Nvidia Dips Ahead of Earnings as S&P 500 Retreats, Investors Eye Inflation Data
The S&P 500 retreated from near-record highs on Monday, as Nvidia dipped ahead of its quarterly report. Investors await inflation data for clues about the Federal Reserve's interest rate path. Wall Street's rally in AI-related stocks faces potential disruption, while the energy sector rose due to oil supply concerns.
The S&P 500 retreated from near-record highs on Monday, as AI heavyweight Nvidia dipped ahead of its quarterly report. Investors are eagerly awaiting inflation data, seeking clues about the Federal Reserve's forthcoming interest-rate cuts.
Nvidia fell 2.6% before its Wednesday report, which is anticipated to be a major event. Some investors fear a lackluster forecast from Nvidia could undermine Wall Street's rally in AI-related stocks.
Elsewhere, PDD Holdings saw a 29% plunge after missing second-quarter revenue expectations. The Nasdaq and Dow Jones Industrial Average also declined. Reports of oil supply disruptions caused a 1% spike in the energy sector. Investors look to the upcoming Personal Consumption Expenditure data for further insight into inflation and policy easing.
(With inputs from agencies.)
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