Futures Steady Amid Nvidia Earnings and Inflation Data
US stock index futures were relatively unchanged on Wednesday as investors awaited key economic data and earnings reports from tech giant Nvidia.
The Federal Reserve's preferred inflation gauge, the Personal Consumption Expenditures report, is set to be released, with economists polled by Reuters expecting core PCE to have risen 3.3% in July from a year earlier.
Nvidia's quarterly earnings update will also be closely watched, as it is seen as a key indicator of the tech sector's performance and the sustainability of the AI-fueled rally.
Marc Ostwald, chief economist at ADM Investor Services, noted that Nvidia has become the 'bellwether for AI-related stocks,' with its recent underperformance relative to other US semiconductors signaling market concerns about the AI investment boom.