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Stocks lowered as Wall Street awaited Nvidia earnings, hoping strong results could offer some relief from ongoing inflation concerns.
Futures attached to the Dow Jones Industrial Average (YM=F) fell 0.3%, S&P 500 (ES=F), and Nasdaq 100 (NQ=F) futures slid 0.2%.
The grand finale of earnings season lands on Wednesday, with Nvidia (NVDA) set to report its results after the bell. While the stock of the world’s most valuable company has continued to rise this year, chipmaker rivals are closing in.
Moreover, Nvidia’s results are expected to reverberate across markets. As a key indicator of the AI trade, the company’s performance is central to investor sentiment, especially amid geopolitical uncertainty and persistent inflation.
In day trading on Tuesday, stocks declined as tech pulled back and Treasury yields surged. Concerns that rising inflation could force the Federal Reserve to hike interest rates dampened interest in growth stocks, including AI.
Finally, the Iran war — a major driver of rising prices — continues with no end in sight. President Trump threatened to attack the country in the coming days if a deal isn’t reached soon.
Coming soon
Stock market coverage for Wednesday, May 20, 2026.
