U.S. stock futures were mostly flat on Tuesday evening as investors waited for Nvidia’s (NVDA) first-quarter earnings report, which is expected to help set the tone for the broader AI trade. Futures on the Dow Jones Industrial Average (DJIA), the Nasdaq 100 (NDX), and the S&P 500 (SPX) were down 0.08%, 0.16%, and 0.12%, respectively, at 6:35 p.m. EDT on May 18.
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Major stock indices fell again on Tuesday, marking a third straight day for the S&P 500 and the Nasdaq as the 10‑year Treasury yield hit its highest level since early last year. Overall, the Nasdaq, the Dow, and the S&P 500 slipped 0.8%, 0.7%, and 0.7%, respectively.
Now, all eyes turn to Nvidia, which reports earnings after Wednesday’s closing bell. The results will offer a key read on AI demand and the pace of the chip-driven infrastructure boom. Traders also look forward to earnings from Lowe’s (LOW), Target (TGT), Hasbro (HAS), e.l.f. Beauty (ELF), and Intuit (INTU) tomorrow.
Investors will also watch for the Federal Reserve’s April meeting minutes, due tomorrow, for clues on the path of interest rates.