Dow, S&P 500, Nasdaq futures inch up as Wall Street awaits Nvidia earnings

US stock futures inched higher overnight Tuesday, as Wall Street looks to steady after another tech-led selloff ahead of a closely watched earnings update from Nvidia (NVDA) that will set the tone for the next leg of the AI trade.

Dow Jones Industrial Average futures (YM=F) inched up about 0.2%, while contracts tied to the S&P 500 (ES=F) rose 0.1%. Nasdaq 100 futures (NQ=F) also were up around 0.1%.

The lackluster moves followed another down day for stocks. The Dow (^DJI) and S&P 500 (^GSPC) logged their fourth straight decline, while the Nasdaq Composite (^IXIC) fell for the fifth time in six sessions. Bitcoin (BTC-USD) briefly dipped below $90,000 before rebounding, hinting at the market’s reducing appetite for crypto.

Traders are now bracing for Nvidia’s third-quarter earnings, due after Wednesday’s close. Analysts are predicting a move of up to 7% in either direction, carrying a $320 billion swing based on current market value. But recent profit-taking across mega-cap tech suggests investors are questioning whether valuations have stretched too far.

On the consumer front, traders will also parse earnings from Target (TGT), Lowe’s (LOW), and TJX Companies (TJX) before Wednesday’s opening bell. With fresh economic data still sparse after the federal government shutdown, results from the big-box retailers may offer the clearest read on the state of US consumer spending heading into the holiday season.

The first major post-shutdown release also looms on Thursday with the delayed unveiling of the September jobs report. The report will help shape expectations for the Federal Reserve’s next policy moves, with traders split on whether the central bank will cut rates next month.