New York, NY – Stock futures experienced a slight increase early on Wednesday, following four consecutive days of losses for the S&P 500 index. Investors are eagerly awaiting the earnings report from technology company Nvidia, which is considered a bellwether for the market.
Futures linked to the Dow Jones Industrial Average rose by 54 points, or 0.12%, while Nasdaq-100 futures saw an increase of 0.68%, and S&P 500 futures climbed by 0.38%. The previous trading session saw the S&P 500 drop by 0.5% and the Nasdaq Composite by nearly 1.4%, marking their fourth straight day of losses. In contrast, the Dow managed a modest gain of about 0.4%.
Traders’ concerns have been fueled by recent economic reports, such as lower-than-expected consumer confidence data from the Conference Board, disappointing retail sales figures, and weak consumer sentiment. These factors have contributed to a sense of unease about the state of the economy, leading to declines in major market averages.
The upcoming earnings report from Nvidia, set to be released after the market closes on Wednesday, is eagerly anticipated as a potential driver for market direction. The company’s performance is closely watched, especially in light of recent developments such as the emergence of DeepSeek, which has cast doubts on the sustainability of the artificial intelligence sector.
Finance professor Aswath Damodaran from NYU Stern School of Business expressed his expectations for Nvidia’s earnings report, comparing the situation to a previous quarter where the company beat analyst estimates but failed to meet market expectations. Other companies scheduled to report earnings on Wednesday include Lowe’s, TJX, and Salesforce.
In addition to earnings reports, investors will be keeping a close eye on economic data such as new home sales and building permits. However, the most anticipated event is the release of the personal consumption expenditures price index on Friday, as it is considered the Federal Reserve’s preferred measure of inflation.