Stocks in the US closed lower on Monday as investors took a breather from last week's powerful rally and turned their focus to Nvidia's highly anticipated earnings report due Wednesday.
The S&P 500 slipped 0.3% and the Dow Jones fell 349 points after last week's record-setting surge, and the Nasdaq 100 finished 0.4% lower. Consumer staples, health and utilities sectors dragged the most.
Nvidia, which accounts for 8% of the S&P 500 rose 1%, while Intel shares lost 1% after news that the US government had taken a 10% stake in the company, part of a broader Trump administration push for a sovereign wealth fund.
Investors also kept an eye on upcoming economic data, including Friday's PCE inflation report, the Fed's preferred gauge, which is expected to show core inflation rising to 2.9%. Meanwhile, rate-cut expectations remain elevated, with traders pricing in about an 86% chance of a September move following Powell's dovish Jackson Hole remarks.
Source: Trading Economics
European markets closed lower on Monday as investors assessed the economic outlook following signals from Federal Reserve Chairman Jerome Powell that interest rate cuts may be coming soon. The pan-Eu...
U.S. equities fell slightly on Monday after the Dow Jones Industrial Average catapulted to intraday and closing records, and as investors looked ahead to Nvidia earnings. The 30-stock Dow dropped 121...
European markets were lower to start the new trading week Monday as investors assessed the economic outlook after hopes of a Federal Reserve interest rate cut were boosted Friday. The pan-European St...
Asia-Pacific rose Monday, tracking Wall Street gains after Federal Reserve Chair Jerome Powell signaled that the central bank could begin easing monetary policy next month in his widely anticipated an...
US stocks soared on Friday after Fed Chair Powell signaled the possibility of a September rate cut during his Jackson Hole speech, sparking the strongest cross-asset rally since April. The S&P 50...
Federal Reserve (Fed) Bank of Dallas President Lorie Logan mused about making key policy adjustments at the Fed on Monday, stressing the need for more effective policy communication.The US has more room to reduce reserves.Responding to banks'...
The dollar advanced against major currencies on Monday, bouncing from a steep fall last week that followed remarks from Federal Reserve Chair Jerome Powell that boosted expectations for a rate cut next month. The dollar index, which measures the...
U.S. President Donald Trump expressed his desire to meet with North Korean leader Kim Jong Un this year. Speaking to reporters on Monday before a meeting with South Korean President Lee Jae Myung at the White House, Trump highlighted his...
Asia-Pacific rose Monday, tracking Wall Street gains after Federal Reserve Chair Jerome Powell signaled that the central bank could begin easing...
European markets were lower to start the new trading week Monday as investors assessed the economic outlook after hopes of a Federal Reserve...
Israeli strikes on Nasser hospital in Gaza on Monday killed at least 15 people, including four journalists, one of whom worked for Reuters,...
Sales of new single-family homes in the United States eased by 0.6% from the previous month to a seasonally adjusted annualized rate of 652,000...