(Finance) – Weak session for the US stock market, which trades with a 0.50% drop on Dow Jonesbreaking the positive chain of three consecutive increases, which began last Friday; along the same lines, theS&P-500which falls back to 5,590 points. Down the Nasdaq 100 (-1.12%); on the same trend, in red theS&P 100 (-0.76%).
Investors’ eyes are on Nvidia’s stock and its quarterly results today. The results, to be released tonight after markets close, by the American tech giant that has become the face of the AI boom, are being used by industry insiders as a litmus test for assessing the state of AI investment.
In the background, the focus remains on macroeconomic data while the market is in favor of the probability that the Federal Reserve will reduce interest rates at its September meeting.
In the S&P 500, no sector is saved. In the list, the worst performances are those of the sectors informatics (-1.25%), secondary consumer goods (-1.14%) and energy (-0.92%).
Among the best Blue Chips of the Dow Jones, Merck (+0.87%), Amgen (+0.86%) and Johnson & Johnson (+0.59%).
The strongest sales, however, are seen on Nikewhich continues trading at -3.08%.
The negative performance of stands out Intelwhich falls by 2.12%.
Cisco Systems drops by 2.05%.
Sharp drop for Walt Disneywhich marks a -1.9%.
Among the Nasdaq 100 protagonists, Gilead Sciences (+2.44%), Vertex Pharmaceuticals (+2.31%), O’Reilly Automotive (+1.61%) and Verisk Analytics (+1.47%).
The worst performances, however, are recorded on PDD Holdingswhich gets -6.59%.
It goes down Lululemon Athleticawith a decrease of 4.71%.
It collapses MicronTechnologywith a decrease of 4.23%.
Under pressure Starbuckswith a sharp decline of 3.18%.
Among the macroeconomic quantities most important US markets:
Wednesday 28/08/2024
4:30 PM USA: Oil inventories, weekly (expected -2.7 Mln barrels; prev. -4.65 Mln barrels)
Thursday 29/08/2024
2.30pm USA: Wholesale Inventories, Monthly (expected 0.2%; prev. 0.2%)
2.30pm USA: GDP, quarterly (expected 2.8%; prev. 1.4%)
2.30pm USA: Unemployment claims, weekly (expected 234K; prev. 232K)
4:00 PM USA: Home sales in progress, monthly (expected 0.2%; prev. 4.8%).