Dow Jones Futures, S&P Futures, and Nasdaq 100 Futures Rise Ahead of Nvidia Earnings

US stock futures edge higher ahead of Nvidia earnings, with Dow futures up 29 points, or less than 0.1%, S&P futures and Nasdaq 100 futures rising about 0.1%.

U.S. stock futures inched higher on Monday, with Dow Jones Industrial Average futures up 29 points, or less than 0.1%, and S&P 500 futures and Nasdaq 100 futures rising about 0.1% [1]. The positive movement came despite a challenging start to the week, as investors awaited key economic data releases and corporate earnings reports.

The most anticipated event of the week is Nvidia Corporation's (NASDAQ:NVDA) earnings report, scheduled for Wednesday after market close. Analysts expect Nvidia to post a 48% rise in earnings per share on revenue of $45.9 billion for its second fiscal quarter [1]. The company's strong performance in recent quarters has been driven by robust demand for its GPU chips used in generative AI applications [2].

Investors are also closely watching the Federal Reserve's preferred inflation gauge, the July personal consumption expenditure price index (PCE), which is expected to rise 2.9% on a year-over-year basis [1]. Despite an expected uptick in inflation, Federal Reserve Chairman Jerome Powell suggested last week he might be ready to support a rate cut soon [1]. Lower rates could drop the cost of borrowing, potentially spurring business investments and consumer spending to lift the economy [1].

Other corporate news includes Keurig Dr Pepper's acquisition of European coffee company JDE Peet’s for roughly $18 billion [1]. Meanwhile, U.S. President Donald Trump announced a "major" tariff probe targeting imported furniture [1].

In the bond market, the yield on the benchmark 10-year U.S. Treasury note is at 4.273% [2]. Investors will also follow comments from Fed officials to gauge their appetite for a rate cut in September. Fed Governor Christopher Waller, Dallas Fed President Lorie Logan, New York Fed President John Williams, and Richmond Fed President Tom Barkin are scheduled to speak this week [2].

Market participants will focus on earnings reports from several major companies this week, with Nvidia's earnings report being the most anticipated. The company's strong performance has been a key driver of market sentiment in recent quarters.

References:
[1] https://www.inkl.com/news/stock-market-today-dow-jones-nasdaq-100-futures-tumble-after-trump-fires-fed-governor-lisa-cook-interactive-brokers-pvh-corp-okta-in-focus
[2] https://www.ainvest.com/news/stock-futures-stable-week-opening-decline-investors-eye-nvidia-earnings-fed-inflation-gauge-2508/