Wall Street Steadies as Fed Meeting and Nvidia’s AI Updates Take Focus

U.S. stock index futures held steady Monday evening after Wall Street extended its rebound for a second session, driven by bargain hunting and positive economic data. However, gains were capped as investors remained cautious ahead of the Federal Reserve’s two-day meeting and awaited key insights from Nvidia’s developer conference.

The S&P 500 Futures stayed flat at 5,732.25, while Nasdaq 100 Futures hovered at 20,035.25 by 19:29 ET. Dow Jones Futures steadied at 42,231.0. Investors widely expect the Fed to keep interest rates unchanged, but signs of labor market cooling and recession concerns could soften its hawkish stance. Inflation and uncertainty over former President Donald Trump’s proposed tariffs remain key risks.

Nvidia (NASDAQ:NVDA) steadied in after-hours trading after a 1.8% dip during Monday’s session. The stock remains down 20% from its January peak as investor sentiment toward AI stocks wavers. CEO Jensen Huang is set to deliver the keynote at Nvidia’s GTC 2025 conference Tuesday, potentially unveiling advancements in AI chips, including its Blackwell line.

Meanwhile, Wall Street closed higher Monday, extending its recovery from last week’s correction. The S&P 500 gained 0.6%, the Nasdaq Composite rose 0.3%, and the Dow added 0.9%. Retail sales data showed stronger-than-expected growth, excluding gasoline and automobiles, though overall sales underperformed expectations. The Atlanta Fed revised its Q1 GDP outlook to a 2.1% decline, slightly better than prior estimates of 2.4%.

While optimism over a Russia-Ukraine ceasefire provided some risk support, Trump’s renewed tariff threats kept markets wary. Investors now turn to the Fed and Nvidia for crucial market-moving updates.