execution, operating discipline and strengthening demand across the business. Marketbeat reports.

📝 How CAVA Defied The Economic Slump Without Desperate Promos

Mediterranean fast-casual restaurant chain CAVA Group, Inc. stock traded higher in premarket action Wednesday after the company reported first-quarter results that topped Wall Street expectations and raised its full-year outlook.

The company reported first-quarter revenue of $438.27 million, surpassing the analyst consensus estimate of $411.25 million. Adjusted earnings came in at 20 cents per share, above analysts' expectations of 17 cents per share.

Food, beverage and packaging costs improved 20 basis points year over year to 29.1% of revenue, helped by a favorable menu mix. Benzinga reports.

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM ET). Stock Analysis reports.

1) MWC: Micware Co., Ltd.

Total gain: +11.47 (243.01%)

2) GCL: Global Holdings Ltd

Total gain: +0.4724 (109.43%)

3) SLXN: Silexion Therapeutics Corp

Total gain: +0.2210 (82.16%)

4) PETZ: TDH Holdings, Inc.

Total gain: +0.340 (41.98%)

5) WOK: WORK Medical Technology Group LTD

Total gain: +0.1117 (47.53%)

The closing price of the top three market percent gainers trading near or above $3 on May 19.

(All pricing and percent gains are based on regular market trading hours from 9:30 AM to 4:00 PM ET)
Stock Analysis reports.

1) WNW: Meiwu Technology Company Limited

Total gain: +2.340 (97.10%)

The stock appeared to be moving on no notable news.

2) SVRN: OceanPal Inc.

Total gain: +2.72 (49.64%)

The stock appeared to be moving on no notable news.

3) EDSA: Edesa Biotech, Inc.

Total gain: +2.95 (32.78%)

The company announced that it will present data on paridiprubart, its first-in-class anti-TLR4 antibody, at the 63rd European Renal Association (ERA) Congress, to be held June 3 – 6, 2026, in Glasgow, Scotland.

The ERA Congress is one of the world's leading nephrology meetings, convening clinicians and researchers focused on kidney disease.

(Estimate and Actual numbers represent Earnings Per Share in US Dollars)

PERI
Perion Network
Q1 2026

Before Market Close
Estimate: 0.030
Actual: N/A

IMVT
Immunovant
Q4 2026

Before Market Close
Estimate: -0.620
Actual: N/A

ROIV
Roivant Sciences
Q4 2026

Before Market Close
Estimate: -0.360
Actual: N/A

“It never was my thinking that made the big money for me. It always was my sitting.”

– Jesse Livermore

Sourced in: Reminiscences of a Stock Operator — GoodReads.