Nvidia Suspense Has Markets Tentative

U.S. stock futures sat near flat on Wednesday, a day after the Dow Jones Industrial Average snapped a four-day losing streak. Investors also awaited the release of Nvidia’s latest quarterly figures.

Futures for the 30-stock index sank 14 points to 42,221

Futures for the S&P 500 index inched up three points, or 0.1%, to 5,937.25.

Futures for the NASDAQ gained 33.25 points, or 0.2%, to 21,493.75.

Investors are coming off a strong session. The Dow rallied more than 700 points, or about 1.8%, while the S&P 500 rose 2%, each ending a four-day losing streak. The NASDAQ Composite advanced roughly 2.5%.

Those moves come after President Donald Trump on Sunday said that he would delay a 50% tariff on the European Union to July 9, after initially saying Friday that he was “not looking for a deal.” This added to investors’ hopes the stock market can leave the worst of the tariff chaos behind.

Investors are awaiting Nvidia’s earnings results, set to release Wednesday after the close. They’ll be paying close attention to what China restrictions will mean for the AI chipmaker, which sees no slowing in demand for its graphics processors.

Okta shares plunged more than 12% after the identity management software company kept its guidance due to macroeconomic uncertainty.
Otherwise, Okta beat fiscal first-quarter expectations on the top and bottom lines.

Traders will be reviewing the minutes from the Federal Reserve May meeting, due out Wednesday afternoon, for insight into how central bank policymakers are thinking through monetary policy at a time of greater macroeconomic uncertainty.

In Japan, the Nikkei 225 index slid 1.7 points Wednesday, while in Hong Kong, the Hang Seng dipped 0.5%.

Oil prices improved 51 cents to $61.40 U.S. a barrel.

Gold prices perked $12.60 to $3,313 U.S. an ounce.