The New York market is still hit by the January inflation data that removed the possibility of an imminent monetary relaxation by the Federal Reserve.
The main Wall Street indices They do not raise their heads this Tuesday after ending the week in decline due to the inflation data and the possibility that the interest rates of the Federal Reserve as soon as investors believed. In that context, S&P500 drill the 5,000 points and Nasdaq leads declines after chipmaker’s sharp decline Nvidia.
In that context, the Dow Jones Industrial Average loses 19.20 points, or 0.1%, to 38,608.79 units, while the S&P 500 falls 30.21 points, or 0.6%, to 4,975.36 units. He Nasdaq Composite down 186.66 points, or 1.2%, to 15,589.00 units.
Nvidia falls sharply and drags down the Nasdaq index
The Chipmaker shares fall more than 4%underperforming other large-cap stocks and weighing down the Nasdaq.
When investors return from the long weekend, results from chipmaker Nvidia will monopolize the spotlight after the markets close on Wednesday and will test the optimism about the potential of artificial intelligence (AI).
AI-powered betting helped Nvidia to become the third most valuable American company and recently replaced tesla As the Wall Street’s most traded stock.
The actions of Super Micro Computer They widened their losses to 6.2%, after ending with a 20% collapse on Friday, as investors stopped betting on value as a great beneficiary of the strong demand for AI technology.
Walmart reached an all-time high and climbed 5.9% after the US retail giant to forecast fiscal 2025 sales well above Wall Street expectations and will increase its annual dividend by 9%.
US inflation slows expectations of imminent rate cut
The US inflation data from last week, higher than expected, They curbed expectations of an imminent start of the Federal Reserve’s monetary easing cyclewhich stopped a sharp rise on Wall Street.
He rate cut expected in Juneaccording to a slim majority of economists surveyed by Reuterswho also pointed out the risk of a new delay in the first cut.
The Investors are awaiting the publication of the minutes of the Fed’s latest monetary policy meetingas well as the statements of a series of central bank authorities this week.
Source: Ambito
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