Dow, S&P 500, Nasdaq futures steady after Trump delivers State of the Union, Nvidia earnings loom
February 25, 2026
Breaking News
Image source: Unsplash.
US stock futures edged higher on Wednesday as Wall Street reacted to Trump’s State of the Union address and braced for Nvidia’s earnings report.
Futures linked to the Dow Jones Industrial Average and contracts on the S&P 500 traded roughly flat.
Meanwhile, Nasdaq 100 futures rose 0.2%.
The muted futures action followed a strong regular session on Tuesday, where the S&P 500, Nasdaq Composite and Dow all rose as investors rotated back into technology shares. Yahoo Finance reports.
EdgeUp
🤖 Nvidia to report Q4 earnings ahead of annual GTC event
AI behemoth Nvidia will report its fourth quarter results after the bell on Wednesday, the most anticipated announcement of the earnings season.
The news comes just a few weeks before the company is set to host its GTC 2026 event in San Jose, Calif., where it is expected to make a number of major product announcements.
It also follows the launch of Nvidia’s latest AI superchip, Vera Rubin, during the annual CES technology conference in Las Vegas in January. Yahoo Finance reports.
🧠 Workday tumbles on dour revenue outlook amid AI threat
Workday shares fell about 10% premarket on Wednesday after the enterprise software maker forecast downbeat revenue as corporations pull back on spending amid broader macroeconomic uncertainty.
The shares have tumbled about 40% this year driven by a wider sell off in software stocks after AI startup Anthropic rolled out new enterprise tools, fuelling investor worries that automation could squeeze revenue streams for some traditional software vendors.
The Pleasanton, California based Workday forecast subscription revenue between $9.93 billion and $9.95 billion for fiscal year 2027, shy of the roughly $10 billion analysts were expecting, and said it would prioritize additional spending on its agentic AI roadmap. Yahoo Finance reports.
🛒 MercadoLibre stock set for a rough open after profit miss and margin squeeze hits MELI
MercadoLibre shares slid more than 6% in after hours trade Tuesday, hit by a profit miss for the quarter as spending on credit and logistics pressured margins.
The Uruguay based e commerce and payments firm posted net income of $559 million for October through December, short of the $587 million analysts surveyed by LSEG had penciled in, though revenue jumped roughly 45% to $8.8 billion.
“Margin compression” explained the earnings miss, according to Leandro Cuccioli, senior vice president of investor relations, who likened the region’s e commerce growth to “minute 15 of the first half.” Reuters reports.
MercadoLibre’s results landed in the spotlight, with the company pouring money into speedier delivery and expanding credit to keep shoppers loyal, even as investors press for answers on just when margins might bounce back. TechStock² reports.
🧠 AMD stock steadies before the open after Meta AI chip deal, 160 mln share warrant
Advanced Micro Devices shares edged up in premarket trading Wednesday, after the chipmaker disclosed a multi year artificial intelligence chip supply agreement with Meta Platforms.
The arrangement could end up giving the Facebook parent a significant equity stake.
The deal drops as AI hardware stocks twitch, with investors pushing hard for proof that data center chip demand can actually stretch beyond just a single dominant player.
Nvidia is set to report results in just a few hours, a regular catalyst that tends to swing the entire sector and can swiftly shift how investors look at spending around AI servers and accelerators. TechStock² reports.
🚀 Why Axon Enterprise Shares Are Trading Higher By Over 16%
Shares of Axon Enterprise rose sharply in pre market trading after the company reported better than expected fourth quarter financial results and issued FY26 sales guidance above estimates.
Axon posted fourth quarter revenue of $796.72 million, beating analyst estimates of $755.40 million. The company reported fourth quarter adjusted earnings of $2.15 per share, beating estimates of $1.60 per share, according to Benzinga Pro.
Axon Enterprise shares jumped 16.2% to $514.21 in the pre market trading session.
Here are some other stocks moving in pre market trading. Benzinga reports.
Top 5 Movers in Early Pre-Market
(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Stock Analysis reports.
1) UIS: Unisys Corporation
Total gain: +18.78%
2) FRGT: Freight Technologies, Inc.
Total gain: +17.62%
3) RXRX: Recursion Pharmaceuticals, Inc
.Total gain: +17.28%
4) AXON: Axon Enterprise, Inc.
Total gain: +16.33%
5) LFST: LifeStance Health Group, Inc.
Total gain: +14.99%
Yesterday’s Biggest Movers
The closing price of the top three market percent gainers trading near or above $3 on February 24.
Stock Analysis reports.
*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time
1) ANPA: Rich Sparkle Holdings Limited.
Total gain: +52.93%
The stock appeared to be moving on no notable news.
2) BNAI: Brand Engagement Network, Inc.
Total gain: +40.23%
The stock appeared to be moving on no notable news.
3) PVLA: Palvella Therapeutics, Inc.
Total gain: +37.08%
The company announced that it has commenced an underwritten public offering of $150.0 million of shares of its common stock. In addition, Palvella expects to grant the underwriters a 30-day option to purchase up to an additional $22.5 million of shares of its common stock. All shares of common stock to be sold in the proposed offering are to be sold by Palvella. Globe Newswire reports.
Today’s Notable Earnings
*Estimate and Actual numbers represent Earnings Per Share in US Dollars
STWD: Starwood Prop Trust
Q4 2025
Before Market Open
Estimate: 0.400
Actual: N/A
SNOW: Snowflake
Q4 2026
After Market Close
Estimate: -0.100
Actual: N/A
NVDA: NVIDIA
Q4 2026
After Market Close
Estimate: 1.500
Actual: N/A
Today’s Economic Dates
Time (ET) / Report / Period
9:35 AM - Richmond Fed President Tom Barkin speaks - N/A
11:00 AM - Kansas City Fed President Jeffrey Schmid speaks - N/A
1:20 PM St. - Louis Fed President Alberto Musalem speaks - N/A
Parting Thoughts
“Markets don’t repeat, but human reactions do.”
– Jim Grant
Sourced in: Jim Grant Quotes – Grant’s Interest Rate Observer.
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