NEW YORK (AP) — Stocks are in a holding pattern in early trading on Wall Street, and AI chip giant Nvidia slipped despite delivering results and a forecast that beat expectations. The S&P 500 edged down 0.1% in early trading Thursday. The index is still holding on to a gain for the week. The Dow Jones Industrial Average rose 235 points, or 0.5%, and the Nasdaq composite fell 0.7%. Salesforce rose after its profits also beat forecasts. European markets
were higher, while Asian markets closed mixed. Treasury yields edged lower in the bond market. Crude oil prices fell, as did the price of gold.
THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.
U.S. futures are in a holding pattern after stronger-than-expected earnings from chipmaker Nvidia helped ease some investor worries over the artificial intelligence boom.
Futures for the S&P 500, Dow Jones Industrial Average and Nasdaq were all effectively unchanged before the opening bell Thursday.
Nvidia rose less than 1% in overnight trading after the chipmaker and AI bellwether reported Wednesday that its latest quarterly revenue jumped 73% from a year earlier to $68 billion. The California company also gave a forecast of $78 billion for revenue in the current quarter, which exceeded Wall Street expectations.
Its CEO, Jensen Huang, said demand for Nvidia chips is still “skyrocketing.”
“AI is here, AI is not going to go back,” Huang said during a conference call.
Its robust earnings helped alleviate some concerns over whether the AI craze is real and whether huge investments will pay off. But many investors remain cautious.
Thomas Mathews, head of markets for Asia Pacific at Capital Economics, however argued in a research note on Thursday that “strong profit growth, as emphasized by recent earnings reports”, including Nvidia’s, is a key reason to think the S&P 500 will do well in 2026. He forecast the S&P 500 at 8,000 by the year’s end.
Warner Bros. Discovery shares were largely unchanged after the entertainment giant reported a $252 million loss in the fourth quarter. The surprise loss didn't seem to bother investors, who are likely more interested in which acquisition offer — Netfix or Paramount Skydance — the company and its shareholders ultimately accept.
Energy drink maker Celsius Holdings soared 14% after its adjusted earnings came in ahead of Wall Street projections. The owner of Rockstar Energy drinks said its revenue grew 86% in 2025, to more than $2.5 billion.
At midday in Europe, Britain’s FTSE 100 gained 0.1%, while France’s CAC 40 rose 0.9% and Germany’s DAX rose 0.5%.
Asian shares mostly advanced. Tokyo’s Nikkei 225 crossed the 59,000 mark for the first time, although it later gave up some gains, rising 0.3% to 58,753.39. Shares of SoftBank Group, which has a focus on AI technology, rose 4%.
Share prices also pushed higher after Japanese Prime Minister Sanae Takaichi appointed two economists viewed as favoring keeping interest rates low to the board of the central bank. The Bank of Japan has been gradually raising rates from near zero.
South Korea’s Kospi surged 3.7% to 6,307.27, driven by gains for tech-related stocks. The index surpassed the 6,000 level for the first time on Wednesday. It has gained 46% since the beginning of this year after enduring a year of political upheavals that ended with former President Yoon Suk Yeol being sentenced to life in prison.
Shares of Samsung Electronics, the country’s biggest listed company, jumped 7.1%. Chipmaker SK Hynix gained 8%.
Hong Kong’s Hang Seng lost 1.4% to 26,381.02. The Shanghai Composite index barely budged, closing at 4,146.63.
In Australia, the S&P/ASX 200 added 0.5% to 9,175.30.
Taiwan's Taiex was flat, while India's Sensex traded 0.1% higher.
In energy markets early Thursday, U.S. benchmark crude oil shed $1.03 to $64.39 per barrel. Brent crude, the international standard, gave up 77 cents to $69.92 a barrel.
Gold and silver prices fell on Thursday. The price of gold lost 0.8% and the price of silver fell 5.1%.
The dollar fell to 156.01 Japanese yen from 156.39 yen. The euro fell to $1.1805 from $1.1812.
