U.S. stock futures slipped Wednesday as investors looked ahead to the widely-anticipated release of Nvidia’s latest earnings report. Dow Jones Industrial Average futures inched lower by 88 points, or 0.2%. Futures tied to the S&P 500 slipped 0.2%, while Nasdaq 100 futures were marginally lower. Target shares fell around 7% on weaker-than-expected earnings, with management citing weaker spending trends in discretionary categories. The retailer’s troubles raised broader concerns about the health of the consumer. Nvidia is slated to post fiscal first-quarter results after the bell Wednesday, with analysts expecting another strong quarter from the chipmaker. LSEG data shows consensus estimates call for earnings and revenue to have rise 400% and 240% year on year. Investors will closely watch the report for clues on whether this year’s tech rally can continue. The tech-heavy Nasdaq Composite has popped 12% to record highs year to date. And while the market rally has the potential to broaden beyond tech, it will be important that the earnings season wrap up on a strong note, according to Charles Schwab chief investment strategist Liz Ann Sonders. “We do need earnings to continue to come in well, because last year was all about multiple expansion without any benefit from earnings,” she said on CNBC’s “Closing Bell” Tuesday afternoon. “I think earnings do need to continue to catch up to where multiples are.” Traders will also watch out for minutes from the latest Federal Open Market Committee meeting, as well as April’s existing home sales. Urban Outfitters gained 6% after the clothing retailer posted beats on the top and bottom line in its latest quarter. Homebuilder Toll Brothers inched higher by 1% after surpassing analysts’ estimates and raising its full-year delivery guidance. The S&P 500 and Nasdaq are coming off of record setting sessions, while the Dow rose slightly. U.S. Treasury yields were higher on Wednesday as investors considered the latest comments from Federal Reserve speakers about the outlook for inflation and interest rates. At 7:30 a.m. ET, the 10-year Treasury yield was up by around 3 basis points at 4.443%. The 2-year Treasury yield was last at 4.863% after also rising by three basis points. Asia-Pacific markets close mixed with mainland China stocks bucking the trend on Wednesday, following a slew of economic data out of Japan. Most Asian markets were lower. Japan’s Nikkei 225 closed 0.85% lower at 38,617.1, in spite of a slight improvement in business sentiment, with the Reuters Tankan non-manufacturing index coming in at +26. South Korea’s benchmark index Kospi slipped 0.03% to close at 2,723.46, while Hong Kong’s Hang Seng index lost 0.2% in the final hour of trade. Mainland China’s CSI 300, which includes the largest blue-chips trading in Shanghai and Shenzhen, was up 0.23% to close at 3,684.45. In Australia, the S&P/ASX 200 closed flat at 7,851.9. New Zealand’s S&P/NZ50 inched up 0.14% to close at 11,692.6 after the Reserve Bank of New Zealand held official cash rate unchanged at 5.5% for the seventh consecutive time. Oil prices fell for a third straight session on Wednesday on expectations the Federal Reserve could keep U.S. interest rates higher for longer due to sustained inflation, potentially impacting fuel use in the world’s largest oil consumer. Brent crude futures were down 43 cents, or 0.5%, to $82.45 a barrel. U.S. West Texas Intermediate crude (WTI) futures slipped 50 cents, or 0.6%, to $78.16. Oil prices settled about 1% lower on Tuesday. Gold prices slipped on Wednesday as investors strapped in for minutes from the Federal Reserve’s most recent policy meeting for further insights on the timeline for interest rate cuts. Spot gold eased by 0.3% at $2,413.96 per ounce, as of 1127 GMT. Prices had scaled a record high of $2,449.89 on Monday. U.S. gold futures were down 0.3% at $2,417.60.