Tonight’s Highlights | US Index Futures Edge Higher – All Eyes on Nvidia Earnings After the Close
Wednesday (Nov 19) pre-market, the three major index futures are slightly higher. As of press time: Dow futures +0.19%, S&P 500 futures +0.28%, Nasdaq 100 futures +0.31%.
Nvidia shares up nearly 2% pre-market ahead of its quarterly results after the close tonight. Investors are eager to parse the report for signs of whether the AI boom is still accelerating or starting to cool.
Data from top US options analytics firm Option Research & Technology Services (ORATS) shows the options market is pricing an approximate 7% move (up or down) in Nvidia shares after the earnings release.
Wolfe Research chief investment strategist Chris Senyek wrote: “For now, fears of an AI bubble bursting look overblown. If the U.S. economy softens, tech/comms services companies are well positioned to handle a temporary shock.”
Senyek added: “We remain willing to buy AI-related stocks on weakness, but we will wait for a big move in Nvidia earnings—whether sharply higher or lower—before getting more aggressive.”
Nvidia faces extremely high expectations right now—which is why investors have recently been taking profits in tech stocks. As of Tuesday’s close, the S&P 500 has fallen for four straight sessions and is down 3% in November.
Natixis Wealth Management CIO Benoit Peloille believes the recent decline could easily turn into a 10–15% S&P correction: “Even a very strong Nvidia print—I’m not sure it would be enough to stop that from happening.”
European stocks trading mixed: Germany DAX +0.29%, UK FTSE 100 -0.18%, France CAC 40 -0.01%.
Company News
Nvidia Earnings Out Tomorrow Morning – Implied $320 Billion Market-Cap Swing
Tech giant Nvidia will release its latest quarterly results after the US close on Wednesday. According to analytics firm ORATS, the report implies a two-way share-price move of about 7%, equivalent to up to $320 billion in market-cap volatility.
Brookfield Steps Up AI Infrastructure Push: Launches $10 Billion Fund with Nvidia Among Investors
Brookfield Asset Management executives revealed they are launching a new AI infrastructure fund targeting $10 billion in equity capital. The firm has already raised $5 billion from investors including Nvidia and the Kuwait sovereign wealth fund, plus financing from Brookfield’s own balance sheet.
The money will fund up to $100 billion of AI infrastructure—including data centers, power facilities and chip fabs—with most going to greenfield projects on undeveloped land.
Foldable iPhone Battery Capacity Revealed – Over 5400 mAh
Multiple supply-chain sources confirm Apple’s first foldable iPhone is internally testing 5400–5800 mAh batteries; the final production version will have at least 5400 mAh—surpassing the iPhone 17 Pro Max’s 5088 mAh and becoming Apple’s mobile device with the largest battery capacity to date.
EU Court Rejects Amazon Appeal, Upholds “Very Large Platform” Designation
The EU General Court dismissed Amazon’s request to overturn its “very large online platform” designation, meaning the company must comply with the strictest requirements under EU online content rules. The US online retail giant argued in court that marketplace platforms like Amazon Store do not pose systemic risk.
But the EU’s second-highest court said the EU’s classification of platforms with over 45 million monthly active users as sources of societal risk is appropriate.
Search Marketing Firm Semrush Shares Surge Over 74% Pre-Market
Semrush shares up more than 74% pre-market. Sources say Adobe is close to acquiring Semrush for $1.9 billion.
BlackRock Declares Quarterly Common Dividend of $5.21
BlackRock announced today that its board has declared a quarterly cash dividend of $5.21 per share, payable on December 23, 2025 to shareholders of record at the close of business on December 5, 2025.
Target: Q3 Net Sales $25.27 Billion, Below Market Expectations
Target Q3 gross margin 28.2%; Q3 net sales $25.27 billion vs est $25.33 billion; Q3 adj EPS $1.78 vs est $1.73. Target now expects full-year adj EPS of approximately $7–8 (previously $7–9). Target shares down 2% pre-market.
OpenAI Partners with Target to Bring New AI-Powered Experiences to Retail
OpenAI and Target are teaming up to bring new AI-driven experiences to retail. Through the Target app in ChatGPT, customers can get personalized recommendations, add items to multi-item carts, and check out using Drive Up, pickup or delivery. Target joins more than 1 million OpenAI enterprise customers using OpenAI models to power core products and platforms.
Under the agreement, Target will continue using the OpenAI API and ChatGPT Enterprise to boost employee productivity and enhance customer experience.
Lowe’s Q3 Adj EPS $3.06, Above Market Expectations
Lowe’s Q3 adj EPS $3.06, +5.9% YoY vs est $3.00; Q3 comparable sales +0.4% vs est +1.02%. Lowe’s now expects full-year adj EPS approximately $12.25 vs est $12.40; full-year capex not to exceed $2.5 billion (previously approximately $2.5 billion).