The market’s on Nvidia-and-Fed watch

Morning market mood: nervous, caffeinated, and waiting

Stock futures are higher this morning after major indexes stumbled for three straight sessions. So yes, the market is trying to exhale — but it’s also staring straight at a stack of catalysts that could yank it right back into chaos.

Nvidia is the main event

If the market had a prom king, it would probably be Nvidia right now. The AI chip giant reports after the close, and investors are treating it like a referendum on the entire AI trade. Strong numbers could give the broader market a much-needed shot of adrenaline. A miss? Let’s just say the air would get very thin very fast.

Retail is still doing its thing

Meanwhile, Lowe's, Target, and TJX all reported this morning, keeping the retail tape busy. That matters because these names can tell you a lot about how shoppers are behaving when prices are still sticky and wallets are still doing a little emotional damage control.

The Fed is also lurking in the background

As if Nvidia weren’t enough, the Federal Reserve’s April meeting minutes are due out this afternoon. Investors will be scanning every line for clues on how officials are thinking about inflation, rates, and whether the “higher for longer” vibe is still alive and well.

Big picture

This is one of those days when the market is basically being asked to juggle flaming torches while riding a bike. Nvidia can steer the AI trade, the Fed minutes can move rate expectations, and retail earnings can tell you whether consumers are still spending or just pretending to be fine.