Dow, Nasdaq Futures Rally as Nvidia Gears Up for Earnings

Dow Jones Industrial Average (DJIA) and Nasdaq-100 Index (NDX) futures are eyeing triple-digit gains this morning, while futures on the S&P 500 Index (SPX) are also higher as the benchmark attempts to bounce back from a four-day skid. Investors are brushing off dismal consumer confidence data as Nvidia (NVDA) rallies ahead of its report, which is due out after the close. New home sales data will also be in focus later today.

Continue reading for more on today's market, including:

• Digging into stock win streaks after Meta Platforms' rally.
• Nvidia prepares for high-stakes quarterly earnings report.
• Plus, LOW and TJX higher after earnings, and automaker lifts quarterly dividends.

5 Things You Need to Know Today

1. The Cboe Options Exchange (CBOE) saw more than 2.3 million call contracts and 1.4 million put contracts exchanged on Tuesday. The single-session equity put/call ratio rose to 0.64 and the 21-day moving average stayed at 0.60.
2. Lowe's Companies Inc (NYSE:LOW) stock is up 3.4% in premarket trading, after the company announced a top- and bottom-line win for the fourth quarter as sales improved. LOW added 12.5% in the last nine months.
3. TJX Companies Inc (NYSE:TJX) reported better-than-expected earnings and revenue for the fourth quarter, but the retailer's current-quarter and fiscal-year outlook were below expectations. Nevertheless, TJX is up 2.3% before the bell, while sporting a 23.7% year-over-year lead.
4. General Motors Co (NYSE:GM) will raise its quarterly dividend 25% to 15 cents per share, matching its competitor Ford Motor (F). The automaker also announced a $6 billion stock buyback plan. GM is up 3.6% ahead of the open, and added 17.4% in the last 12 months.
5. The personal consumption expenditures (PCE) price index is due out this week.

European Markets Higher After Germany's Election

Asian markets finished mostly higher on Wednesday, with the exception of the Nikkei in Japan, which slipped 0.3%. Hong Kong’s Hang Seng jumped 3.3%, after the city pledged $1 billion to artificial intelligence (AI) research, hoping to become a global AI hub. The South Korean Kospi rose 0.4%, while China’s Shanghai Composite added 1%, as Chinese electric vehicle (EV) stocks Xpeng and Li Auto rallied amid Tesla’s (TSLA) slide.

European bourses are firmly higher, as German stocks extend their post-election rally, and investors unpack a flood of corporate earnings reports. The German DAX is up 1.7% at last glance, while the French CAC 40 adds 1.4%, and London’s FTSE 100 tacks on 0.7%.