U.S. stock futures are lower as investors waited for artificial intelligence chip darling Nvidia's earnings after the bell.

U.S. stock index futures slipped on Wednesday after a sharp rally in the previous session, when easing tariff tensions boosted sentiment, as investors focused on AI bellwether Nvidia's upcoming earnings and developments on the trade front.

Futures extended gains after the U.S. Court of International Trade ruled on Wednesday that Trump did not have the authority to impose his sweeping “liberation day” tariffs, ramping up hopes that the tariffs will not come into effect from an early-July deadline.