U.S. stock futures were little changed on Tuesday night as traders looked ahead to the release of Nvidia‘s first-quarter earnings report.

S&P 500 futures and Nasdaq 100 futures were trading around flat. Futures tied to the Dow Jones Industrial Average fell marginally lower.

Rising bond yields pressured stocks on Tuesday, causing the S&P 500 and Nasdaq Composite to both post their third losing sessions in a row. The broad market index fell 0.67%, while the technology-heavy Nasdaq shed 0.84%. The blue-chip Dow Jones Industrial Average lost 322.24 points, or 0.65%.

On Tuesday, the 30-year U.S. Treasury yield briefly topped 5.19%, marking its highest level in nearly 19 years. The 10-year Treasury yield at one point hit 4.687% to reach its highest level since January 2025. Rates have spiked in recent days after a series of economic reports last week revealed that inflation may be reigniting.

Investors are turning their attention toward Nvidia, which reports its first-quarter earnings after Wednesday’s closing bell. The report will be an important view into the artificial intelligence trade and provide the latest update on demand for chips.

Ben Snider, chief U.S. equity strategist at Goldman Sachs, noted that the chipmaker and AI darling has contributed about 20% of the S&P 500’s returns this year and almost that much of the broad market index’s earnings growth in 2026.

“So, the numbers they report tomorrow matter. More broadly, of course, investors across the Street — and really across asset classes — look to Nvidia as a signal for where the AI infrastructure buildout is going, and we’ll be watching closely,” Snider said on CNBC’s “Closing Bell” on Tuesday afternoon.

Traders are also expecting the minutes from the Federal Reserve’s April meeting, which are due on Wednesday at 2:00 p.m. ET.

Lowe’s, Target, Hasbro, V.F. Corporation, Analog Devices and TJX will report their earnings before Wednesday’s opening bell.