Traders work on the floor of the New York Stock Exchange on May 21, 2025 in New York City.
Spencer Platt | Getty Images
U.S. stock futures were little changed early Wednesday, as investors awaited earnings results from Nvidia, after the Dow Jones Industrial Average snapped a four-day losing streak.
Dow futures slipped by 28 points, or 0.07%. S&P 500 futures dipped 0.07%, while Nasdaq 100 futures was down 0.03%.
In extended trading, Okta shares plunged more than 12% after the identity management software company kept its guidance due to macroeconomic uncertainty. Otherwise, Okta beat fiscal first-quarter expectations on the top and bottom lines.
Investors are coming off a strong session for the major averages. The 30-stock Dow rallied more than 700 points, or about 1.8%, while the S&P 500 rose 2%, each ending a four-day losing streak. The Nasdaq Composite advanced roughly 2.5%.
Those moves come after President Donald Trump on Sunday said that he would delay a 50% tariff on the European Union to July 9, after initially saying Friday that he was “not looking for a deal.” This added to investors’ hopes the stock market can leave the worst of the tariff chaos behind.
“It’s important for investors to look past the tariff turmoil and look at the environment where we’ll have deregulation, more onshoring. Think about the tax bill, immediate expensing from a tax basis. Greater opportunities for M&A. So, the environment post-tariffs will be a great environment for investing,” Rich Saperstein, chief investment officer of Treasury Partners, said Tuesday on CNBC’s “Closing Bell.”
“Now, in between that, we have uncertainty, which could cause a slowdown in the next two quarters,” said Saperstein. “But I would look to the environment post-tariffs into ’26, versus looking in the immediate volatility.”
Investors are awaiting Nvidia‘s earnings results, set to release Wednesday after the close. They’ll be paying close attention to what China restrictions will mean for the AI chipmaker, which sees no slowing in demand for its graphics processors.
Elsewhere, Macy’s, Dick’s Sporting Goods and Abercrombie & Fitch are set to report before the open on Wednesday.
Traders will also be reviewing the minutes from the Federal Reserve May meeting, due out Wednesday afternoon, for insight into how central bank policymakers are thinking through monetary policy at a time of greater macroeconomic uncertainty.
