Wall Street leaned toward tiny gains early Tuesday ahead of a two-day meeting of the Federal Reserve, where officials will make a decision on where to take the central bank’s benchmark interest rate.
Futures for the S&P 500 and the Dow Jones Industrial Average were up less than 0.1% before the bell. Nasdaq futures where unchanged.
Nvidia rose about 1% after U.S. President Donald Trump said he would allow the company to sell an advanced type of computer chip used in the development of artificial intelligence to “approved customers” in China. The chip, known as the H200, is not Nvidia’s most advanced product.
The move has wide potential ramifications, experts said.
“This would allow China to speed up its buildout of AI infrastructure and increase the likelihood of Chinese AI models matching, or possibly even overtaking, frontier U.S. models,” Julian Evans-Pritchard of Capital Economics said in an analysis.
Trump said the Commerce Department was finalizing details for other chipmakers such as AMD and Intel to sell their technologies abroad.
Home Depot dipped 1.8% after it reaffirmed its guidance for 2025 and issued a tepid preliminary outlook for 2026 ahead of its investor day. The hardware store chain expects its profit per share to fall 6% this fiscal year.
CVS rose 2.7% af