U.S. stock futures were steady early Wednesday as investors geared up for Q1 earnings results from semiconductor giant Nvidia (NVDA). Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were down 0.09%, 0.1%, and 0.11%, respectively, at 3:15 a.m. EST, May 28.
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During Tuesday’s regular trading session, the major indices saw strong gains, with the Dow Jones, the S&P 500, and the Nasdaq Composite up 1.78%, 2.05%, and 2.47%, respectively. This robust performance ended a four-day losing streak for both the Dow and the S&P 500.
Investor sentiment was buoyed by President Trump’s announcement to postpone a 50% tariff on the European Union until July 9. This development raised hopes that trade tensions were easing. Investors were also optimistic about possible tax cuts and fewer business rules, which could help the economy.
In after-hours trading, Okta (OKTA) stock dropped over 12% despite beating first-quarter fiscal estimates for both revenue and earnings. Also, Rocket Lab (RKLB) gained over 4% after announcing a $275 million acquisition of Geost, a developer of EO/IR sensors and key national security satellites.
In key economic reports today, investors will closely monitor the Federal Open Market Committee’s (FOMC) meeting minutes for any insight into the future monetary policy.
Apart from Nvidia, Salesforce (CRM), C3.ai (AI), HP Inc. (HPQ), SentinelOne (S), Synopsys (SNPS), Macy’s (M), and Dick’s Sporting Goods (DKS) will report earnings today.
Meanwhile, the U.S. 10-year treasury yield was up, floating near 4.469%. Simultaneously, WTI crude oil futures are trending higher, hovering near $60.92 per barrel as of the last check.
At the same time, the Gold Spot U.S. Dollar Price fell to nearly $3,300 per ounce on Wednesday, as risk-taking rose among investors after Trump delayed EU tariffs.
Elsewhere, European indices are expected to open muted today as investors await updates on U.S.-European Union trade talks.
Asia-Pacific Markets Ended Lower Today
Asia-Pacific indices were in the red today, as concerns over China’s slowing economy grew after e-commerce giant PDD (PDD) reported weak earnings.
At the same time, the Hong Kong index was down 0.44%. Further, China’s Shanghai Composite and Shenzhen Component indices closed lower by 0.02% and 0.26%, respectively. Also, Japan’s Nikkei and Topix indices changed marginally.
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