US Futures Slip With Nvidia Earnings in Spotlight – Europe Market Wrap

Global markets fell on Tuesday ahead of Nvidia results and evidence of sticky inflation, which reduced expectations for early interest rate reduction.

Futures on the Nasdaq 100 and S&P 500 indexes fell roughly 0.2%, while Europe’s Stoxx 600 index down 0.3%, with energy stocks among the worst losers on a decrease in oil prices. Sentiment was also dampened by data indicating that UK inflation dropped less than expected last month, raising doubts about when the Bank of England may begin decreasing interest rates.

All eyes are now on Nvidia, the artificial intelligence bellwether, which fell 0.6% in weak premarket New York trade. Wall Street expects it to announce a 243% increase in sales, but the 90% year-to-date share surge sets a high bar for future gains. Shares have reached a new record high this week, marking the end of a strong US earnings season.