Looming Nvidia Earnings Drive Quiet Premarket Action for US Equity Futures

08:50 AM EDT, 08/27/2024 (MT Newswires) -- US equity futures were slightly lower ahead of Tuesday's opening bell as traders shifted their focus to the upcoming earnings report of chipmaker Nvidia (NVDA) due later in the week.

The Dow Jones Industrial Average futures slipped 0.2%, S&P 500 futures declined 0.1%, and Nasdaq futures edged 0.1% lower.

Nvidia is scheduled to release its quarterly earnings on Wednesday.

Oil prices fell, with front-month global benchmark North Sea Brent crude down 0.8% at $79.72 per barrel and US West Texas Intermediate crude 1% lower at $76.62 per barrel.

The Case-Shiller home price index and the Federal Housing Finance Agency house price index are scheduled for release at 9 am ET.

The Consumer Confidence Index, due at 10 am ET, is expected at 100.9 in August versus July's 100.3, according to estimates compiled by Bloomberg.

In other world markets, Japan's Nikkei closed 0.5% higher, Hong Kong's Hang Seng ended 0.4% higher, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 rose 0.3% and Germany's DAX index increased 0.5% in Europe's early afternoon session.

In equities, shares of JD.com (JD) were 3.4% higher pre-bell after the company's board approved a $5 billion share buyback program. Trinity Biotech (TRIB) shares soared 53% after the company raised its 2024 revenue guidance.

On the losing side, Paramount Global (PARA) shares dropped 4.6% after media veteran Edgar Bronfman Jr. dropped his group's takeover bid for the company. Cava Group (CAVA) shares fell 8% after disclosing that Artal International reduced its stake in the company.