Wall Street futures pointed moderately higher pre-bell Wednesday as traders took positions ahead of the after-bell fiscal Q1 earnings report from chip colossus Nvidia (NVDA), considered a tech-sector bellwether.
Nvidia shares traded up 1.8% pre-bell, with market expectations for the chip-maker's revenue to rise 80% on the year, while earnings do even better than that. Investors will also watch Q2 guidance closely.
In the futures, the S&P 500 rose 0.3%, the Nasdaq inclined 0.7% and the Dow Jones was up 0.2%.
Helping sentiment, bond yields eased modestly in morning hours, while West Texas Intermediate crude oil traded down 2.8% to $101.48.
Asian exchanges traded mostly lower overnight on tech-sector weakness, while European bourses tracked moderately north midday on the continent.
Lowe's (LOW) traded down 2% pre-bell after the home-improvement chain reported fiscal Q1 earnings and revenue just above expectations, and left guidance unchanged.
On the economic calendar is the Atlanta Fed Business Inflation Expectations report for May at 10 am ET, followed by the weekly EIA petroleum status bulletin 10:30 am.
The Federal Reserve releases minutes of its most-recent policy meeting at 2 pm.
Fed Governor Michael Barr is slated to speak on Wednesday.
In pre-market action, bitcoin traded at $77,540, and 10-year US Treasuries offered 4.65%. Spot gold commanded $4,489 an ounce.