United States stock futures edged slightly higher on Tuesday night (Wednesday AEST) as investors turned their attention to Nvidia’s highly anticipated first-quarter earnings report and upcoming Federal Reserve meeting minutes.
By 10 am AEST (12 am GMT), futures linked to the Dow Jones Industrial Average, S&P 500 and Nasdaq 100 were each up 0.1%.
In extended trading, shares of restaurant chain Cava climbed 7.3% after the company reported first-quarter earnings per share (EPS) of US$0.20, ahead of market expectations for $0.17. Revenue came in at $438.27 million, exceeding forecasts of $418.46 million.
Cava also raised its full-year adjusted EBITDA guidance to a range of $181 million to $191 million, up from its previous outlook of $176 million to $184 million.
Red Robin Gourmet Burgers surged 14.1% after posting adjusted first-quarter EPS of $0.13, compared with expectations for break-even results. Revenue totalled $378.3 million, ahead of the $362.1 million expected.
The moves followed a weaker regular session on Wall Street, where rising Treasury yields pressured equities.
The Dow Jones Industrial Average and S&P 500 lost 0.7% apiece, while the Nasdaq Composite dropped 0.84%.
Bond markets remained a key focus after the 30-year U.S. Treasury yield briefly touched 5.197% on Tuesday, its highest level in nearly 19 years.
Meanwhile, the benchmark 10-year Treasury yield reached a high of 4.687% at one point, its highest level since January 2025.
Treasury yields have surged in recent sessions after a string of economic reports last week indicated inflation pressures may be accelerating again.
Investors are now awaiting Nvidia’s quarterly earnings release after Wednesday’s closing bell, with markets closely watching for further evidence that artificial intelligence-driven demand for chips remains robust.
The earnings report is expected to provide fresh insight into the sustainability of the AI-fuelled rally that has driven technology stocks higher over recent months.
Markets are also anticipating the release of minutes from the Federal Reserve’s April policy meeting, scheduled for Wednesday afternoon in the United States (Thursday AEST), for additional clues on the central bank’s interest rate outlook.
Other companies due to report earnings before Wednesday’s opening bell include Lowe’s, Target and Hasbro.
