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Intuit gains after forecasting Q3 revenue above estimates

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GM rises on $6 billion buyback, higher dividend plan

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Futures up: Dow 0.28%, S&P 500 0.47%, Nasdaq 0.69%

(Updates with results from Lowe's)

By Johann M Cherian and Sukriti Gupta

Feb 26 (Reuters) - U.S. stock index futures moved higher

after several days of declines, as investors awaited Nvidia's ( NVDA )

results to gauge the direction of AI demand and focused on a

crucial tax-cut proposal's progress through Congress.

At 07:09 a.m. ET on Wednesday, Dow E-minis were up

121 points, or 0.28%, S&P 500 E-minis were up 28 points,

or 0.47%, and Nasdaq 100 E-minis were up 146.5 points,

or 0.69%.

Investors have been on edge since last week as a series of

data releases, including Tuesday's weak consumer sentiment

print, suggested the world's largest economy might be stalling,

even as sticky inflation keeps the Federal Reserve cautious

about lowering interest rates further.

Nvidia's ( NVDA ) quarterly results and forecasts, expected

after markets close, are likely to set the tone for Wall Street,

after low-cost AI models from China's DeepSeek rattled the

industry in January and raised questions around Big Tech's heavy

investments into the technology.

The benchmark S&P 500 and the Nasdaq logged

their biggest four-day declines since September on Tuesday,

mainly due to weakness in tech stocks, as an analyst report also

hinted at overcapacity in AI infrastructure.

Nvidia ( NVDA ) shares gained 2.1% in premarket trading, while peers

Broadcom ( AVGO ) and Advanced Micro Devices ( AMD ) added 1.9%

and 1.1%, respectively.

"Investors are very much used to seeing impressive results,

therefore the risk factors could reverse optimism from strong

results," said Ipek Ozkardeskaya, senior analyst at Swissquote

Bank.

"Add to that the fact that the market environment is not

ideal these days, Nvidia ( NVDA ) has the heavy task of lifting the

market mood this week. If it can not, the selloff in stocks

could accelerate despite the falling yields."

Megacaps such as Amazon.com ( AMZN ) and Alphabet

rose over 0.7% each, while Tesla rose 1.5%, a day after

the electric-vehicle maker's market value fell below $1

trillion.

On the fiscal front, President Donald Trump's $4.5 trillion

tax-cut and border security agenda will be sent to the U.S.

Senate after passing the Republican-controlled House of

Representatives.

Expectations that Trump's 2017 tax cuts would at least be

extended were among top boosts to investor sentiment after his

election win.

However, given broader economic uncertainty, futures

tracking the domestically-focused Russell 2000 index

inched up 0.3%, while yields on Treasury bonds recouped some of

Tuesday's declines.

Traders expect the Fed to deliver its first interest rate

cut in July, according to data compiled by LSEG. Remarks from

policymakers Thomas Barkin and Raphael Bostic, due later in the

day, are likely to reiterate the central bank's cautious stance.

In the latest on global trade, Trump ordered a probe into

potential new tariffs on copper imports, sending prices of the

red metal higher. Phoenix-based copper miner Freeport-McMoran ( FCX )

jumped 4.8%.

The U.S. and Ukraine also agreed on the terms of a draft

minerals deal as Trump seeks to rapidly end the war with Russia.

Lowe's added 3.6% after the retailer reported a

surprise rise in fourth-quarter same-store sales.

Intuit shares rose 8.2% after the TurboTax maker

forecast third-quarter revenue above Street estimates.

General Motors ( GM ) rose 4.5% as the automaker said it

would increase its quarterly dividend by 25% and undertake a new

$6 billion share buyback program.

(Reporting by Johann M Cherian and Sukriti Gupta in Bengaluru;

Editing by Devika Syamnath)