US stock futures edged lower today as investors reduced risk ahead of Nvidia's earnings release and the Personal Consumption Expenditures (PCE) price index. S&P 500 futures fell 0.1%, and Nasdaq 100 futures declined 0.2%, while the 10-year Treasury yield rose 2 basis points to 4.65%, despite oil prices falling for a third consecutive day. Markets are focused on Nvidia's results, due after the close, with options pricing a 5.4% move in the stock and expectations of revenue doubling year-over-year. Investors are also awaiting July PCE data, which economists forecast to rise 3.6% year-over-year, the lowest rate in four months, and a key factor for the Federal Reserve's monetary policy direction.
NVIDIA CorporationNvidia earnings due after close; options imply 5.4% move, revenue expected to double, but outcome unknown.
10-year Treasury yield rose 2 bps to 4.65% ahead of PCE data, indicating higher rates.
