US equity futures were largely unchanged on Wednesday following a renewed selloff in technology stocks, as investors awaited pivotal earnings from Nvidia that could shape sentiment around the next phase of the artificial intelligence rally.
As of 4:42 P.M. (GMT+7), the Dow Jones Industrial Average futures ticked up by 0.08%, or 34.60 points, to 46,126.30 points, while S&P 500 futures edged up by 0.18%, or 11.70 points, to 6,629.10 points. The Nasdaq 100, heavily weighted to tech, also increased slightly by 0.18%, or 43.70 points, to 24,546.80 points.
The muted pre-market activity came after a fresh bout of declines on Wall Street. The Dow and S&P 500 notched their fourth consecutive loss, while the Nasdaq Composite slid for a fifth time in six sessions. Amid the broader pullback, Bitcoin briefly slipped below $90,000 before rebounding, underscoring mounting caution towards risk assets among investors.
Attention now turns to Nvidia, whose anticipated third-quarter results after the close are expected to dictate the next move for market leaders in the AI sector. Options markets signal that Nvidia’s stock could swing by as much as 7% in either direction—translating to a potential change of over $300 billion in market capitalization. Recent profit-taking in major tech stocks signals that investors may be questioning the sustainability of stretched valuations.
Investors will also parse quarterly results from key retailers Target, Lowe’s, and TJX Companies, all set to report before the opening bell. With comprehensive economic indicators still limited in the aftermath of the government shutdown, these earnings could provide important clues about consumer spending patterns as the holiday shopping season approaches.
Markets are also preparing for Thursday’s delayed September employment report, the first major data release since the shutdown. The jobs data is expected to be a crucial input for the Federal Reserve, as traders remain divided on whether the central bank will opt to lower interest rates at its December meeting.
