NVIDIA Disappoints Investors – US Market Wrap
Big tech edged lower in after hours trading following a disappointing revenue forecast from NVIDIA.
An exchange-traded fund tracking the Nasdaq 100 slipped 0.4% while shares of the world’s most valuable fell 3.8% in late trading after its outlook failed to meet expectations. That was offset by signs of demand for the company’s newest product line, Blackwell.
US Stocks had struggled to find footing in the run up to the results with the latest Ukraine-Russia tensions also weighing on sentiment. The S&P 500 ended the day little changed as did the Nasdaq 100 while the dollar strengthened. The technology-heavy gauge had fallen more than 1% intraday following Ukraine’s missile strikes on Russia.
Treasuries fell across the curve after an auction of 20-year bonds received a lukewarm reception, adding to the cautious tone on Wall Street.
Traders are also monitoring President-elect Donald Trump’s administration picks, especially his selection for the Treasury secretary role. Former Federal Reserve Governor Kevin Warsh and Apollo Global Management’s Marc Rowan are contenders, according to people familiar with the matter. Meanwhile, Trump tapped Cantor Fitzgerald LP Chief Executive Officer Howard Lutnick to lead file Commerce Department, a key role to facilitate his tariff and trade policies.
