FX.co ★ US Futures Steady Ahead of Nvidia Earnings

US stock futures stabilized on Wednesday as investors prepared for Nvidia's earnings report, anticipated to shed light on the robustness of the AI sector. Concerns over a potential market bubble and high valuations have been a focal point for investors. Additionally, attention is directed towards earnings from key retailers, including TJX Companies, Lowe’s, and Target, to gauge consumer spending trends amidst limited recent economic data due to the US government shutdown. Quarterly updates from notable firms such as Deere & Company and Palo Alto Networks will also be under scrutiny. During Tuesday’s regular trading, both the Dow and S&P 500 experienced declines of 1.07% and 0.83%, respectively, marking their fourth consecutive day of losses. Similarly, the tech-focused Nasdaq Composite fell 1.21%, pressured by downturns in AI-related stocks, including Nvidia (-2.8%), Microsoft (-2.7%), AMD (-4.3%), Palantir (-2.3%), and Micron Technology (-5.6%).