Market bulls, briefly roused Thursday morning, have slipped back into a fall hibernation. Why it matters: The world's largest retailer, world's most valuable company and world's largest economy all showed signs of life — but not enough to shift the mood of increasingly jittery investors.

Stock index futures pointed to a higher open Thursday after Nvidia's (NVDA) earnings flipped the script on risk, at least for this session. Nasdaq 100 futures (US100:IND) led the charge, up +1.5%. S&P futures (SPX) rose more than 1%,

The move pushed BTC to its lowest level since April and erased most of its 2025 gains, with the market cap slipping to roughly $1.77 trillion and 24-hour volumes topping $70 billion as forced liquidations and de-risking rippled through futures markets.

Nvidia's stock closed Thursday near session lows, falling 3.2% on the day after being up as much as 5.1% at its peak. The performance marked a continuation of relatively muted post-earnings stock moves for Nvidia.