Wall Street is set to open higher on Wednesday, led by a rebound in chip stocks ahead of Nvidia's quarterly earnings.
Nvidia, the world's most valuable company, rose 1.7% in premarket trading. Investors see its results as a key test of AI demand.
"There's a lot riding on Nvidia," said Chris Beauchamp of IG Group. The broader chip sector also advanced: Marvell up 4.7%, Intel up 4.8%, Micron up 3.4%.
Dow E-minis rose 184 points (0.37%), S&P 500 E-minis up 30.5 points (0.41%), and Nasdaq 100 E-minis up 215.5 points (0.75%).
Recent bond market selloffs pushed yields higher. The 10-year Treasury yield eased to 4.635% on Wednesday.
Traders increased bets on a Fed rate hike. Brent crude fell 2% to $109.14. Fed meeting minutes are also due.
Among movers, TJX gained 3.5%, Target rose 1.5%, and Lowe's dipped 2%.
