U.S. stock futures are surging this Thursday, November 20, 2025, signaling a strong open for Wall Street, primarily driven by an overwhelmingly positive earnings report from artificial intelligence (AI) chip giant Nvidia (NVDA). Investors are also keenly awaiting the release of the long-delayed September jobs report, a critical piece of economic data that could significantly influence market sentiment and Federal Reserve policy expectations.
Premarket Trading Activity and Futures Movements
Premarket trading indicates a robust start to the day, with futures contracts tied to the major U.S. indexes showing significant gains. S&P 500 futures are up approximately 1.2% to 1.3%, while Nasdaq 100 futures have jumped even higher, rising between 1.2% and 1.8%. Dow Jones Industrial Average futures are also experiencing a positive uplift, gaining around 0.5% to 0.6%. This broad-based premarket rally is largely a direct response to Nvidia's stellar quarterly performance and optimistic outlook, which has reignited confidence in the burgeoning AI sector.
Current Performance of Major Market Indexes
On Wednesday, November 19, 2025, U.S. equities closed higher, snapping a four-session losing streak for the S&P 500 (^SPX) and Dow Jones Industrial Average (^DJI). The tech-heavy Nasdaq Composite (^IXIC) also ended its two-day slide. The S&P 500 advanced 0.4%, the Nasdaq Composite climbed 0.6%, and the Dow Jones Industrial Average edged up 0.1%. This rebound was observed ahead of Nvidia's highly anticipated earnings report, with investors positioning themselves for potential upside in the AI space. The S&P 500 closed at 6617.32 points on Tuesday, Nov 18, 2025, and the Dow Jones Industrial Average at 46091.74 points. The US500, a CFD tracking the S&P 500, rose to 6724 points on November 20, 2025, gaining 1.24% from the previous session.
Upcoming Market Events
Today marks a busy day for market participants, with several key economic data releases and corporate earnings reports on the agenda.
Economic Data Announcements
The most significant economic event today is the release of the long-delayed September jobs report. Originally scheduled for October 3, this crucial report was postponed due to the 43-day U.S. government shutdown. The Bureau of Labor Statistics is set to release this data, which will provide vital insights into the strength of the U.S. labor market. Expectations are for tepid jobs growth of around 50,000. Any significant deviation from this forecast could lead to considerable market volatility.
Other economic indicators scheduled for release today include the U.S. Philadelphia Fed Index, Leading Indicators, and Existing Home Sales. These reports will offer further clarity on the current state of the U.S. economy.
Policy Decisions and Federal Reserve Outlook
Minutes from the Federal Reserve's October meeting, released yesterday, indicated that "many" officials believe that no more interest rate cuts are needed this year. This suggests a cautious stance from the central bank, with futures markets currently pricing in a roughly 50% chance of a 25-basis-point cut at the mid-December meeting. The Fed's continued assessment of inflation and labor market conditions will remain a key focus for investors.
Earnings Releases
Several prominent companies are slated to report earnings today, Thursday, November 20, 2025:
- Walmart Inc. (WMT): The retail giant is expected to report its quarterly results. Investors will be watching closely for insights into consumer spending and the broader retail landscape.
- Palo Alto Networks, Inc. (PANW): The cybersecurity firm is also reporting earnings this afternoon.
- Other companies reporting pre-market include NetEase (NTES), Jacobs Solutions Inc. (J), Vipshop Holdings (VIPS), Roadrunner Transportation Systems (ROAD), Maximus Inc. (MMS), Bath & Body Works (BBWI), Warner Music Group (WMG), VNET Group (VNET), Atkore Inc. (ATKR), ZIM Integrated Shipping Services Ltd. (ZIM), and Valneva SE (VALN).
Major Stock News and Developments
Corporate news continues to drive individual stock movements:
- Nvidia (NVDA): The chipmaker's shares jumped over 5% in after-hours trading and more than 5.5% in pre-market today after reporting robust third-quarter revenue of $57 billion, a 22% increase from the previous quarter and a 62% year-over-year surge. The company also provided an upbeat fourth-quarter revenue forecast that handily beat analysts' expectations, underscoring the resilient demand for its AI infrastructure. CEO Jensen Huang noted that demand for its Blackwell chips is "off the charts".
- Alphabet (GOOGL): Shares of Google's parent company jumped 3% yesterday to a fresh all-time intraday high after announcing its latest AI model, Gemini 3.
- Lowe's (LOW): The home improvement retailer saw its shares pop 4% after reporting a third-quarter profit beat and raising its full-year sales projection.
- Target (TGT): In contrast, Target's stock declined 2.7% after its total sales and comparable store sales fell short of analysts' estimates, leading the company to lower its full-year profit estimate.
- TJX Companies (TJX): The parent company of T.J. Maxx and Marshalls saw its shares edge 0.2% higher after reporting better-than-expected results and increasing its fiscal 2026 guidance.
- Microsoft (MSFT): Shares fell 2.7% yesterday after announcing strategic partnerships with Nvidia and Claude AI developer Anthropic, and also due to a ratings cut by Rothschild.
- Amazon (AMZN): The e-commerce giant's stock finished little changed after dropping 4.4% on Tuesday following its own rating cut by Rothschild.
- Infosys (INFY): The IT services major's ₹18,000 crore share buyback program opens today, allowing eligible shareholders to tender their equity shares until November 26, 2025.
- Reliance Power (RPOWER): The company's board has approved forming a new Board of Management to enhance decision-making and strengthen governance.
- Adani Enterprises (ADANIENT): The flagship Adani Group firm outbid competitors to win the bid for Jaiprakash Associates Limited (JAL) and also sold a 13% stake in AWL Agri Business.
- NBCC India (NBCC): The state-owned company secured a major project management consultancy contract worth ₹2,966 crore as part of the Naveen Nagpur Metropolitan development plan.
Today's market is poised for an exciting session, with Nvidia's strong performance setting a bullish tone for technology stocks, while the highly anticipated September jobs report and a slew of corporate earnings will keep investors on their toes. The interplay of these factors will likely dictate the market's direction throughout the day.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.