US Futures Hold Steady as Inflation Data and Nvidia Earnings Shape Market Outlook

US stock futures traded mostly flat on Wednesday, with Dow Jones contracts hovering near the flat line, S&P 500 futures slipping 0.1%, and tech‑heavy Nasdaq-100 futures down 0.4%.

Futures Sit Still While Inflation Numbers Awaited

Market participants digested the Core Personal Consumption Expenditures (PCE) Index for July, which rose 3.3% year‑over‑year – exactly in line with forecasts and unchanged from the prior month. The modest inflation reading kept bond‑market nerves high but helped preserve risk appetite.

Nvidia’s AI Report: The Market’s Tipping Point

Seen as the benchmark for the AI trade, Nvidia (NVDA) is set to release its quarterly earnings. Analysts stress that the company’s AI‑chip revenue trajectory will likely steer the direction of tech equities.

Abercrombie & Fitch Beats Expectations, Boosts Retail Sentiment

Abercrombie & Fitch (ANF) raised its guidance in the morning release, sending the stock up 13%. The upgraded outlook signals a rebound in consumer spending within the apparel sector.

Strategic Signals: Fed and Jackson Hole in Focus

This week’s Jackson Hole gathering will feature a speech by Fed Chair Kevin Warsh, which could clarify the central bank’s policy path. Investors are weighing the latest inflation data against Nvidia’s earnings as they await the remarks.

■Dow Jones futures: flat

■S&P 500 futures: 0.1% decline

■Nasdaq-100 futures: 0.4% drop

■Core PCE inflation: 3.3% (on target)

■Abercrombie & Fitch shares: 13% gain

Markets are trying to balance a mildly sticky inflation backdrop with the earnings of AI‑driven giants like Nvidia. The upcoming Jackson Hole speech could reshape risk sentiment, so investors should monitor both macro indicators and company‑specific catalysts closely.

Kemal Tekin, Head of Emerging Markets Desk