Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 25, 2026.
Brendan McDermid | Reuters
Stock futures fell Wednesday night as investors digested earnings results from Nvidia and Salesforce.
Futures tied to the Dow Jones Industrial Average slipped 105 points, or 0.2%. S&P 500 futures fell nearly 0.2%, while Nasdaq 100 futures dropped about 0.3%.
In after-hours trading, Nvidia shares were last slightly lower after the chip giant posted a fourth-quarter earnings and revenue beat. Salesforce tumbled more than 4% after the software company projected disappointing fiscal 2027 revenue estimates.
Salesforce — which has been one of the biggest victims of recent artificial intelligence disruption fears — weighed slightly on Dow futures in extended trading, reigniting concerns about the software sector.
The moves follow an upbeat day for U.S. equities. The S&P 500 closed Wednesday higher by 0.8%, marking a second straight day of gains, while the tech-heavy Nasdaq Composite jumped about 1.3%. The 30-stock Dow gained roughly 307 points, or 0.6%.
Software and tech names bounced back in the regular session, with Oracle gaining 1.2% and each of the “Magnificent Seven” tech giants closing in the green. Microsoft, a notable laggard this year, gained about 3% on the day.
Still, sentiment has been fragile in software and cybersecurity stocks this year as worries remain about the rapidly developing capabilities of AI products that could interfere with incumbent software vendors’ businesses.
“When you look at software right now, the earnings revisions on a one to two-year basis are positive,” J.P. Morgan Global Wealth Management U.S. equity strategist Abigail Yoder said Wednesday on CNBC’s “Closing Bell.”
“So this isn’t about what’s going to happen to software earnings in the next one to two years,” she said. “This is about their terminal value in ascribing a certain valuation to that, which I think the market is just wrangling around right now.”
On the earnings front, traders will await results from Warner Bros. Discovery, Dell Technologies and CoreWeave, all due on Thursday.
Elsewhere, investors are awaiting weekly jobless claims data, due Thursday, and the January producer price index reading out Friday.