Investing.com – U.S. stock index futures were little changed in after-hours trade on Tuesday after a robust rally in technology stocks ahead of key earnings from market darling Nvidia sent Wall Street nearly to new highs.
But investors remained on edge due to new interest rate signals, mostly from the minutes of the Federal Reserve’s late April meeting, which was due to take place on Wednesday.
stabilized at 5,346.50 but rose slightly to 18,811.75 by 7:13 p.m. ET (23:13 GMT). rose to 40,016.00 points.
Fed minutes awaited as officials maintain cautious stance on rates
The publication is due on Wednesday and follows a series of cautious signals from central bank members.
During the meeting, the Fed kept rates steady and warned that inflation was getting tight. But he also still mentioned the possibility of cutting interest rates this year – a statement that markets have clung to.
However, several Fed officials warned this week that the central bank needs much more confidence that inflation is falling before it can begin cutting rates. But they also played down speculation that the bank would continue raising rates.
In addition to the minutes, other Fed representatives will speak in the coming days. The central bank is expected to potentially begin cutting rates in September.
Nasdaq and S&P reach all-time highs, ahead of Nvidia earnings
Wall Street indexes posted some gains on Tuesday, led primarily by the technology sector as investors braced for expected earnings from NVIDIA Corporation (NASDAQ:).
The chipmaker is widely considered a leader in the fast-growing artificial intelligence industry and is expected to achieve exponential revenue growth amid demand from the industry.
Nvidia currently produces the most advanced AI chips available on the market, and is expected to benefit significantly as major tech companies look to advance their AI plans.
Nvidia’s earnings expectations have led investors to continue buying tech stocks.
The stock rose 0.3% to a record closing high of 5,321.41, while the index rose 0.2% to a record high of 16,832.62. The increase was 0.2% to 39,872.99 points.
Nvidia, which also became the third-largest company on Wall Street, hovered just below record aftermarket sales.