Nvidia Rises 4.7% After Hours on Strong Earnings, Lifting Dow Futures 180 Points

U.S. stock index futures rose Wednesday evening after Nvidia posted blockbuster earnings, while oil prices slipped following a reported revenue-sharing deal between Iran and Oman over the strategic Strait of Hormuz.

Nvidia Earnings Fuel Market Optimism, Dow Futures Up 180 Points

Dow futures gained 180 points, or 0.34%, to 53,701 points. S&P 500 futures rose 0.41% to 7,721.25 points. Nasdaq 100 futures climbed 0.68% to 29,489.75 points as of approximately 9:22 p.m. ET.

Nvidia shares jumped 4.71% after hours following better-than-expected fiscal second-quarter results. The company, led by Jensen Huang, reported revenue of $96.22 billion, up 106% year-over-year, beating analyst estimates of approximately $92.2 billion.

Nvidia guided third-quarter revenue to a range of $105.84 billion to $110.16 billion, representing growth of 85.7% to 93.2% year-over-year, compared to $57.01 billion in the same period last year.

Huang highlighted accelerating demand, stating "compute is now revenue," while describing AI infrastructure buildout as moving at "full throttle."

Tech Stocks Rally, Asian Markets Mixed

In after-hours trading, Salesforce Inc. surged approximately 13%, while CrowdStrike Holdings Inc. jumped 10.49%, with both companies reporting better-than-expected results, further boosting the broader tech sector.

Meanwhile, the U.S. dollar index, which tracks the greenback against a basket of currencies, stood at 99.114 as of approximately 7:02 a.m. ET, down 0.02%.

Across Asian markets, trading was mixed, with South Korea's KOSPI index rising 1.15% to 6,886.18 points, while Japan's Nikkei 225 fell 0.69% to 65,802.99 points.

Iran and Oman Reach Revenue-Sharing Deal on Strait of Hormuz, Oil Slips

In commodities, WTI crude fell 0.24% to $82.03 per barrel, while Brent crude declined 0.13% to $87.73 per barrel. Natural gas futures rose 1.51% to $2.885 per million British thermal units.

The oil price decline followed comments from Iran's Islamic Revolutionary Guard Corps indicating that Tehran and Oman had reached an agreement to jointly manage the Strait of Hormuz, according to CNBC.

Citing Iran's official Tasnim news agency, the official said Iran and Oman have agreed to share revenue generated from the Strait of Hormuz.

While the official did not explicitly state whether Tehran would impose transit fees, the revenue-sharing arrangement suggests Iran may levy charges on vessels passing through the strategic waterway.