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Futures up: Dow 0.23%, S&P 500 0.46%, Nasdaq 0.77%

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

on Wednesday, rebounding from steep losses in the previous

sessions, as investors focused on the progress of a highly

anticipated tax-cut plan through Congress and awaited crucial

results from AI powerhouse Nvidia ( NVDA ).

At 05:36 a.m. ET, Dow E-minis were up 101 points,

or 0.23%, S&P 500 E-minis were up 27.75 points, or

0.46%, and Nasdaq 100 E-minis were up 163.5 points, or

0.77%.

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.

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 some analysts hinted at

the industry's overcapacity and overspending on artificial

intelligence.

AI bellwether Nvidia's ( NVDA ) quarterly results and

forecasts, expected after markets close, are likely to set the

tone for Wall Street, a month after low-cost AI models from

China's DeepSeek rattled the industry in January.

The stock gained 2.6% in premarket trading, while peers

Broadcom ( AVGO ) and Advanced Micro Devices ( AMD ) added 2.3%

and 1.5%, respectively.

Megacaps such as Amazon.com ( AMZN ) and Alphabet

rose 0.9% each, while Tesla rose 1.8%, a day after the

electric vehicle maker's market value fell below $1 trillion.

"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."

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 0.2%, 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 4.88%.

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.

Workday jumped 11.7% after the human capital

management firm beat expectations for fourth-quarter revenue.

Intuit shares rose 8% after the TurboTax maker

forecast third-quarter revenue above Street estimates.