US Stock Futures Steady After Nvidia Lifts Wall Street to Record Highs

U.S. stock index futures stabilized in evening trading on Tuesday following significant gains in Nvidia, which propelled Wall Street to new record highs. Attention is now shifting toward upcoming updates regarding the Federal Reserve and interest rates.

Both the S&P 500 and the Dow Jones Industrial Average reached all-time highs on Tuesday, primarily driven by Nvidia amid news that CEO Jensen Huang had completed his stock sales under a trading plan. Prior to this, the indexes had been nearing record levels after the Fed’s substantial interest rate cut last week.

This week, market participants are keenly awaiting speeches from several Fed officials, along with critical inflation data that could influence future rate decisions.

S&P 500 Futures saw a slight increase to 5,794.0 points, while Nasdaq 100 Futures also rose by 0.1% to 20,190.25 points. In contrast, Dow Jones Futures dipped 0.1% to 42,549.0 points.

### Key Focus: Powell’s Address and PCE Data

Multiple Fed officials, including Chair Jerome Powell, are scheduled to speak in the upcoming days, with Powell’s address on Thursday being particularly anticipated for insight into the Fed’s plans regarding interest rate reductions.

Last week, the Fed reduced rates by 50 basis points and began an easing cycle, which analysts predict could lead to a total decrease of 125 basis points this year.

However, Fed officials have cautioned that future cuts might be smaller compared to the initial reduction, emphasizing a data-driven approach moving forward.

Despite the Fed’s cautious stance, Wall Street surged to new heights after the announcement, with widespread gains across the market.

The PCE price index, which is the Fed’s preferred measure of inflation, is scheduled for release on Friday and is expected to play a significant role in shaping the central bank’s future rate strategies.

### Nvidia’s Performance Stabilizes After a Strong Day

Nvidia, a key player in the artificial intelligence sector, stabilized in after-hours trading after experiencing an over 3% increase on Tuesday.

This rise was largely attributed to reports indicating that CEO Jensen Huang had completed his sale of Nvidia shares, amounting to more than $700 million under a trading plan.

Previously, Huang’s stock sales had raised concerns about investor confidence, especially following the company’s quarterly results, which fell short of expectations, alongside announcements of delays in advanced AI chip production.

The gains on Tuesday propelled the S&P 500 up by 0.3% to a record high of 5,732.93 points, while the NASDAQ Composite surged by 0.6% to 18,076.10 points. The Dow Jones Industrial Average also rose by 0.2% to reach a record high of 42,208.22 points.