Advertisment
Stocks faltered midday on Tuesday as investors looked ahead to a major earnings report later this week.
The Dow Jones Industrials dropped 67.07 points to begin Tuesday at 41,173.45
The S&P 500 index nicked ahead 0.1 points to 5,616.74
The NASDAQ backpedaled 8.72 points to 17,717.04.
Investors are eager to see earnings from top artificial intelligence beneficiary Nvidia after Wednesday’s closing bell. Shares of the graphics processing unit manufacturer fell nearly 1% on Tuesday. Nvidia has become a key bellwether for tech stocks and AI more broadly, and investors will look toward its second-quarter results to gauge the health of the AI trade.
Traders are unanimously forecasting a rate cut at the central bank’s Sept.17-18 policy meeting of at least 25 basis points.
Prices for the 10-year Treasury decreased, raising yields to 3.85% from Monday’s 3.82%. Treasury prices and yields move in opposite directions.
Oil prices sank $1.37 at $76.05 U.S. a barrel.
Gold prices slipped seven dollars to $2,548.20.
