Wall Street Awaits Nvidia's Earnings Amid Mixed Market Signals
Wall Street stocks experienced mixed results on Monday as investors await Nvidia's quarterly earnings and analyze market trends influenced by recent economic signals. Jerome Powell's remarks at Jackson Hole sparked speculation on potential interest-rate cuts, leading traders to anticipate policy shifts at the upcoming Federal Reserve meeting.
Wall Street investors are closely monitoring Nvidia's impending quarterly earnings report, while stocks showed mixed performance on Monday. The anticipation follows a Friday rally that lifted the Dow Jones Industrial Average to record highs.
Jerome Powell's comments at the Jackson Hole Symposium suggested potential interest-rate cuts, prompting major brokerages like Barclays and Deutsche Bank to expect a 25-basis-point reduction. Traders largely foresee such a move at the central bank's September meeting, according to CME Group's FedWatch tool.
Nvidia's report is crucial, given its significant influence on the S&P 500 and retirement savings invested through index funds. Meanwhile, market focus also shifts to upcoming economic indicators, including the Fed's preferred inflation gauge, as well as labor market reports.
(With inputs from agencies.)
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