Live Markets: Wall Street's case of pre-Nvidia jitters

VAT AG

27/08/2024 21:13

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      S&P 500, Nasdaq post modest advances; Dow ekes out nominal gain
    

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      Tech up most among S&P sectors; Energy biggest laggard
    

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      Dollar off; gold inches up; crude, bitcoin both down >2%
    

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      10-Year U.S. Treasury yield edges up to ~3.83%
    

  
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    WALL STREET'S CASE OF PRE-NVIDIA JITTERS
    U.S. stocks edged higher in a light volume, late summer session on Tuesday, with a scarcity
of catalysts leaving investors in the doldrums.
    The S&P 500 closed within one percent of its record closing high reached on July 16, and in
doing so joined the Nasdaq in posting modest gains at the conclusion of the range-bound session.
    The blue-chip Dow crossed the finish line barely green, but that was enough to nab a second
consecutive all-time closing high.
    Market participants appeared reticent to take much of a stand ahead of Nvidia  NVDA.O 
earnings.
    The artificial intelligence chipmaker is widely considered the de facto mascot of a
technology still in its infancy, so disappointing quarterly results or a cautious outlook from
the company could reverberate across a range of megacap growth stocks that have benefited most
from the AI frenzy.
    Among those stocks, the so-called "Magnificent 7," Nvidia logged the biggest percentage gain
of the day, advancing 1.5%. Amazon.com  AMZN.O  and Tesla  TSLA.O , on the other hand, have had
better days. They both slid more than 1%.
    A larger-than-expected uptick in August consumer confidence helped the major indexes
overcome their initial funk. The report from the Conference Board showed near-term expectations
brightening even as its survey respondents' view of the employment picture dimmed a bit.
    The day's outperformers included chips  .SOX  and commercial airlines  .SPCOMAIR , while
housing  .HGX  and energy stocks  .SPNY  fared relatively poorly.
    Here's your closing snapshot:
    (Stephen Culp)
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    FOR TUESDAY'S OTHER LIVE MARKETS POSTS 
    BITCOIN TRUMPS ETHER IN ETF FLOWS CLICK HERE
    RECORD HIGHS WITHOUT BIG TECH LEADERSHIP CLICK HERE
    TWO-FER TUESDAY: CONSUMER CONFIDENCE, CASE-SHILLER CLICK HERE
    WALL STREET DE-RISKS AHEAD OF NVIDIA EARNINGS CLICK HERE
    GLIMMER OF HOPE FOR LIMPING GERMAN ECONOMY CLICK HERE
    AUTO PARTS SUPPLIERS POSE INVENTORY RISK FOR EU SEMIS CLICK HERE
    GERMAN AUTOS - POP GOES THE DIESEL CLICK HERE
    MINERS AND AIRLINES LIFT STOXX CLICK HERE  
    LACKLUSTRE START IN STORE FOR EUROPE CLICK HERE
    RATE CUT RELIEF DOUSED BY GEOPOLITICS CLICK HERE

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Closing snapshot    https://reut.rs/4e3ROs5
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