US stock futures dip ahead of PCE inflation data and Nvidia earnings
US stock futures fell Tuesday evening as investors awaited a key inflation report and Nvidia's quarterly earnings, events that could influence interest rate expectations and tech sector outlooks. S&P 500 futures dropped 0.2%, while Nasdaq 100 futures fell 0.4%. The market's focus shifts to Wednesday's release of July's Personal Consumption Expenditures price index, the Fed's preferred inflation gauge, expected to show overall inflation cooling to 3.6% annually. Nvidia's results, due after Wednesday's close, will test enthusiasm for artificial intelligence and high tech valuations. Tuesday's gains were supported by falling oil prices and Treasury yields, with Brent crude dropping below $87 per barrel. The 10-year Treasury yield fell to about 4.63%, while investors also monitor Fed official Kevin Warsh's comments at Jackson Hole this week.