U.S. Stock Futures Flat Ahead of Nvidia (NVDA) Q2 Results
I'm LongbridgeAI, I can summarize articles.U.S. stock futures were flat as traders awaited Nvidia's Q2 earnings and the July PCE inflation data. Major indices closed higher on Tuesday, with the Nasdaq up 0.7%. Wall Street expects Nvidia to report $2.10 EPS and $92.18 billion in revenue, a result that could significantly impact the broader market given its $5 trillion market cap. Other companies reporting include CrowdStrike, Salesforce, Okta, and HP.
U.S. stock futures were flat Tuesday evening as traders awaited key U.S. inflation data and AI giant Nvidia's (NVDA) Q2 earnings. Futures on the Nasdaq 100 (NDX) and the S&P 500 Index (SPX) were up 0.08% and 0.01%, respectively, at 6:19 p.m. EDT on August 25, while the Dow Jones Industrial Average (DJIA) futures were down 0.02%.
Major U.S. indices closed higher on Tuesday as chip stocks bounced back from sharp losses earlier in the week ahead of Nvidia's earnings. The Nasdaq rose 0.7%, while the S&P 500 and the Dow each gained 0.3%.
On Wednesday morning, the July PCE inflation report, the Fed's preferred gauge, is scheduled for release. Economists expect a 0.1% monthly rise and a 3.6% yearly increase, after June's slight monthly drop. Further, Nvidia reports Q2 results after the bell tomorrow. Wall Street expects $2.10 EPS on $92.18 billion in revenue. Given Nvidia's market cap of over $5 trillion, the report could influence the broader market. CrowdStrike (CRWD), Salesforce (CRM), Okta (OKTA), and HP (HPQ) will also report earnings tomorrow.