ASX set for flat open as Wall Street dips; Nvidia, Qantas results ahead

Wall Street drifted as US inflation ran at 3.7 per cent last month, with the S&P 500 was mostly unchanged, with the Dow fell 123 points, with the Nasdaq fell 0.1 per cent. The ASX is set for a flat start, with futures pointing to a dip of 1 point at the open. The S&P 500 remains near its all-time high set earlier this month, while Treasury yields ticked higher following the inflation data. The 10-year Treasury yield climbed to 4.67 per cent, up from 4.64 per cent late Tuesday. Qantas and Wesfarmers are among companies due up in the reporting season. Nvidia, the largest stock by value in the US market, is due to report earnings after trading ends. Expectations are high for its forecast, as AI stocks have become shakier on worries that prices shot too high. Abercrombie & Fitch leaped 31.7 per cent after reporting stronger profit, while Intuit fell 3.9 per cent.