Nasdaq futures up 77.25 points (Il Sole 24 Ore Radiocor) - New York, 25 Jun - US futures were mainly higher as AI darling Nvidia showed signs of a rebound after three straight days of losses.

Wall Street closed mixed yesterday with the Dow ending up 0.7% but the S&P 500 slipping 0.3% and the tech-heavy Nasdaq shedding more than 1% to record its worst day since April.

Nvidia's 13% three-day fall wiped 430 billion dollars off the stock just days after it had risen to post record highs and briefly become the most valuable company on the stock market.

The tech giant has boomed thanks to growing demand for chips that train and run generative AI models like OpenAI's ChatGPT. It has surged more than 1,000% since October 2022 and is up 139% so far this year. In heavy and volatile premarket trade it was up 2.5%.

Investors will be tracking the consumer confidence index due out later today along with a new batch of housing data to see how households are coping with high interest rates.

On the earnings front, Carnival and FedEx are among companies due to report quarterly results.

Shares in pool products distributor Pool Corp meanwhile fell more than 10% in premarket trading after shaving its guidance, while SolarEdge Technologies fell 17% after announcing plans for an offering of convertible notes.

Futures on the Dow Jones were down 49.00 points, or 0.12%, S&P 500 futures were up 8.25 points, or 0.15%, while futures on the Nasdaq were 77.25 points, or 0.39%, higher.

AAA-Sje

(RADIOCOR) 25-06-24 13:49:41 (0396) 5 NNNN