US stock futures teetered around the flatline as investors counted down to Nvidia’s (NVDA) earnings report.
Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) fluttered up 0.1%.
Stocks fell on Monday, pulling back from last week’s record-setting rally following Federal Reserve Chair Jerome Powell’s speech in Jackson Hole, Wyo. His remarks sent bets for a September rate cut soaring as he stressed the current economic outlook may warrant a shift in monetary policy.
President Trump met with South Korea President Lee Jae Myung on Monday, but no changes were made to the trade deal between the countries that sets a 15% tariff on imports. Details of new investments in the US began to circulate after the meeting, however, with Korean Air announcing the purchase of 103 Boeing (BA) airplanes later that evening.
Read more: The latest on Trump’s tariffs
Now, Wall Street is bracing for Nvidia earnings, which land Wednesday after the bell. Expectations for its results are sky-high, with the company’s stock up almost 34% so far this year, even as restrictions on chip sales to China have possibly cost the company billions. Nvidia’s results will also serve as a litmus test for Big Tech since the industry’s eye-popping investments in AI have started to convince investors to look elsewhere.
In other corporate earnings, Dell (DELL), Dick’s Sporting Goods (DKS), Best Buy (BBY), Dollar General (DG), and Abercrombie & Fitch (ANF) will report their results this week.
Finally, the latest release of the Fed’s preferred inflation gauge, the Personal Consumption Expenditures (PCE) index, arrives Friday.