US Futures Head Lower As Nvidia Earnings Fail To Impress Investors: Expert Says Market Weakness Is 'Perfectly Normal,' But Late November Rally Is Still Possible

U.S. stocks could open on a negative note on Thursday after AI bellwether Nvidia Corp.'s (NASDAQ:NVDA) guidance fell short of some expectations. Futures of all three major indices were down as investors processed the AI giant's earnings.

Other chip makers like Qualcomm Inc. (NASDAQ:QCOM), Intel Corp. (NASDAQ:INTC), Broadcom Inc. (NASDAQ:AVGO), and Advanced Micro Devices Inc. (NASDAQ:AMD) also experienced pressure in premarket trading.

In premarket trading on Thursday, the SPDR S&P 500 ETF Trust (NYSE:SPY) fell 0.25% to $589 and the Invesco QQQ ETF (NASDAQ:QQQ) declined 0.34% to $501.46, according to Benzinga Pro data.

Cues From Last Session:

The Dow Jones snapped its two-session losing streak this week to close 100 points higher on Wednesday, while the S&P 500 eked a marginal gain to close in the green.

The tech-heavy Nasdaq, however, fell ahead of the volatility due to Nvidia's earnings after the bell.

Crude oil prices continued to rise amid growing tensions between Russia and Ukraine but remained under the $70 mark.

Treasury yields eased slightly as investors waited for further economic data.

On the economic data front, mortgage applications in the U.S. rose 1.7% from the previous week in the week ending Nov. 15, compared to a 0.5% gain in the prior period.

Most sectors on the S&P 500 closed on a positive note, with healthcare, energy, and materials stocks recording the biggest gains on Wednesday.

However, consumer discretionary and financial stocks bucked the overall market trend, closing the session lower.

Insights From Analysts:

Ryan Detrick, chief ...

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