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U.S. stock index futures ticked modestly higher on Wednesday as investors cautiously positioned themselves ahead of a busy earnings slate, headlined by results from artificial intelligence bellwether Nvidia.
At 05:20 ET (10:20 GMT), Dow Jones Futures rose 68 points, or 0.1%, S&P 500 Futures gained 10 points, or 0.2%, and Nasdaq 100 Futures advanced 40 points, or 0.2%.
Wall Street closed higher in the previous session, as easing fears over AI-driven disruption across multiple industries helped stabilize sentiment. The S&P 500 climbed 0.8%, the Nasdaq Composite surged nearly 1.1% to 22,863.68, and the Dow Jones Industrial Average rose 0.8%.
Nvidia earnings to test AI confidence
Market optimism was buoyed on Tuesday after Meta Platforms (NASDAQ: META) announced a multi-year agreement with Advanced Micro Devices (NASDAQ: AMD), while Anthropic unveiled a series of strategic partnerships. These developments helped calm concerns that new AI models could trigger widespread disruption across software and data-driven businesses.
That optimism now faces a crucial test, with Nvidia (NASDAQ: NVDA) — the world’s most valuable company — set to report earnings after the closing bell. Nvidia’s results are widely seen as a barometer for AI investment momentum, chip demand, and broader equity market direction, given the technology’s growing influence on global stocks.
The chipmaker has beaten revenue expectations for 13 consecutive quarters, making the scale of any upside surprise more important than the beat itself. According to LSEG data, analysts expect quarterly profits to surge 62% and revenue to jump 68% for the period ending in January.
Other notable earnings due after the close include Salesforce (NYSE: CRM) and Snowflake (NYSE: SNOW).
In after-hours trading, HP (NYSE: HPQ) slid 5% after issuing a weaker-than-expected outlook for 2026, citing pressure from U.S. trade regulations and rising memory chip costs. Workday (NASDAQ: WDAY) fell more than 8% after forecasting softer revenue as corporate clients rein in spending amid ongoing macroeconomic uncertainty.
Tariff uncertainty lingers after State of the Union
Outside the earnings calendar, uncertainty continues to surround President Donald Trump’s tariff policy. The administration recently imposed temporary 10% global tariffs after the Supreme Court struck down the president’s earlier “reciprocal” levies.
In his State of the Union address on Tuesday, Trump defended his trade agenda, saying “everything was working well” before the court ruling, which he described as “unfortunate.” He also addressed topics ranging from inflation-fighting efforts to diplomatic talks with Iran.
Still, political pressure is mounting. A Washington Post–ABC News–Ipsos poll released Sunday showed only 39% approval for Trump’s overall performance as president, with dissatisfaction particularly pronounced over economic issues and the cost of living.
With Nvidia earnings looming and trade policy uncertainty unresolved, markets appear poised for another test of confidence as investors weigh growth prospects against rising risks.
