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Wall Street declines as traders await Nvidia earnings

Wall Street ends lower as investors weigh Nvidia earnings and Fed interest rate outlook following Friday’s record high close

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3 weeks ago

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Wall Street ends lower as investors weigh Nvidia earnings and Fed interest rate outlook following Friday’s record high close

In Short:
– Wall Street stocks fell as traders evaluated U.S. interest rates and awaited Nvidia’s earnings report.
– The S&P 500 declined 0.43%, with Keurig Dr Pepper dropping 11.5% after its acquisition announcement.
Wall Street stocks closed lower on Monday as traders assessed the outlook for U.S. interest rates while anticipating Nvidia’s quarterly earnings.
The Dow Jones Industrial Average surged to a record high on Friday following comments from Federal Reserve Chair Jerome Powell regarding potential interest-rate cuts.”The market has a Jackson Hole hangover,” stated Jake Dollarhide, CEO of Longbow Asset Management. Investors appear cautious after the recent rally, taking a moment to assess market conditions.

Analysts expect crucial economic data, including the Personal Consumption Expenditures Price Index, which may influence Fed decisions.

Market Focus

Traders are particularly attentive to Nvidia, as its results are vital for the AI sector.

The company accounts for around 8% of the S&P 500, impacting many American retirement savings.

Analysts predict an 84% chance of a Fed rate cut in September following Powell’s recent speech.

The S&P 500 dropped 0.43% to 6,439.32 points, with declines across major sectors.

Keurig Dr Pepper fell 11.5% after announcing a significant acquisition. Overall market volume remained low, underscoring cautious trading behaviour.



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