Investors are digesting better-than-expected inflation data and bracing for the next move in Trump's escalating trade war.

Dow Jones futures fell modestly early Thursday, along with S&P 500 futures and Nasdaq futures. Trump tariffs remain in focus.The stock market had a mixed but mostly positive, Nasdaq-led session Wednesday buoyed by tame CPI inflation data.

Nvidia (NVDA) and chip stocks led a Nasdaq rebound in early morning trading on Wednesday. The Nasdaq Composite index gained more than 1% in early morning trading, following a February CPI report showing that inflation slowed more than expected last month.