US Stocks Hold Steady Ahead of Inflation Data and Nvidia Earnings Report

US stock futures traded flat in premarket trading on Wednesday ahead of key inflation data and Nvidia's earnings report.

Futures on the Dow Jones Industrial Average (YM=F) and S&P 500 (ES=F) hovered near the flat line, while the Nasdaq-100 (NQ=F) fell 0.2% after posting broad gains on Tuesday.

The key inflation reading is set to be released at 8:30 a.m. ET, with economists expecting a core Personal Consumption Expenditures (PCE) of 3.3%, unchanged from the month before.

Nvidia's earnings report, due after the closing bell, is seen as a quarterly yardstick for the health of the artificial intelligence trade, with investors increasingly focusing on companies' ability to generate returns on their massive AI investments.