Wall Street Rebounds as Nvidia Earnings Loom, Trump Eyes Copper Tariffs

U.S. stock futures edged higher Tuesday evening after Wall Street suffered steep losses amid fears of a slowing economy and escalating trade tensions. Investor focus is now on Nvidia (NASDAQ: NVDA), set to release earnings after Wednesday’s close. The AI chip giant, which saw three consecutive losing sessions, rebounded 1.3% in aftermarket trading as investors anticipate strong demand-driven results.

Market losses earlier in the week were driven by concerns over weakening consumer sentiment and heightened trade uncertainties. U.S. President Donald Trump intensified these worries by threatening new tariffs on copper imports, aiming to boost domestic production and challenge China's dominance in the global market. The move sent Freeport-McMoRan (NYSE: FCX), the largest U.S. copper producer, up 5%.

Trump’s trade measures continue to rattle markets. His recent 25% tariffs on steel and aluminum imports have already sparked fears of retaliatory actions and disruptions in global trade. Additionally, he signaled that tariffs on Canadian and Mexican imports will likely take effect in March, further unsettling businesses and raising inflationary concerns.

Tech stocks bore the brunt of recent sell-offs, with Nvidia’s losses dragging the sector lower. However, optimism remains ahead of the company’s earnings, as it leads the AI chip industry despite growing questions over sustained capital investment following the launch of China’s DeepSeek AI.

On Tuesday, the S&P 500 dipped 0.5% to 5,955.36, while the NASDAQ Composite dropped 1.4% to 19,026.39. The Dow Jones Industrial Average, however, climbed 0.4% to 43,621.34. With Nvidia’s earnings in focus, investors brace for more market volatility.