Nvidia's replacing Intel on the Dow has been a long time coming. Intel has been the only pure-play semiconductor stock on the Dow, but the industry has taken on increasing importance in the AI era, and nearly every chip stock has soared -- with the notable exception of Intel.

Stock futures pointed lower early Tuesday as the Trump rally continued to stall ahead of Nvidia’s eagerly-anticipated earnings. Futures on the S&P 500 fell 0.1%, Dow Jones Industrial Average futures were also 0.

Stocks turned in a mixed performance on Tuesday as geopolitical tensions weighed on sentiment, while investors digested earnings reports from major retailers and awaited Nvidia's results tomorrow.