U.S. stock index futures moved modestly higher on Wednesday morning as market participants looked to upcoming quarterly results from Nvidia for direction amid persistent inflationary pressures. The slight rebound in futures comes after a string of losses triggered by surging Treasury yields and renewed macroeconomic uncertainty.
At 4:22 p.m. (Bangkok Time), futures contracts tied to the S&P 500 gained 0.27%, while those tracking the Nasdaq 100 advanced 0.60%. Meanwhile, Dow Jones Industrial Average futures slightly edged up 0.06%.
Costlier borrowing, reflected in elevated bond yields, continued to weigh on equities during Tuesday’s session. The S&P 500 and Nasdaq Composite each extended their losing streak to a third consecutive session, with the broad market index ending down 0.67% and the Nasdaq falling by 0.84%. The Dow index dropped 322.24 points, representing a 0.65% decrease.
Bond market volatility intensified as the 30-year U.S. Treasury yield temporarily climbed above 5.19% on Tuesday, a peak not seen in almost 19 years. The benchmark 10-year yield also rose, touching 4.687%—its highest level since January 2025. These moves followed a series of recent economic reports that suggested inflation pressures could be strengthening, while uncertainty lingers around the conflict between the U.S. and Iran and its effect on energy prices.
Investors are awaiting Nvidia’s quarterly earnings report, scheduled for release after the closing bell. In recent quarters, updates from the leading chipmaker have influenced broader market sentiment, as the company remains at the center of the growing demand for artificial intelligence hardware. The upcoming results will be closely analyzed for indications of continued investment in AI from major technology firms, at a time when geopolitical risks and inflation remain areas of investor focus.
The broader enthusiasm for AI-related stocks has offered some offset to market concerns; however, speculation that higher inflation could prompt additional interest rate increases from the Federal Reserve has put pressure on growth-oriented shares, including those linked to AI.
Additionally, investors are looking ahead to the publication of minutes from the Federal Reserve’s April policy meeting, scheduled for release at 2:00 p.m. ET on Wednesday. Several other major US companies—including Lowe’s, Target, Hasbro, V.F. Corporation, Analog Devices, and TJX—are also slated to report earnings before Wednesday’s opening bell.
