Nvidia Earnings Send Nasdaq Futures Over 400 Points Higher

Investors are poring over Nvidia's (NVDA) third-quarter report this morning, with profits and revenue blowing past expectations. Comments from CEO Jensen Huang reignited AI optimism, after he noted demand for the company's Blackwell chips is "off the charts." In response, Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) futures are higher, while the Nasdaq-100 Index (NDX) is looking to tack on over 440 points.

Wall Street is also still digesting yesterday's Federal Open Committee (FOMC) meeting minutes for October, which showed officials disagree on rate cut plans for the end of the year. Meanwhile, nonfarm payrolls data showed 119,000 jobs added in September, more than double the expected 50,000, while the unemployment rate came in at 4.4%.

• Bull signal flashing for this popular car retailer.
• Buyback plan boosts semiconductor stock.
• Plus, more on Nvidia's results; Walmart's post-earnings pop; and cybersecurity firm with big plans.

5 Things You Need to Know Today

1. The Cboe Options Exchange saw more than 1.9 million call contracts and more than 1.2 million put contracts were exchanged on Wednesday. The single-session equity put/call ratio fell to 0.63, while the 21-day moving average remained at 0.58.
2. Chip stock Nvidia Corp (NASDAQ:NVDA) is 5.2% higher before the open, after the company announced better-than-expected third-quarter earnings and revenue beat, alongside an impressive revenue outlook. Today's surge will add to its 38% year-to-date gain, with recent support stemming from the 100-day moving average.
3. The shares of retail powerhouse Walmart Inc (NYSE:WMT) are 3.7% higher before the bell, fresh off a third-quarter beat. The company also announced it will transfer common stock and bonds to the Nasdaq from the New York Stock Exchange (NYSE). WMT has added 11.4% over the past 12 months.
4. Palo Alto Networks Inc (NASDAQ:PANW) stock is 1.6% lower in electronic trading, as traders brush off a fiscal first-quarter beat after the company's profit and revenue outlook was in line with expectations . The cybersecurity firm also unveiled plans to buy Chronosphere for $3.35 billion. PANW has struggled to maintain gains after tapping an Oct. 28 record high of $223.61.
5. What to expect as the week wraps up.

Nikkei Surges on Nvidia, Declining Bond Yields

Asian markets were a mixed bag today. Battery-maker CATL gapped nearly 9% lower in a bout of profit taking, keeping the Hang Seng flat and sending China’s Shanghai Composite down 0.4%. Elsewhere, declining bond yields and Nvidia earnings propped up Japan’s Nikkei by 2.7%, while small caps powered the South Korean Kospi to a 1.9% pop.

Over in Europe, tech and risk-on sentiment is restored, with AI names ASML, BESI, and ASMI leading the charge on the continent. At last check, London’s FTSE 100 is up 0.7%, while an outsized move from BNP Paribas has the French CAC 40 0.9% higher. The German DAX is up 1.1%, capping a strong rebound.