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Nasdaq Futures Up Sunday Night: NVIDIA Earnings & Trump Cabinet In Focus
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Nasdaq Futures Still Point to Strong Monday
While Dow Jones Futures remain flat (down .03% as of 11:15 p.m. ET), Nasdaq Futures continue to point toward a strong open on Monday.
Nasdaq Futures are currently up 141 points, or .69%.
Tesla Jumping After Hours
Tesla (Nasdaq: TSLA) has been rallying on the belief the Trump Administration would be a boon for the company. Reports out Sunday night are leading to a rally in Tesla’s shares.
Bloomberg reports that the Trump transition team is prioritizing a framework for autonomous (self-driving) vehicles.
Since Elon Musk has made a ‘robotaxi’ network of autonomous vehicles a key strategy for Tesla, a clearer regulatory environment would benefit the company.
Earnings to Watch This Week
Earnings season is almost over, but there are a few key earnings to watch this week that aren’t NVIDIA.
- Palo Alto Networks: Reports on Wednesday. The cybersecurity kingpin is up 34% year-to-date.
- Walmart: Reports on Tuesday. Earnings are expected to come in at $.53 per share while sales hit $166.6 Billion.
- Ross Stores: Another consumer stock to watch, Ross is expected to reported earnings of $1.40 per share and sales of $5.1 billion.
As of 9:10 p.m. ET on Sunday night, Nasdaq Futures are up .55%. Let’s take a peak at where markets might open on Monday morning:
- Dow Jones Industrial Average Futures: Up 21.00 (+.05%)
- S&P 500 Futures: Up 13.50 (+.23%)
- Nasdaq Futures: Up 121.50 (+.59%)
There are a couple of key storylines to watch in the market this week.
1.) NVIDIA Earnings on Wednesday
NVIDIA (Nasdaq: NVDA) is reporting earnings on Wednesday, here’s what the market is currently expecting:
| Financial Metric | Wall Street Estimate |
| Revenue | $33.07 Billion |
| Net Income (Adjusted) | $18.44 Billion |
| EPS (Normalized) | $.74 per Share |
| Free Cash Flow | $16.38 Billion |
All data above provided by S&P Capital IQ.
Simply meeting the numbers above will be seen as a disappointment for NVIDIA. The company has a history of beating the estimates of Wall Street sell-side estimates and the actual expectations of buy-side investors (the people actually investing billions of dollars) are generally higher than published numbers you’ll read in the media.
Commentary from NVIDIA’s earnings call will also be scrutinized. There were more reports this weekend NVIDIA could face delays on its next-generation Blackwell systems, which are struggling with overheating. NVIDIA will provide more details on the demand they’re seeing across 2025 and also their ability to scale up to meet that demand.
In addition, Wall Street continues to project healthy margins for the company. After last quarter’s earnings report, NVIDIA’s stock fell the next day mostly due to fears around margins.
NVIDIA’s earnings now shape the direction for dozens of companies adjacent to the AI space. So, Thursday could be a very wild day in the technology space.
2.) Trump Appointees in Focus
Donald Trump is currently nominating members for his new Administration. While many have a nominal impact on the stock market, one that could shift the market in a big way this week is his nomination for Treasury Secretary.
Wall Street appears to be favoring Scott Bessent, a former Hedge Fund manager. However, Elon Musk and others in Donald Trump’s orbit have endorsed Howard Lutnick. As of Sunday night, betting markets favor Bessent at a 42% chance while Lutnick is slightly lower at 29%.
Of course, the nomination could also come out of ‘left field.’ Donald Trump is reportedly now weighing Kevin Warsh as a nominee. Regardless, investors are closely watching Treasury nominees and stocks could sell off if someone is seen as unqualified or backing economic policies seen as too harmful (such as excessive tariffs).
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