U.S. stock futures slipped early Wednesday as traders braced for a busy day of economic data and corporate earnings. Investors are especially focused on the upcoming March retail sales report, which could offer key insight into the health of the U.S. consumer.
Futures slide, Nvidia drops after warning
- Dow futures fell 328 points (–0.8%)
- S&P 500 futures slipped 1.49%
- Nasdaq 100 futures dropped 2.29%
Tech heavyweight Nvidia dropped over 6% in extended trading after revealing a $5.5 billion quarterly charge related to limits on exporting its H20 chips to China and other countries.
Calm before the storm?
Markets had a relatively quiet session Tuesday, but volatility could return. The Dow and Nasdaq have each lost about 4.4% since Trump’s April 2 tariff announcement, while the S&P 500 is down 4.8%. Economist Mohamed El-Erian warned that the calm may not last, citing unresolved trade tensions and policy uncertainty: “Let’s not get used to it… I suspect there’s volatility ahead.”
Key data and earnings on deck
Wednesday’s retail sales report is expected to show a 1.2% monthly rise, up from 0.2% in February. Investors will also keep an eye on industrial and manufacturing production. Earnings reports from Travelers, U.S. Bancorp, Abbott Labs, ASML, and Citizens Financial are also due, making today a crucial one for market sentiment.
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