Stock market today: Dow futures steady as AI scare cools, Nvidia earnings and Trump tariffs loom
Asian shares tracked higher Wednesday, with Japan’s Nikkei surging 2.2% to 58,583.12. U.S. stocks recovered from a tech slump, the S&P 500 adding 0.8% to 6,890.07, while the Dow tacked on 370 points to 49,174.50. Dow futures showed little movement as investors looked ahead to Nvidia’s results due after the bell. This week’s moves have circled around a single question: are AI innovations going to juice profits, or wipe them out? Traders have been quick to dump shares exposed to automation — what’s being dubbed on some trading desks as the “AI scare trade,” triggered by anxiety that AI could cut into swathes of software and services revenue. Then, as headlines cooled, buyers snapped stocks right back. “It’s a relief rally after broad-based, indiscriminate selling,” said Ritesh Ganeriwal, head of investment at Syfe in Singapore.
