Investing.com-- U.S. stock index futures rose slightly on Tuesday evening with focus squarely on earnings from artificial intelligence major Nvidia, with sentiment upbeat on some trade tariff deescalation and positive consumer data.

Futures steadied after a stellar session on Wall Street, as investors cheered President Donald Trump’s delaying of steep trade tariffs against the European Union, while stronger-than-expected consumer confidence data pointed to resilience in the economy.

Technology stocks also courted heavy buying before Nvidia’s earnings, which are likely to act as a bellwether for the sector. Analysts expect another strong quarter from the chipmaker.

S&P 500 Futures rose 0.1% to 5,939.75 points, while Nasdaq 100 Futures rose 0.1% to 21,476.75 points by 19:14 ET (23:14 GMT) Dow Jones Futures rose 0.1% to 42,465.0 points.

Nvidia Q1 earnings awaited for more AI cues; shares surge

NVIDIA Corporation (NASDAQ: NVDA ) is set to report its first-quarter earnings after the bell on Wednesday, with analysts expecting a strong print.

Shares of the AI major surged 3.2% on Tuesday and were flat in after-hours trade.

Nvidia is forecast to post earnings per share of $0.893 on revenue of $43.12 billion for the three months to April 31, both up substantially from last year, Investing.com data showed.

The chipmaker is expected to have benefited from outsized domestic demand, especially as its biggest customers– Wall Street’s so-called AI hyperscalers– continued spending billions on building more data center capacity.

But focus will be on Nvidia’s outlook, which is likely to set the tone for the tech industry going forward in 2025. Investors will also be watching for comments on Nvidia’s China sales, as the company grapples with more U.S. export controls and increased competition in the country.

CEO Jensen Huang recently criticized the U.S. export restrictions, calling them a "failure," and also forecast China becoming a $50 billion market in the coming years.

Wall St rises on Trump tariff delay, strong consumer sentiment

Wall Street clocked strong gains on Tuesday, after Trump’s delaying of 50% tariffs against the EU boosted risk appetite. Trump’s move– which is another instance of the president flip-flopping on his tariff plans– spurred bets that he will not deliver on his agenda of imposing steep reciprocal trade tariffs in July.

Sentiment was also boosted by substantially stronger than expected consumer confidence data for May, which rebounded after five months of declines.

The rebound also comes following a deescalation in trade tensions between the U.S. and China, and as Trump’s administration attempts to reach trade deals with several major economies.

The S&P 500 rose 2.1% to 5,921.54 points, while the NASDAQ Composite surged 2.5% to 19,199.16 points on Tuesday. The Dow Jones Industrial Average rose 1.8% to 42,343.65 points.