US Stock Market Ends Mixed as Nvidia Earnings Loom and Fed Speech Approaches

The US stock market ended Monday in a mixed bag, ahead of several significant events that could have a major impact on stocks and bonds.

The S&P 500 index slipped 0.3% and retreated from its all-time high set earlier this month, while the Dow Jones Industrial Average added 140 points or 0.3%. The Nasdaq composite fell 0.8%, dragged down by tech stocks like Nvidia, Micron Technology, and Broadcom.

Nvidia's quarterly earnings report on Wednesday is expected to be a major factor in determining the next move for AI-related stocks. The company has been a big winner of the AI boom but may struggle to sustain profits if it doesn't produce enough revenue.

The bond market, meanwhile, saw Treasury yields ease slightly after the US Treasury Department announced a surprise move last week to increase planned buybacks of Treasurys. However, analysts warn that this move may have only a limited effect and won't address the fundamental problems of high debt for the US government.

The Federal Reserve's new chairman, Kevin Warsh, is set to deliver a speech at an economic symposium in Jackson Hole, Wyoming on Friday, which could be a key indicator of the Fed's next move on interest rates.