Wall Street Wobbles Amid Fed Rate Speculations and Nvidia's Anticipated Earnings

On Monday, Wall Street stocks fell as investors weighed the potential for U.S. interest rate cuts following recent economic indicators. Meanwhile, anticipation built over Nvidia's quarterly earnings report scheduled for this week, following a rally on Friday that pushed the Dow Jones Industrial Average to a new high.

Federal Reserve Chair Jerome Powell's remarks last Friday at the Jackson Hole Symposium, which hinted at a possible interest rate cut due to labor market weakness, prompted fluctuations in investor confidence. The upcoming release of the Fed's preferred inflation gauge and nonfarm payroll data are critical to gauging future monetary policy.

Nvidia's impending earnings report is highly anticipated, given its significant role in the AI sector and its 8% representation in the S&P 500. Meanwhile, key analysts have adjusted their expectations for a September rate cut, and market attention is focused on forthcoming comments from other Fed policymakers.

(With inputs from agencies.)