U.S. stock index futures steadied on Monday evening after a mix of bargain buying and some positive economic data helped Wall Street mark a two-day rebound from correction territory. 

 But gains were limited amid caution before a Federal Reserve meeting this week, while investors were also awaiting more cues on artificial intelligence from Nvidia’s developer conference. 

Caution over President Donald Trump’s plans for more trade tariffs continued to weigh, as Trump warned that more duties will be imposed by April 2. 

But risk appetite took some support from chatter over a Russia-Ukraine ceasefire, with Trump set to speak to Russian President Vladimir Putin on Tuesday. 

S&P 500 Futures were flat at 5,732.25 points, while Nasdaq 100 Futures steadied at 20,035.25 points by 19:29 ET (23:29 GMT). Dow Jones Futures steadied at 42,231.0 points.

Fed meeting front and center

Investors were focused squarely on a two-day Fed meeting- which begins on Tuesday- for more cues on the economy and interest rates.

The central bank is widely expected to keep rates unchanged, and is expected to signal few changes amid sticky inflation and heightened uncertainty over the economic impact of Trump’s policies. 

Still, some signs of cooling in the labor market could push the Fed into softening its hawkish stance, as could growing speculation over a U.S. recession. 

Nvidia developer conference awaited 

NVIDIA Corporation (NASDAQ:NVDA) steadied in aftermarket trade following a 1.8% loss during Monday’s session.

The chipmaker was nursing heavy losses over the past month, as broader market sentiment soured, and as investors questioned just how much strength there remained in the AI trade amid increased market turmoil. Nvidia was trading down about 20% from its January record high.