Dow Jones Today: Stock Futures Inch Higher as Investors Await Nvidia Earnings Report; Bitcoin Hits Another Record High

Dow Jones Today — Stock futures showed a slight rise on Wednesday as investors awaited the much-anticipated quarterly earnings report from Nvidia, the leading AI chipmaker. Futures tied to the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 all climbed by 0.2% early in the session, signaling a potential positive start for the day. The S&P 500 and Nasdaq had been on a two-day rally, recovering from some losses seen in the previous week. On the other hand, the Dow was experiencing a four-session losing streak​​

Nvidia’s earnings report, scheduled for release after the market closes, is expected to be a key event for the week. Investors are particularly optimistic about the company’s strong performance in the AI sector, having delivered impressive results in previous quarters. Nvidia shares had already gained 5% on Tuesday and showed a modest increase of 0.5% on Wednesday morning​

Other major tech stocks also saw mixed movement. Microsoft and Meta Platforms edged higher, while Apple, Tesla, Amazon, and Alphabet all showed slight declines​In contrast, Target made headlines for a significant drop in its stock, falling 18% after it posted disappointing results that failed to meet Wall Street’s expectations​

Meanwhile, Bitcoin reached a fresh record high of $94,500, continuing its remarkable post-election rally. The cryptocurrency has surged by approximately 35% since the election, benefiting from growing investor optimism that the upcoming administration’s policies may favor the market. The rise in Bitcoin’s value reflects strong buying activity, especially from institutional investors, as the digital asset’s trading volumes hit their highest level since March​​

This rally has sparked predictions that Bitcoin could reach even higher levels, with some technical analysis suggesting a potential target of $154,000. Investors are keeping a close eye on key support levels for Bitcoin, notably around $70,000 and $55,000​

As for other commodities, gold futures showed a slight increase, trading at $2,640 an ounce, despite a stronger U.S. dollar. Oil futures also saw a modest uptick. Meanwhile, the yield on 10-year Treasurys rose to 4.43%, signaling a shift in investor expectations as the Federal Reserve scales back its plans to aggressively cut interest rates​

Overall, the markets are in a holding pattern as investors await further earnings reports and economic data that could influence the direction of stocks and cryptocurrencies in the near term. With Nvidia’s earnings expected to be a major catalyst, all eyes will be on its results later today.