Stock market today: Live updates
On the other hand, Snowflake shares tumbled 11% after hours. The cloud computing company gave weaker-than-expected product revenue guidance for the fiscal second quarter.
Nvidia shares surged 26% in extended trading after the artificial intelligence beneficiary gave stronger-than-expected revenue guidance for its fiscal second quarter, while also reporting beats on the top and bottom line in the previous quarter.
Those moves follow a down day for the major averages, with the Dow Jones Industrial Average on Wednesday posting a fourth straight day of losses. The 30-stock index dropped 255.59 points, or 0.77%. The S&P 500 ended the day lower by 0.73%, while the Nasdaq Composite fell 0.61%.
Debt ceiling negotiations continued to weigh on the major averages. The talks hit a hurdle earlier Wednesday. Later, House Speaker Kevin McCarthy indicated negotiations were making progress.
"We play this political game leading up and into the limit," Atlas Merchant Capital CEO Bob Diamond said Wednesday on CNBC's "Closing Bell: Overtime." "I think there's no question that it would be a terrible, terrible, terrible decision to default for the dollar, for U.S. Treasurys, for our brand and reputation. I think the chances of that happening are extremely light."
Meanwhile, minutes released Wednesday from the Federal Reserve's latest meeting suggested central bank leaders were uncertain how to proceed with their rate hiking campaign.
In corporate earnings, retailers Best Buy , Dollar Tree and Ralph Lauren will report Thursday before the open.
Traders can expect the second reading on gross domestic product in the first quarter before the open on Thursday, as well as the latest weekly jobless claims data.
April pending home sales data is also on deck after the open. Economists polled by Dow Jones expect a rise of 0.8%, up from the decline of 5.2% the prior month.
-CNBC's Christina Wilkie contributed to this story.
Source: CNBC
