Stocks are set for a cautious open Thursday following Nvidia's highly-anticipated third quarter earnings report.

Investors aren’t exactly running scared, but they are definitely becoming more fearful. Geopolitical risks have given cause for concern this week, particularly after Russia updated its nuclear doctrine.

An index of global stocks edged higher in choppy trading on Thursday as markets digested lackluster revenue forecasts from artificial-intelligence chipmaker Nvidia, while oil prices climbed amid rising tension from the Russia-Ukraine war.