U.S. Futures Rise Ahead of Nvidia AI Earnings

Key Moments

U.S. stock futures moved modestly higher, following gains in the S&P 500, NASDAQ Composite, and Dow Jones Industrial Average from the prior session.
Nvidia (NASDAQ: NVDA) is set to report quarterly results after the close. Its performance will serve as a key gauge for AI-related demand and global equity sentiment.
Oil prices hovered near seven-month highs as markets focused on upcoming nuclear talks between Iran and the U.S. in Switzerland.

Futures Extend Wall Street Gains

U.S. equity futures inched higher on Wednesday as investors positioned ahead of a heavy earnings lineup, led by artificial intelligence heavyweight Nvidia. At 05:20 ET (10:20 GMT), Dow Jones Futures were up 68 points, or 0.1%. S&P 500 Futures rose 10 points, or 0.2%, while Nasdaq 100 Futures added 40 points, or 0.2%.

In the prior cash session, major U.S. benchmarks advanced. Investors grew less concerned about AI-driven disruption across multiple sectors. The S&P 500 climbed 0.8%, NASDAQ Composite rose nearly 1.1% to 22,863.68 points, and Dow Jones Industrial Average gained 0.8%.

AI Partnerships Boost Sentiment

Risk appetite improved on Tuesday after several AI-related announcements. Meta Platforms (NASDAQ: META) unveiled a multi-year agreement with Advanced Micro Devices (NASDAQ: AMD), while Anthropic outlined new partnerships. These moves eased worries that AI models could disrupt software and data-focused names.

Now, investors focus on Nvidia (NASDAQ: NVDA), the world’s most valuable company. Its quarterly results will indicate the trajectory of AI demand and semiconductor sales. Analysts expect these numbers to influence equity markets globally.

“It’s not only Nvidia investors who are nervous; the global equity market may also react, given AI’s importance,” said Laurence Booth, Global Head of Markets at CMC Markets.

Nvidia has beaten sales estimates for 13 consecutive quarters. Analysts are less concerned with beating forecasts and more focused on the size of any upside surprise. Current projections call for a 62% profit increase and 68% revenue growth for the quarter ended January, according to LSEG data.

Other tech and software earnings are set for release after the close, including Salesforce (NYSE: CRM) and Snowflake (NYSE: SNOW).

After-Hours Movers

Several stocks reacted sharply in aftermarket trading, influenced by corporate guidance and outlooks.

Company	Ticker / Exchange	Move	Key Driver
HP	NYSE: HPQ	Down 5%	Weaker-than-expected 2026 outlook amid U.S. trade regulation headwinds and rising memory chip costs
Workday	NASDAQ: WDAY	Down over 8%	Lower revenue forecast as corporate clients reduce spending amid macro uncertainty

Trump’s Tariff Policy Shapes Markets

Outside corporate earnings, markets monitored U.S. trade policy. President Donald Trump implemented temporary 10% global tariffs after the Supreme Court overturned his “reciprocal” levies.

During his State of the Union address, Trump said “everything was working well” with his tariff policy. He also called the Supreme Court decision “unfortunate.”

Trump addressed other issues, including inflation control and peace talks with Iran. He faces growing public dissatisfaction, particularly over high living costs. A Washington Post-ABC News-Ipsos survey showed only 39% approved of his performance, while 58% disapproved of his immigration approach.

Crude Oil Near Seven-Month Peaks

Oil prices stayed close to seven-month highs. Traders focused on upcoming U.S.-Iran nuclear negotiations in Switzerland. Brent futures rose 0.5% to $70.92 per barrel. West Texas Intermediate crude futures gained 0.5% to $65.93 per barrel.

Both benchmarks remain near early August highs. The U.S. has deployed military assets in the Middle East to pressure Iran. U.S. officials, including special representative Steve Witkoff and presidential adviser Jared Kushner, are expected to meet Iranian counterparts on Thursday.