US indexes moved mostly higher Tuesday morning, with investors looking to reverse the Nvidia-led drop.

The leading semiconductor firm shed $430 billion in the course of three days, after its briefly became the world's biggest company last week. During the sell-off that followed, the stock fell into correction territory.

With little fundamental news pushing the stock lower, analysts on Wall Street have said they see the rout from record highs as a profit-taking move by investors. Sentiment has remained largely bullish on the AI stalwart, and some have said that the drop is a buy-the-dip moment ahead of Nvidia's next earnings report.

"[T]here's since been a turnaround with some investors jumping in to boost long side exposure, taking advantage of the 17% sell-off between Thursday's high and this morning's low," Trade Nation senior market analyst David Morrison said.

This week, investors are also keeping track of Federal Reserve commentary from a roster of officials scheduled to speak, as well as the personal consumption expenditures data scheduled for Friday.

On Tuesday, Fed Governor Michelle Bowman highlighted that risks remain of an inflation rebound, and that interest rate cuts are not guaranteed this year.

"I remain willing to raise the target range for the federal funds rate at a future meeting should progress on inflation stall or even reverse," she said.