On Tuesday, US indexes saw a slight rise as Nvidia reversed a three-day selloff. During this period, Nvidia shares had fallen nearly 17%, providing an opportunity for long investors to buy. The leading semiconductor company lost $430 billion in three days after briefly becoming the world’s largest company last week. Wall Street analysts attributed the decline to profit-taking by investors rather than any fundamental news.
Investors are also keeping a close eye on comments from the Federal Reserve from a slate of officials scheduled to speak, as well as personal spending data scheduled for Friday. Fed Governor Michelle Bowman highlighted the risks of a rebound in inflation and noted that interest rate cuts are not guaranteed this year.
This week, investors are also watching for comments from the Federal Reserve from a slate of officials scheduled to speak, as well as personal spending data scheduled for Friday. Fed Governor Michelle Bowman highlighted the risks of a rebound in inflation and noted that interest rate cuts are not guaranteed this year.
West Texas Intermediate crude was down 0.39% at $80.93 a barrel, while Brent crude, the international benchmark, was down 0.36% at $86.08 a barrel. Gold fell 0.42% to $2,323.60 an ounce and the 10-year Treasury yield rose to 4.25%. Bitcoin remained relatively stable at $61,105