US equity futures are experiencing an upward trend ahead of Thursday's opening bell as traders analyze the positive fourth-quarter earnings from the semiconductor giant Nvidia and a series of economic reports. The Dow Jones Industrial Average futures have increased by 0.1%, while the S&P 500 futures have seen a gain of 0.5%, and Nasdaq futures have risen by 0.7%. In the commodities market, oil prices have climbed higher, with North Sea Brent crude, the global benchmark, rising by 1% to $72.78 per barrel.
Meanwhile, the US West Texas Intermediate crude has also increased by 1%, sitting at $69.33 per barrel. Regarding the country's economic performance, the fourth-quarter gross domestic product (GDP) report was released at 8:30 am ET, revealing that it remained unchanged from the first estimate, exhibiting a 2.3% annual growth.
This aligns perfectly with the forecasts compiled by Bloomberg. Additionally, the new orders for durable goods report, also released at 8:30 am ET, indicated a rise of 3.1% in January, following a previous decline of 1.8% in December, surpassing expectations of a smaller 2% increase. However, new unemployment claims have increased to 242,000 in the week ending February 22, up from 220,000 in the previous week.
This figure also exceeded forecasts that anticipated 221,000 claims. Looking at international equities, Japan's Nikkei index saw an increase of 0.3%, while Hong Kong's Hang Seng index ended the day 0.3% lower. The Shanghai Composite index in China closed 0.2% higher. In Europe's early afternoon session, the UK's FTSE 100 index gained 0.3%, but Germany's DAX index experienced a decline of 0.9%. In equity movements, Nvidia's shares rose by 1.6% in pre-bell trading after the company released its fiscal fourth-quarter results late Wednesday, showcasing figures that surpassed analyst expectations and providing an optimistic outlook for Q1 revenue.
Similarly, shares of Opera Limited have risen by 12% following the company's announcement of a higher adjusted profit and revenue for Q4. On the other hand, it wasn't all positive in the market. Ibotta's shares plummeted by 41% after reporting a decline in Q4 adjusted profit and revenue. Digimarc's shares also faced a 30% retreat following the release of lower Q4 revenue figures. Overall, the market trends reflect a blend of optimism due to strong corporate earnings and cautious approaches due to mixed economic indicators..