Dow, S&P 500, Nasdaq Futures Slip After Nvidia-Led Tech Selloff: Why NFLX, DUOL, CRWV, XYZ, MARA Are Trending After-Hours

• The Dow rose 0.03% in the prior session while the S & P 500 fell 0.5% and the Nasdaq declined 1.2%.
• Software stocks offered some support, with Snowflake rising 2.3% after Citi raised its price target to $280 from $270, citing growing AI momentum.
• Investors also monitored U.S.-Iran talks and awaited key economic data, including PPI and Chicago PMI.

U.S. stock futures were lower late Thursday as Nvidia's post-earnings slide weighed on semiconductor stocks and dampened sentiment around the AI-driven rally.

As of 9.15 p.m. ET, Nasdaq 100 futures were down 0.3%, while S & P 500 futures were down by 0.4%. Dow futures were down 0.6%.

On Stocktwits, retail sentiment toward the SPDR S & P 500 ETF Trust (SPY) was 'bullish' amid 'high' message volume, while sentiment toward the Invesco QQQ Trust (QQQ) was 'bearish' amid 'normal' message volume, and sentiment toward the SPDR Dow Jones Industrial Average ETF Trust (DIA) was 'extremely bearish' amid 'low' message volume.

US Market Drivers

In the prior session, the Dow Jones Industrial Average rose 0.03%, while the S & P 500 fell 0.5% and the Nasdaq Composite declined 1.2%.

According to The Kobeissi Letter on X, the S & P 500 has closed within 2.5% of its 50-day moving average for 63 consecutive sessions, the longest stretch since 2018,  while crossing the level 10 times over the past 50 sessions.“This also marks the 4th-longest stretch since the 2008 Financial Crisis,” it said.

Nvidia shares fell 5.5%, marking their steepest decline since mid-April and dragging down semiconductor peers including Broadcom, Lam Research, Western Digital and Applied Materials. The pullback came even as the company posted better-than-expected results as investors grew wary of elevated AI spending.

Michael Burry added to those concerns, noting Nvidia's purchase obligations have surged to $95.2 billion from $16.1 billion a year earlier, highlighting potential risks if demand softens.

Meanwhile, Salesforce rose 4% after beating quarterly expectations and announcing a large share buyback, though its fiscal 2027 revenue outlook disappointed. Snowflake rose 2.3% after Citi raised its price target to $280 from $270, keeping a 'Buy' rating. The brokerage said "Q4 earnings demonstrated increased AI momentum into FY27."

Fundstrat's head of technical strategy, Mark Newton, said on X that Salesforce“looks poised to bounce in the weeks ahead” and added that dip buyers may begin positioning long in software for mean reversion relative to both the broader market and semiconductor stocks.

Geopolitics also remained in focus as investors monitored developments in the U.S.-Iran nuclear negotiations. Iran said talks had progressed“very intensely and very seriously,” while mediator Oman described“significant progress.” The two sides agreed to continue discussions in Vienna next week.

Trending Stocks To Watch On NYSE, Nasdaq

Netflix (NFLX): The stock jumped over 8% in late trading after the company said it would not raise its offer for Warner Bros. Discovery following Paramount's competing bid that Warner Bros. said was a“superior deal.”

Duolingo (DUOL): The stock dropped over 20% in extended hours after issuing a softer FY26 revenue forecast despite reporting stronger fourth-quarter (Q4) results and authorizing a $400 million share repurchase program.

CoreWeave (CRWV): The stock declined about 9% in after-hours trading after guiding for Q1 revenue of $1.9 billion to $2 billion, below consensus of $2.24 billion, even as it projected FY26 revenue of $12 billion to $13 billion and outlined capital expenditure of at least $30 billion.

Block (XYZ): The stock surged about 24% in extended hours after announcing plans to cut more than 4,000 jobs as part of an AI-driven restructuring strategy.

Mara Holdings (MARA): The stock jumped about 14% in extended hours after reporting Q4 revenue of $202.3 million and a net loss of $1.7 billion, while announcing a partnership with Starwood to develop up to 1 gigawatt of data center capacity with potential expansion to 2.5 gigawatts.

How Global Markets Are Performing Today

In broader markets, the yield on the benchmark 10-year U.S. Treasury note was near 4.01%, while gold hovered near recent highs at around $2,030 per ounce.

West Texas Intermediate crude traded near $65 a barrel, while Brent crude held below $71.

Asian markets were mixed, with Japan trading lower while Australia and Hong Kong edged marginally higher. The MSCI Asia Pacific Index is still on track for its best February on record, up 6.4% for the month.

Markets are awaiting a batch of U.S. economic data due later in the day, including the Producer Price Index (PPI) readings, construction spending and the Chicago PMI.

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