Market Volatility Ahead: Nvidia Earnings and Fed Speech Loom
The US stock market experienced a mixed finish on Monday as investors await several key events scheduled for later in the week.
The S&P 500 slipped 0.3% and moved further away from its all-time high set earlier this month, while the Dow Jones Industrial Average added 140 points or 0.3%, and the Nasdaq composite fell 0.8%.
Shares of tech giants Nvidia, Micron Technology, and Broadcom led the downward trend after big swings throughout the summer due to concerns that AI technology prices have become too high and may not be sustainable if they don't produce enough profits.
Nvidia sank 2.9% and was the heaviest weight on the S&P 500 where most stocks rose. The company will release its latest quarterly earnings report on Wednesday, which could dictate the next big move for AI-related stocks.