Dow Jones futures climb as Nvidia boosts AI trade, US NFP awaited

Dow Jones futures rise as Nvidia’s strong results and upbeat outlook revived confidence in the AI trade.
September Nonfarm Payrolls are expected to rise to 50K from 22K, with the Unemployment Rate holding steady at 4.3%.
Wall Street rose on Wednesday as investors reduced expectations for a December Fed rate cut after the latest FOMC Minutes.

Akhtar Faruqui FXStreet

Dow Jones futures advance 0.62% to trade near 46,500 during European hours on Thursday, ahead of the United States (US) market open. The S&P 500 futures and Nasdaq 100 futures are also higher, rising 1.29% and 1.78% to around 6,750 and 25,150, respectively, at the time of writing.

US index futures rise as market confidence revived in the artificial intelligence trade after Nvidia released strong quarterly results and upbeat outlook on Wednesday. CEO Jensen Huang said demand for its Blackwell chips is “off the charts.” Other chipmakers and AI-related stocks, including AMD, Micron Technology, Broadcom and Palantir, also moved higher.

Traders await the release of the US September US labor data later on Thursday for fresh direction on the Fed’s policy outlook. Markets expect Nonfarm Payrolls to rise by 50K in September 2025, up from 22K in August, while the Unemployment Rate is projected to remain at 4.3%. The US Bureau of Labor Statistics (BLS) has said it will not publish the regular October employment report because household survey data cannot be collected retroactively, adding that the missing data will be included in the delayed November release.

Wall Street advanced in Wednesday’s regular session as markets trimmed expectations for another Federal Reserve (Fed) rate cut in December following the latest Federal Open Market Committee (FOMC) Meeting Minutes. The Dow Jones added 0.1%, the S&P 500 rose 0.38% and the Nasdaq 100 gained 0.59%.

The FOMC Minutes from the October 28–29 meeting showed officials remain divided and cautious about the path of interest rates. While most participants saw further rate cuts as likely over time, several did not view a December reduction as appropriate. According to the CME FedWatch Tool, markets now assign a 34% chance of a 25 bps cut in December, down from 50% just a day earlier.

Dow Jones FAQs

What is the Dow Jones?

The Dow Jones Industrial Average, one of the oldest stock market indices in the world, is compiled of the 30 most traded stocks in the US. The index is price-weighted rather than weighted by capitalization. It is calculated by summing the prices of the constituent stocks and dividing them by a factor, currently 0.152. The index was founded by Charles Dow, who also founded the Wall Street Journal. In later years it has been criticized for not being broadly representative enough because it only tracks 30 conglomerates, unlike broader indices such as the S&P 500.

What factors impact the Dow Jones Industrial Average?

Many different factors drive the Dow Jones Industrial Average (DJIA). The aggregate performance of the component companies revealed in quarterly company earnings reports is the main one. US and global macroeconomic data also contributes as it impacts on investor sentiment. The level of interest rates, set by the Federal Reserve (Fed), also influences the DJIA as it affects the cost of credit, on which many corporations are heavily reliant. Therefore, inflation can be a major driver as well as other metrics which impact the Fed decisions.

What is Dow Theory?

Dow Theory is a method for identifying the primary trend of the stock market developed by Charles Dow. A key step is to compare the direction of the Dow Jones Industrial Average (DJIA) and the Dow Jones Transportation Average (DJTA) and only follow trends where both are moving in the same direction. Volume is a confirmatory criteria. The theory uses elements of peak and trough analysis. Dow’s theory posits three trend phases: accumulation, when smart money starts buying or selling; public participation, when the wider public joins in; and distribution, when the smart money exits.

How can I trade the DJIA?

There are a number of ways to trade the DJIA. One is to use ETFs which allow investors to trade the DJIA as a single security, rather than having to buy shares in all 30 constituent companies. A leading example is the SPDR Dow Jones Industrial Average ETF (DIA). DJIA futures contracts enable traders to speculate on the future value of the index and Options provide the right, but not the obligation, to buy or sell the index at a predetermined price in the future. Mutual funds enable investors to buy a share of a diversified portfolio of DJIA stocks thus providing exposure to the overall index.

Author

Akhtar Faruqui

FXStreet

Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.

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