US stock futures inched higher with Wall Street on edge ahead of Nvidia's (NVDA) earnings report.
Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq 100 (NQ=F) rose 0.1%.
The chip giant is set to report its results on Wednesday after the bell. Investor expectations are sky-high, with Nvidia stock up around 35% so far this year despite US curbs on China chip sales. Investors will also be watching its results as a bellwether of Big Tech as investors show renewed skepticism toward relentless spending on AI.
In day trading, stocks cautiously rose Tuesday after President Trump moved to fire Federal Reserve governor Lisa Cook on allegations of mortgage fraud. Cook responded that she would not resign from her position and instead would file a lawsuit, setting up Fed independence to become a court matter.
After the bell, Cracker Barrel (CBRL) saw its second stock surge of the day after the company acquiesced to comments from Trump and public outcry that it should never have scrapped its old logo. Cracker Barrel said in a statement that its “old” logo would be reinstated, and its redesign would be abandoned.
Okta (OKTA) shares also jumped in after-hours trading as investors cheered earnings results that reflected booming demand for cybersecurity tools.
Meanwhile, UnitedHealth stock continued its slide on reports the US Justice Department is investigating the company over more issues than Medicare fraud.
