Investing.com -- U.S. stock futures traded in a mixed fashion Thursday, with blowout results from chipmaker Nvidia (NASDAQ:NVDA) boosting the tech sector ahead of the start of the Jackson Hole symposium.
By 06:55 ET (10:55 GMT), the Dow Jones futures contract was down 10 points, or 0.1%, while S&P 500 futures traded 25 points, or 0.6% higher, and Nasdaq 100 futures climbed 180 points, or 1.2%.
Nvidia, the world's most valuable chipmaker, posted stunning quarterly results after the close Wednesday, crushing already sky-high estimates, with revenues of $13.5 billion during the second quarter, more than doubling the prior mark of $6.7B.
The California chipmaker was boosted by the intensifying frenzy over generative artificial intelligence, which looks set to continue as the year progresses as the company predicted third-quarter revenue would climb to $16B, or a year-over-year increase of 170%.
Nvidia stock jumped over 7% premarket, helping the likes of Microsoft (NASDAQ:MSFT) and Google-owner Alphabet (NASDAQ:GOOGL), both of which are rushing to incorporate generative AI into their Web search platforms and other services, higher.
Jobless claims, durable goods due
However, this positive tone isn’t universal, with Dow futures in the red after U.S. business activity readings undershot expectations, raising concerns about future economic growth, while fears of an overheated jobs market have also eased a touch.
Data due later in the session are expected to show that initial jobless claims have increased a touch, while durable goods orders are seen slumping 4.0% in July.
The main focus, though, will be the start of the yearly gathering of central bankers in Jackson Hole, Wyoming later Thursday, with investors focused on comments from Federal Reserve Chair Jerome Powell on Friday for fresh policy signals.
More retail earnings
Away from Nvidia, there are more earnings to digest, mainly in the retail sector, including from discount retailer Dollar Tree (NASDAQ:DLTR), casual clothing retailer Gap (NYSE:GPS), beauty salon Ulta Beauty (NASDAQ:ULTA), and department store chain Nordstrom (NYSE:JWN).
Crude steadies after U.S. inventories
Oil prices edged higher Thursday as traders digested a mixed set of U.S. inventories numbers ahead of Friday’s key speech from Fed chief Jerome Powell.
Data on Wednesday showed an unexpected, substantial build in U.S. gasoline and distillate inventories over the past week, which pointed to weakening U.S. fuel demand, but also a bigger-than-expected draw in broader crude inventories.
By 06:55 ET, the U.S. crude futures traded 0.3% higher at $79.12 a barrel, while the Brent contract climbed 0.3% to $83.48.
Additionally, gold futures fell 0.1% to $1,947.45/oz, while EUR/USD traded 0.1% lower at 1.0854.
(Oliver Gray contributed to this item.)