Pre-Bell｜Wall St Futures Flat As Investors Await Nvidia Results; MongoDB Up 31%; Kohl's Up 22%; Canada Goose Up 16%;

U.S. stock index futures were flat on Wednesday as investors awaited AI leader Nvidia's earnings, expected to test the momentum of Wall Street's broader technology-led rally.

Market Snapshot

At 08:07 a.m. ET, Dow E-minis were up 15 points, or 0.03%, S&P 500 E-minis were up 4 points, or 0.06%, and Nasdaq 100 E-minis were up 16.75 points, or 0.07%.

Pre-Market Movers

Nvidia was rising 0.6% in premarket trading ahead of second-quarter earnings after the closing bell from the leading maker of artificial-intelligence chips. Analysts expect Nvidia to post adjusted earnings of $1.01 a share on revenue of $46 billion. Investors will be looking for progress on AI server racks shipments following manufacturing obstacles, as well as how Nvidia's business in China has been faring amid U.S.-China tensions that have led to restrictions of its most advanced semiconductors. Coming into Wednesday trading, Nvidia shares have risen 35% this year.

MongoDB Inc. jumped 31% after the database software company posted second-quarter adjusted earnings and revenue that topped analysts' expectations and raised its fiscal 2026 guidance. MongoDB said subscription revenue in the second quarter rose 23% to $572.4 million. The company added more than 5,000 customers during the first half of the year, a record for that time period. MongoDB now expects fiscal-year adjusted profit of between $3.64 and $3.73 a share, well above its prior forecast of between $2.94 and $3.12. Peer Snowflake was rising 4.5%.

Cracker Barrel Old Country Store rose 5% after saying it would bring back its old logo following pressure from President Donald Trump. The homestyle restaurant chain said its new logo would "go away" and its "old timer" would stay. The decision came just hours after Trump posted on social media that Cracker Barrel should return to its former logo and "admit a mistake."

Canada Goose stock was soaring 16% Wednesday after the outerwear retailer’s controlling shareholder received bids to take the company private, according to a report.

Okta's second-quarter earnings and revenue beat Wall Street forecasts and the identity-security company raised its fiscal-year outlook. It said its remaining performance obligations, or its subscription backlog, rose 18% to $4.15 billion in the second quarter. The company expects fiscal-year adjusted earnings of $3.33 to $3.38 a share on revenue of $2.88 billion to $2.89 billion. It previously expected earnings of $3.23 to $3.28 a share on revenue of $2.85 billion to $2.86. The stock rose 5.1%.

Shares of nCino jumped 9.6% after the financial-technology company reported better-than-expected second-quarter adjusted earnings of 22 cents a share on revenue of $148.8 million, and raised its fiscal 2026 profit and revenue guidance.

Second-quarter earnings at Box topped analysts' consensus and billings rose 3% to $264.9 million. "We continued to see strong momentum with Enterprise Advanced, which delivers intelligent workflow automation, advanced AI, powerful AI agents, and secure content management in one plan," said CEO Aaron Levie. The cloud-storage company said it expects fiscal full-year revenue to increase 8% to between $1.17 and $1.18 billion, up from a prior estimate for growth of 7%. Box shares rose 4%.

Kohl's rose 22% in premarket trading after reporting second-quarter adjusted earnings of 56 cents a share and raising its full-year outlook. The stock fell 6.5% late Tuesday after Bloomberg reported the retailer was asking some vendors for more time to settle invoices. The report cited people familiar with the matter.

PVH Corp , the owner of the Calvin Klein and Tommy Hilfiger brands, reported second-quarter earnings that beat analysts' expectations, sending shares 6.8% higher. PVH anticipates tariff costs to full-year adjusted earnings of $1.15 a share, compared with a previous projections of $1.05.

Market News

U.S. Treasury Secretary Bessent rules out government stake in Nvidia

U.S. Treasury Secretary Scott Bessent indicated on Wednesday that a government stake in chipmaker NVIDIA Corporation (NASDAQ:NVDA) is "not on the table," while suggesting the administration could consider investments in other strategic sectors.

During remarks on Fox Business, Bessent pointed to shipbuilding as a potential area where the government might take stakes.

Fed responds to Trump effort to fire Lisa Cook, notes president needs ‘cause’

The Federal Reserve on Tuesday said it would abide by any court decision on whether President Donald Trump has the legal authority to fire Board of Governors member Lisa Cook.

The Fed, in a statement from a spokesperson, noted that “Cook has indicated through her personal attorney that she will promptly challenge this action in court and seek a judicial decision that would confirm her ability to continue to fulfill her responsibilities as a Senate-confirmed member of the Board of Governors of the Federal Reserve System.”