Tech stocks like Nvidia tumbled after earnings, while Salesforce rose; market reaction is negative.

From Investor’s Business Daily: 2024-08-28 18:30:08

Dow Jones futures rose slightly while S&P 500 and Nasdaq futures fell, with Nvidia announcing a $50 billion buyback. AI stocks like Broadcom and Taiwan Semiconductor retreated slightly. Salesforce, CrowdStrike, and Okta beat views, while storage plays like NetApp and Pure Storage diverged. The stock market rally retreated but came off intraday lows. Super Micro and Nvidia led tech stocks lower. Nvidia reported triple-digit revenue growth for a fifth straight quarter, guiding Q3 revenue slightly above consensus. Other earnings include Salesforce, CrowdStrike, Okta, NetApp, Pure Storage, and Nutanix. Investors should be prepared for reaction to Nvidia and other earnings.



Read more at Investor’s Business Daily: Dow Jones Futures: Nvidia Tumbles As Earnings Fail To Wow; Salesforce Rises