Nvidia's China Uncertainty Impacts Tech Stocks Amid AI Boom and Market Volatility

S&P 500 posts record close, dollar edges up; Nvidia shares down after the bell

NEW YORK, Aug 27 (Reuters) - Major stock indexes rose and the S&P 500 posted a record closing high on Wednesday ahead of quarterly results from artificial intelligence leader Nvidia (NVDA.O), opens new tab, while the dollar recovered slightly from the previous session's drop despite ongoing concerns about the U.S. Federal Reserve's independence. A lawyer for Fed Governor Lisa Cook said she would file a lawsuit against U.S. President Donald Trump after he said he would fire her. Trump's statement left some investors worried about the independence of the U.S. central bank. Interest-rate sensitive two-year U.S. Treasury yields fell to an almost four-month low and the yield curve steepened as traders weighed the chance that Trump may be able to make more dovish appointments to the Fed. Even so, the dollar traded flat to slightly higher after it dropped in the previous session. The dollar index was last up 0.02% at 98.227, while the euro touched its weakest level since August 6 and was last down 0.09% at $1.1631 The three major U.S. stock indexes ended higher. After the closing bell, Nvidia's shares were down about 3% even as the company forecast third-quarter revenue above Wall Street estimates. This year, strong gains for a number of technology-related stocks exposed to AI have helped power major equity indexes to record highs and the results were seen as a test of the AI optimism that has propelled markets. "My takeaway is that these (Nvidia) numbers are not unexpected, nor is this reaction," said Nick Frasse, product manager at Vaneck Associates in New York. "The market has begun to factor in that Nvidia can continue to beat most expectations in spite of headwinds and questions like what they will have to pay to continue selling to China," he added. The company recently agreed to pay the U.S. federal government 15% of the sales it made in China in exchange for undefined export licenses. Technology shares, including several AI leaders, with investors pointing to some signs of caution emerging in the sector. The Dow Jones Industrial Average (.DJI), opens new tab rose 147.16 points, or 0.32%, to 45,565.23, the S&P 500 (.SPX), opens new tab added 15.46 points, or 0.24%, to 6,481.40 and the Nasdaq Composite (.IXIC), opens new tab gained 45.87 points, or 0.21%, to 21,590.14. European stocks rebounded slightly from the previous day's decline, with investors monitoring political risks in France. Concerns over a potential collapse of French Prime Minister Francois Bayrou's government next month sparked a selloff of French assets on Tuesday. MSCI's gauge of stocks across the globe (.MIWD00000PUS), opens new tab gained 0.32 points, or 0.03%, to 953.04. The pan-European STOXX 600 (.STOXX), opens new tab index rose 0.1%. Market watchers interpreted Fed Chair Jerome Powell's comments at the Fed's annual Jackson Hole symposium last week as indicating interest rate cuts could be on the way. Fed funds futures traders are pricing in 84% odds of a cut in September, according to the CME Group's FedWatch Tool. But the outlook for U.S. interest rates will still likely depend on labor market strength and inflation trends. The two-year note yield was last at 3.625%, down around 5 basis points on the day. The benchmark 10-year note yield fell to 4.236%, the lowest since August 14. The yield curve between two-year and 10-year notes was last at 61.3 basis points after reaching 63.5 basis points, the steepest since April 22. Oil gained on a larger-than-expected drop in U.S. crude inventories. U.S. crude futures rose 90 cents to settle at $64.15 a barrel and Brent futures gained 83 cents to settle at $68.05. Spot gold rose 0.12% to $3,396.34 an ounce. Reporting by Caroline Valetkevitch in New York; Additional reporting by Suzanne McGee, Karen Brettell, Yoruk Bahceli, Ankur Banerjee and Dhara Ranasinghe; Editing by Richard Chang, Nia Williams and Jamie Freed Our Standards: The Thomson Reuters Trust Principles., opens new tab

