Stock futures rose early Wednesday as markets continued to shrug off geopolitical fears ahead of Nvidia’s eagerly-anticipated earnings.
Futures on the S&P 500 rose 0.1%, Dow Jones Industrial Average futures added 85 points to climb 0.2% and Nasdaq 100 futures were 0.1% up ahead of the open.
The Dow extended its slide Tuesday, falling for a fourth consecutive trading day, but the S&P 500 and Nasdaq Composite closed higher, helped by strong gains for Nvidia, Tesla, Amazon and Alphabet.
All the three major indexes began Tuesday lower after Russia’s Vladimir Putin updated the country’s nuclear doctrine, lowering the threshold for a nuclear response. While the S&P 500 recovered to gain 0.4%, the majority of stocks–312–fell in the session, perhaps suggesting investors remain concerned about the nuclear risk.
The Nvidia report “after the bell in what is likely to be the biggest event of the week,” Deutsche Bank strategist Jim Reid said in a note Wednesday. “The anticipation of this event seemed to pull markets up from their early geopolitical worries.”
The yield on the 10-year Treasury fell by more than 5 basis points to 4.34% at one point Tuesday as investors responded to Russia’s actions by buying safe haven assets, such as U.S. government bonds. But the yield climbed back to 4.402% by the end of the day and was edging higher again to 4.434% early Wednesday.