S&P 500 futures held steady Tuesday night as traders awaited Wednesday's inflation report and Nvidia's second-quarter earnings. Dow futures slipped while Nasdaq-100 futures edged higher, extending a session in which all three major averages closed in positive territory.
U.S. stock futures were little changed late Tuesday. Dow Jones Industrial Average futures fell 0.02%, or 11 points, while S&P 500 futures were little changed and Nasdaq-100 futures rose nearly 0.1%.
The muted open follows a winning session. The S&P 500 gained 0.3% in regular trading, the Nasdaq Composite advanced 0.7%, and the Dow climbed 160.24 points, or 0.3% for its third consecutive positive day. Falling yields and lower oil prices helped drive the gains.
Inflation report looms
July's personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, is due Wednesday at 8:30 a.m. ET, ahead of the central bank's September meeting. Economists polled by Dow Jones expect a 0.1% month-over-month rise and a 3.6% year-over-year increase, following a June report that showed a 0.1% monthly decrease and a 3.7% annual gain.
Treasury yields have also drawn scrutiny. The 30-year bond rate hit levels not seen in nearly 20 years last week, though yields fell broadly on Tuesday, with the 10-year losing almost 8 basis points.
Nvidia earnings could set the tone
Nvidia reports second-quarter results Wednesday after the close. Wall Street projects earnings per share of $2.09 on $92.28 billion in revenue, according to FactSet. The print could sway the broader market, as the chipmaker is the largest S&P 500 member, with a market cap exceeding $5 trillion.
Investors are also watching Federal Reserve Chairman Kevin Warsh, who speaks Friday at the Fed's annual symposium in Jackson Hole, Wyoming, ahead of the central bank's September policy decision.
Source: CNBC
Trading involves risk.
Risk Disclaimer
