S&P 500 and Nasdaq Index: Stock Futures Rebound, Super Micro Jumps, Nvidia in Focus

Stock Futures Climb as Super Micro Soars 22%, Nvidia Earnings on Deck

Stock futures rose early Wednesday, rebounding from a four-day losing streak for the S&P 500. Super Micro Computer (SMCI) surged 22% in extended trading after filing its delayed financials just in time to meet Nasdaq’s compliance deadline. Traders are also focused on upcoming earnings from Nvidia (NVDA), Lowe’s (LOW), TJX (TJX), and Salesforce (CRM), along with key economic data including new home sales and building permits. The Federal Reserve’s preferred inflation gauge, the personal consumption expenditures (PCE) price index, is due Friday.

What Drove Super Micro’s 22% Postmarket Rally?

Super Micro Computer reported its fiscal 2024 results and first two quarters of fiscal 2025, easing delisting concerns that had pressured its stock. The company confirmed it had “regained compliance” with Nasdaq’s filing requirements, prompting the 22% stock jump.

The server maker’s sales more than doubled to $14.99 billion in fiscal 2024, fueled by demand for Nvidia’s GPUs, which are crucial for AI development. Notably, Elon Musk’s xAI is a Super Micro customer. Despite internal control weaknesses highlighted in the filing, Super Micro’s growth narrative remains intact, especially with the booming AI infrastructure market.

Can Nvidia Beat Lowered Expectations?

Nvidia will report its fiscal fourth-quarter earnings after Wednesday’s close. Analysts expect earnings of $0.85 per share, up 61.5% year-over-year, on $38.1 billion in revenue (+72.5% YoY).

While Stifel analyst Ruben Roy (Buy) anticipates minimal near-term impact from DeepSeek-related concerns, he believes Nvidia’s positioning in AI infrastructure remains robust. With many large-cap firms maintaining strong spending on AI, Nvidia could still surprise investors, even if a significant upside reaction in shares is unlikely.

Will Salesforce Deliver a Much-Needed Boost?

Salesforce is set to disclose its fiscal fourth-quarter earnings after the bell. Analysts project earnings of $2.61 per share (+14% YoY) on $10.1 billion in revenue (+8.1% YoY).

Oppenheimer analyst Brian Schwartz (Outperform) suggests these targets are a “low bar” and expects Salesforce to beat estimates. Positive field checks indicate a healthier operating environment and solid demand for its Agentforce AI platform. With a total return of 12% over the past 12 months, underperforming the S&P 500’s 25% gain, a strong report could boost investor sentiment.

What’s Next for Markets?

All eyes are on Friday’s PCE price index, which could influence the Federal Reserve’s next policy steps. Strong earnings from Nvidia and Salesforce could bolster tech sentiment, while economic data will help shape expectations for inflation and interest rates. Traders should remain alert to market-moving catalysts and consider positioning ahead of the PCE data release.

More Information in our Economic Calendar.