Stocks Slip as Focus Turns to Nvidia, Fed Speeches – Europe Market Wrap

Global shares fell on Tuesday as investors stayed on the sidelines ahead of Nvidia’s results and a spate of Federal Reserve governors’ speeches.

The Stoxx 600 index fell 0.4%, with manufacturer GSK among the losses as it faces a whistleblower case that may cost billions of dollars. Futures for the S&P 500 and Nasdaq 100 were little moved. Palo Alto shares fell up to 8.5% in premarket trade in New York after the security software business gave a dismal quarterly billings projection.

Investors were vigilant as commodities prices for gold, silver, and copper hovered near all-time highs. So far, the commodities spike has failed to undermine expectations that inflation would continue to fall, allowing the Federal Reserve and other major central banks to slash interest rates this year.

The key focus for markets right now is Nvidia, which has driven a significant portion of the S&P 500’s recent results. Nvidia’s stock, which has increased by more than 90% this year, climbed 2.5% in New York on Monday, bringing the Nasdaq 100 index to another new high.