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Dow Jones futures remain steady near 45,500 during European hours on Wednesday, ahead of the opening of the United States (US) regular markets. Moreover, the S&P 500 futures and the Nasdaq 100 futures hold ground near 6,480 and 23,590, respectively.

US stock futures move little as traders adopt caution ahead of Nvidia’s earnings release. Expectations are elevated, with Nvidia Corporation (NVDA) shares having gained almost 34% year-to-date. After hours, MongoDB (MDB) +30% and OKTA +5% on AI-driven demand; Cracker Barrel +7% after scrapping logo amid backlash.

In the previous regular US session, the Dow increased 0.3%, the S&P 500 grew 0.41% and the Nasdaq Composite rose 0.44%. US stock markets gained ground as traders digested the escalating feud between US President Donald Trump and the Federal Reserve (Fed).

Fed Governor Lisa Cook is expected to file a lawsuit challenging her removal by President Trump. Trump said, at a Cabinet meeting Tuesday, that he would abide by the court’s decision but signaled little concern over Cook’s challenge.

Stock markets may receive further support as the dismissal of Fed Governor Cook could increase the likelihood of heavy interest rate cuts, given Trump’s ongoing pressure on the central bank to reduce borrowing costs.

The CME FedWatch tool indicates pricing in more than 87% odds for a cut of at least a quarter-point at the Fed’s September meeting, up from 84% previous day. The upcoming release of the Q2 US Gross Domestic Product Annualized and July Personal Consumption Expenditures Price Index data will be eyed later this week.

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