Stock Market Today: Key Indices Decline as Nvidia's Momentum Dips
Stock Market Declines
As the stock market today resumes trading after the Labor Day holiday, U.S. stock futures indicate losses across the board. The Nasdaq fell 0.6%, while Dow and S&P 500 futures decreased by 0.5%.
Nvidia and Broadcom Under Pressure
Heavyweights Nvidia and Broadcom are major contributors to the declines, with Nvidia shares down 2.0% and Broadcom down 1.2% ahead of its earnings report. Market enthusiasm for chip stocks appears to be waning.
Monitoring Economic Data
Investors await key economic indicators this week, particularly the U.S. job report and ISM purchasing managers' data for August. The implications of these findings will be pivotal, especially with the Federal Reserve's upcoming interest-rate decision.
Market Analysts Weigh In
Francesco Pesole of ING predicts an important shift in economic momentum in response to manufacturing sector data.
Currently, the yield on the benchmark 10-year Treasury note stands at 3.914%, reflecting stable conditions compared to last week. Investors should remain vigilant as market dynamics evolve.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.