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Futures: Dow flat, S&P flat, Nasdaq down 0.14%

May 21 (Reuters) - U.S. index futures were muted on

Tuesday, as investors refrained from placing big bets before AI

chip leader Nvidia's ( NVDA ) earnings this week and amid policy caution

from Federal Reserve officials ahead of the central bank's

meeting minutes.

Rate-setters have offered few clues on the timing for rate

cuts this year and several Fed officials on Monday refrained

from noting inflation moderating to the 2% target despite recent

data pointing to easing consumer price pressures.

That weighed on market sentiment, with investors now

awaiting remarks during the day from officials including

Christopher Waller, Thomas Barkin, Raphael Bostic and Michael

Barr ahead of the Fed's latest policy meeting minutes on

Wednesday.

Technology stocks kicked off the week on a strong note,

driving the tech-heavy Nasdaq to its highest closing

level on Monday while the S&P 500 inched closer to its

all-time high hit last week.

Nvidia's ( NVDA ) quarterly earnings on Wednesday are also

in focus, likely to be a significant market trigger and a litmus

test for the success of the generative AI boom.

Data from options analytics firm Trade Alert showed Nvidia's ( NVDA )

options are primed for an 8.7% swing in either direction by

Friday, translating to a market cap swing of $200 billion.

"In Nvidia's ( NVDA ) case, the confidence around the artificial

intelligence boom is more than just hype... It has real

substance," said Derren Nathan, head of equity research,

Hargreaves Lansdown

At 5:28 a.m. ET, Dow e-minis were up 3 points, or

0.01%, S&P 500 e-minis were down 0.5 points, or 0.01%,

and Nasdaq 100 e-minis were down 27 points, or 0.14%.

Among other individual movers, Palo Alto Networks ( PANW )

dropped 7.9% in premarket trading after its fourth-quarter

billings forecast disappointed investors.

Peloton Interactive ( PTON ) fell 2.8% as the fitness

equipment maker was looking to refinance its debt to regain its

footing amid falling sales.

U.S.-listed shares of Li Auto lost 4.5% after the

Chinese firm postponed plans to launch pure electric SUV models

to next year.

(Reporting by Ankika Biswas in Bengaluru; Editing by Devika

Syamnath)