US stock futures were mixed on Tuesday, with the Dow Jones Industrial Average aiming to maintain its all-time high as investors approached Nvidia’s potentially market-moving earnings report cautiously.
Dow Jones Industrial Average futures traded flat, following a record close to kick off the week. S&P 500 futures remained unchanged, while Nasdaq 100 futures edged up around 0.2% after both indexes closed with losses.
Investors are grappling with uncertainty as they await chipmaker Nvidia’s earnings report, wondering if it will meet the high expectations. Semiconductor stocks declined on Tuesday, reflecting a 2% drop in Nvidia’s stock, highlighting the impact Nvidia’s results could have on the tech sector that has been boosted by AI investments.
Additionally, investors are eagerly anticipating an update on the inflation gauge favored by the Federal Reserve. Chair Jerome Powell’s indication of an impending interest-rate cut in September has bolstered confidence in a policy shift. The upcoming PCE price index report on Friday could influence expectations of a 0.5% interest-rate cut next month.
In corporate news, Apple announced a change in its CFO position just ahead of its major product launch. Kevan Parekh, an insider, will take over the role. The Paramount takeover seems to be nearing completion, with Skydance Media poised to finalize a deal following Eric Bronfman’s withdrawal of his bid.
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