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US Equity Futures Mostly Flat Pre-Bell as Traders Await Further Inflation Data, Nvidia Results

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US equity futures were mostly flat pre-bell Wednesday as traders awaited a key inflation report and AI bellwether Nvidia's (NVDA) financial results.

Dow Jones Industrial Average futures were 0.1% higher, S&P 500 futures were flat, and Nasdaq futures were 0.1% lower.

President Donald Trump said that the US Navy has told him that all mines have been removed or detonated within the Strait of Hormuz. "There is a Zero Tolerance policy on mine placement in full force and effect," Trump said in a post on Truth Social.

Nvidia is expected to report its fiscal Q2 earnings after the market closes. Analysts polled by FactSet expect earnings of $2.09 per share on revenue of $92.27 billion.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.2% at $85.39 per barrel and US West Texas Intermediate crude 2.4% lower at $80.37 per barrel.

The July core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, scheduled for release at 8:30 am ET, is expected to increase 0.2%, compared with the prior month's gain of 0.1%, according to estimates compiled by Bloomberg. The July durable goods orders report is expected to show a 0.5% increase, the same rate as the prior month.

Personal income for July is seen rising by 0.2%, the same gain as the previous month. The second estimate for Q2 GDP is seen coming in at 1.5%, unchanged from the advance print.

Federal Reserve Richmond President Thomas Barkin is slated to speak on Wednesday.

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