26.08.202612:59:18UTC+00US Futures Inch Down Ahead of Nvidia

US equity futures were mostly lower on Wednesday, weighed down by declines in major chipmakers ahead of Nvidia’s earnings. S&P 500 futures slipped 0.2%, Nasdaq 100 contracts fell as much as 0.7%, while Dow futures were little changed.

Nvidia traded flat in premarket action ahead of its post-close results, which are expected to provide a key signal on capital spending by AI hyperscalers—a major driver of US equity gains in recent years. Shares of other mega-cap tech names, including Microsoft, Tesla, Alphabet, and Amazon, were all weaker.

Intuit dropped 10% after its outlook failed to meet the upper end of investors’ expectations. By contrast, Meta rose 3% on reports it may reach a settlement with US states over claims that its social media platforms harm teenagers.

Beyond the tech sector, more traditional parts of the economy came under pressure amid persistent worries about the broader macroeconomic backdrop. Solid consumer spending and income data, combined with stronger-than-expected PCE inflation readings, reinforced the case for the Federal Reserve to maintain a restrictive policy stance.