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Investor Sentiment Stabilizes After Nvidia-Fueled Rally, Driving Muted Premarket Action for US Equity Futures
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Investor Sentiment Stabilizes After Nvidia-Fueled Rally, Driving Muted Premarket Action for US Equity Futures
Jun 6, 2024 5:47 AM

08:17 AM EDT, 06/06/2024 (MT Newswires) -- US equity futures were little changed premarket Thursday, with investor sentiment stabilizing after a rally fueled by optimism surrounding artificial intelligence chipmaker Nvidia ( NVDA ) .

Dow Jones Industrial Average futures slipped 0.1%, S&P 500 futures were flat, while Nasdaq futures gained 0.1%.

Nvidia ( NVDA ) shares closed 5.2% higher on Wednesday, pushing the company's market capitalization to over $3 trillion, surpassing Apple ( AAPL ) .

Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.7% at $78.94 per barrel and US West Texas Intermediate crude up 0.9% at $74.72 per barrel.

New unemployment claims, scheduled for release at 8:30 am ET, are expected to rise to 220,000 in the week ended June 1 from 219,000 in the preceding week, according to estimates compiled by Bloomberg.

US trade deficit, also due at 8:30 am ET, is expected to widen to $76.20 billion in April from $69.40 billion in the prior month. Q1 nonfarm productivity is expected to post a 0.3% gain, while the consensus for Q1 unit labor costs is for a 4.7% increase, according to estimates compiled by Bloomberg.

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