Wall Street's Oscillation Amid Retail Shuffles and AI Mania
Wall Street remained unsteady, following a tech decline with modest changes across major indexes. Target's leadership changes and weak sales impacted its stocks, while Lowe's outperformed expectations. Investors await Federal Reserve speeches for potential interest rate insights. Global markets showed varied performances amid geopolitical and economic challenges.
Wall Street held relatively steady following a wave of volatility in the technology sector, driven by declines in stocks like Nvidia. The S&P 500 saw a modest decrease of 0.1% in early trading, marking its third consecutive loss after recently achieving a record high.
Significant attention was focused on Target's announcement of CEO Brian Cornell stepping down, impacting its stock by a 9% drop. In contrast, Lowe's reported impressive quarterly earnings, leading to a 3.4% increase in its stock price.
Investors eagerly anticipate Friday's address from Federal Reserve Chair Jerome Powell, hoping for signs of potential interest rate cuts amid mixed economic signals both domestically and internationally.
(With inputs from agencies.)
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