US stock futures slipped while the U.S. dollar experienced minimal movement as traders appeared hesitant to initiate new positions ahead of the release of the U.S. Core Personal Consumption Expenditures Index (Core PCE) for January, the Fed's preferred inflation measure.
Shares of the online communications company Zoom Video Communications (NASDAQ: ZM) jumped more than 12% in after-hours trading on Monday after the company reported better-than-expected fiscal fourth-quarter earnings report.
Global stock markets continue to look mostly positive this week and the US major indices turned bullish again as chip-related stocks led across-the-board gains after Nvidia delivered another brilliant quarterly report. Nvidia shares gained nearly 10% after the US market close.
Today all eyes will be on shares of the leading maker of chips for artificial intelligence, Nvidia (NASDAQ: NVDA), with the chipmaker scheduled to announce Q4 earnings results after regular trading hours. The Jensen Huang-led company controls about 80% of the high-end AI chip market.
Global equity market volatility remains relatively low for the second day as the market just returned from a holiday-extended weekend. However, the earnings results from major retailers will help regain the Wall Street momentum. The high-profile retailers Walmart and Home Depot are set to report the Q4 2023 earnings results before markets open on Tuesday.