Tech stocks led the US indexes higher on Wednesday, eyeing a comeback as Wall Street braced for Nvidia's (NVDA) crucial earnings and assessed the prospects for President Trump's deep tax cuts.

The tech-heavy Nasdaq Composite ( ^IXIC ) led the advance, up around 0.4%, on the heels of consecutive sharp losses for the index . The benchmark S&P 500 ( ^GSPC ) rose about 0.3%, while the Dow Jones Industrial Average ( ^DJI ) added roughly 0.1%.

Investors are looking to Nvidia's quarterly results due after the bell to potentially lift stocks more broadly, given the AI bellwether's history of bullish reactions to earnings. But Nvidia's stock has lagged the S&P 500 so far this year, and the chipmaker's prospects face headwinds from Trump's tariff threats and export controls . Its shares rose around 3% in early trading, after sliding 2.8% on Tuesday .

In the meantime, investors eyed the narrow passage of Trump's tax and security measures in the House of Representatives, keeping the $4.5 trillion plan for deep tax cuts alive . Market concerns are growing about harm to the economy from Trump's policies , reflected in recent consumer confidence and other data.

In earnings before the bell, Lowe's ( LOW ) stock popped after the home improvement retailer posted a profit and revenue beat . General Motors' ( GM ) plan to up its dividend by 25% and begin a new $6 billion stock buyback helped lift its shares in early trade.

Elsewhere in corporates, Super Micro Computer ( SMCI ) stock surged after the data center server maker met a deadline to submit delayed regulatory filings and avoid a Nasdaq delisting.