Mixed US Markets Ahead: Nvidia and Salesforce Earnings Loom Large
US equity futures point to a mixed open on Wall Street today as investors await key earnings from Nvidia and Salesforce. The Dow Jones Industrial Average, S&P 500 index, and Nasdaq 100 futures are all trading lower ahead of the opening bell. The tech-heavy Nasdaq 100 has declined by 0.28% to 29,194 points.
The upcoming release of US PCE data for July is also in focus. The Personal Consumption Expenditures (PCE) data shows changes in consumer behavior and goods/services prices. The second GDP growth estimate will also be released today.
Nvidia shares are trading higher ahead of its June quarter earnings report, while Salesforce shares have lost 2% due to the upcoming earnings announcement. Chipmaking stocks such as Micron Technology, Broadcom, Advanced Micro Devices (AMD), Intel, and Applied Materials may see increased focus in light of Nvidia's earnings.
The decline in crude oil prices over the past three days has also caught investors' attention, with Brent crude trading 2% lower at $85.49 per barrel.