Nuttall was left out of Blackpool's squad last night for the Carabao Cup penalty shootout defeat to Macclesfield Town after picking up a knock in training.
Spearing, meanwhile, was substituted with 15 minutes remaining with an injured shoulder after being clattered into by a Macclesfield player.
Both knocks aren't thought to be too serious but Grayson says a decision won't be made on their availability for this weekend until further assessments are made.
“Joe's calf was a little bit tight during training so as a precaution we left him out as we didn’t want to make it worse," Grayson said.
“Curtis Tilt (who was also left out) was fine, we just decided to give him a rest.
“But we will assess everybody else and see how they are for Saturday.
“Jay knocked his shoulder, which was a bit of a naughty challenge to be fair which saw him fall awkwardly.
“There will be some players who will be assessed over the coming days.
“In an ideal world I’d have liked to have given Sullay (Kaikai) a breather like we did with Delf (Nathan Delfouneso, who started on the bench), but when you’re down in a game you want your best players on the pitch.”
Posting on Twitter this morning, Spearing said: "The performance didn't deserve that result!
"Hoping I'll be okay for the weekend."