- US stock futures showed mixed early Wednesday ahead of key inflation data and Nvidia earnings
- S&P 500 futures fell 0.06%, Nasdaq futures dropped 0.20%, Dow futures rose 0.07%
- Investors await July personal consumption expenditures price index, Fed's preferred inflation gauge
US stock futures were mixed early Wednesday as investors awaited key US inflation data, Nvidia's quarterly results and signals from the Federal Reserve's annual Jackson Hole symposium.
At 5:47 a.m. EDT, S&P 500 futures were down 4.50 points, or 0.06%, at 7,687.50. Nasdaq-100 futures fell 59.25 points, or 0.20%, to 29,217.50, while Dow Jones futures gained 37 points, or 0.07%, to 53,682.
The cautious start follows a positive session on Wall Street, where falling Treasury yields and lower oil prices helped lift stocks. The S&P 500 rose 0.3%, the Nasdaq Composite gained 0.7%, while the Dow climbed 160.24 points, or 0.3%, marking its third straight positive session.
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US Inflation Data In Focus
Investors are awaiting July's personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, due at 8:30 a.m. ET. Economists polled by Dow Jones expect prices to rise 0.1% month-on-month and 3.6% year-on-year. In June, the index fell 0.1% from the previous month but rose 3.7% annually.
The data comes as the bond market remains a key driver for equities. US Treasury yields reached multi-year highs last week, with the 30-year yield touching levels not seen in nearly two decades. Yields eased on Tuesday, however, with the 10-year Treasury yield falling nearly eight basis points.
Nvidia Earnings
Nvidia is scheduled to report its second-quarter results after the closing bell on Wednesday. Wall Street expects earnings of $2.09 per share on revenue of $92.28 billion, according to FactSet.
The results could have an outsized impact on the broader market. Nvidia is the largest company in the S&P 500, with a market capitalisation of more than $5 trillion, making its earnings a closely watched indicator of investor appetite for artificial intelligence stocks.
Jackson Hole Fed Signals
Investors are also looking ahead to Federal Reserve Chair Kevin Warsh's speech on Friday at the Fed's annual symposium in Jackson Hole, Wyoming.
Markets will look for clues on the Fed's policy outlook ahead of its September meeting. However, analysts expect Warsh to avoid offering detailed guidance on the immediate policy path.
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“Given his approach to the June and July press conferences, we think it is unlikely that he would move straight to a deep dive into the current economic outlook and its implications for policy over the balance of 2026,” Piper Sandler's head of central bank policy Kurt Lewis wrote to clients, according to CNBC
“Instead, we expect him to spend the bulk of his remarks on big-picture themes with an emphasis on the supply side and on how these topics will be addressed by the Task Forces,” Lewis added.
With inflation data, Nvidia's results and Jackson Hole ahead, investors are likely to remain cautious as they assess the outlook for interest rates and US equities.
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