Nasdaq edges down as Nvidia falls on China market uncertainty

Aug 28 (Reuters) - The tech-heavy Nasdaq slipped in choppy trade on Thursday, constrained by weakness in Nvidia shares, as uncertainty around the Sino-U.S. trade war forced the AI chip giant to leave out potential China sales from its quarterly forecast. The exclusion came despite the company having secured certain licenses earlier this month to sell its H20 chips to major market China, after reaching a revenue-sharing deal with the U.S. government. Nvidia's (NVDA.O), opens new tab shares were last down 2.6% in volatile trade, as some analysts also raised concerns about whether the company's data center results hinted at tighter spending by cloud providers. The broader S&P 500 technology sector (.SPLRCT), opens new tab reversed early gains and dropped 0.5%, while the chip index (.SOX), opens new tab slipped 0.2%. Still, Nvidia's strong quarterly revenue forecasts, $60 billion share buyback plan and CEO Jensen Huang's upbeat comments placated investor concerns around artificial intelligence demand. "These results are good for a normal company in normal times, but Nvidia is neither. The lack of China revenue and uncertainty around future shipments is a concern. The longer this takes, the more entrenched domestic (China) alternatives become," said Paul Meeks, managing director at Freedom Capital Markets. The enthusiasm around AI earnings prospects was the driving force behind Wall Street's bull-market run that started nearly three years ago. The rally has survived multiple hiccups this year, including the unveiling of cheaper Chinese AI models and the U.S. tariff-induced selloff in April. Semiconductor peer Advanced Micro Devices (AMD.O), opens new tab was flat, while Super Micro Computer (SMCI.O), opens new tab and major customers of Nvidia, including Meta (META.O), opens new tab and Microsoft (MSFT.O), opens new tab, were marginally lower. Data analytics company Snowflake (SNOW.N), opens new tab gained 16.2% after raising its forecast for fiscal 2026 product revenue, citing AI demand. HP Inc (HPQ.N), opens new tab beat estimates for third-quarter revenue on growing demand for AI-powered personal computers, sending shares up 3.4%. At 09:59 a.m. ET, the Dow Jones Industrial Average (.DJI), opens new tab fell 64.01 points, or 0.14%, to 45,501.22, the S&P 500 (.SPX), opens new tab lost 12.27 points, or 0.19%, to 6,469.13 and the Nasdaq Composite (.IXIC), opens new tab lost 39.92 points, or 0.20%, to 21,547.73. The other dominant theme behind the benchmark S&P 500's (.SPX), opens new tab rise to record highs has been expectations that the Federal Reserve could lower interest rates for the first time this year in September. Traders are pricing in an 84.2% chance of a September rate-cut, according to data compiled by LSEG. Placating worries of a slowing economy, weekly jobless claims were lower than expected, while a separate report showed corporate profits rebounded in the second quarter. The spotlight is now on Friday's Personal Consumption Expenditures data, and any signs of inflation increasing could temper expectations for a September rate cut. Coming later in the day are remarks from Fed Governor Christopher Waller, who is perceived as dovish and among the candidates being considered to replace Fed Chair Jerome Powell next year. Uncertainty regarding central bank independence also remains, after U.S. President Donald Trump's attempt to fire Fed Governor Lisa Cook earlier this week. Among others, packaging food company Hormel Foods (HRL.N), opens new tab lost 13.8% after its quarterly profit forecast missed expectations. Declining issues outnumbered advancers by a 1.02-to-1 ratio on the NYSE. Advancing issues outnumbered decliners by a 1.18-to-1 ratio on the Nasdaq. The S&P 500 posted 20 new 52-week highs and three new lows while the Nasdaq Composite recorded 59 new highs and 21 new lows. Reporting by Johann M Cherian and Sanchayaita Roy in Bengaluru; Editing by Devika Syamnath Our Standards: The Thomson Reuters Trust Principles., opens new tab

S&P 500 ends lower as Dell and Nvidia drop

Aug 29 (Reuters) - The S&P 500 ended down from record highs on Friday, with losses in Dell, Nvidia and other AI-related stocks, while investors parsed inflation data showing tariffs have started feeding into prices. Dell (DELL.N), opens new tab tumbled and was among the deepest decliners in the S&P 500 after high manufacturing costs for AI-optimized servers and intensifying competition overshadowed the company's bullish demand forecast for artificial intelligence infrastructure. Nvidia (NVDA.O), opens new tab dipped for a third straight day. The AI heavyweight's quarterly report on Wednesday fell short of investors' high expectations but confirmed that spending related to artificial intelligence infrastructure remains strong. "Today is just weakness in the top of the market, in tech," said Zachary Hill, head of portfolio management at Horizon Investments in Charlotte, North Carolina. "This is not the first time that we've had some worries about over-investment in AI, lack of monetization opportunities and that type of thing." U.S. consumer spending increased by the most in four months in July while services inflation picked up, but economists did not believe the signs of strong domestic demand would prevent the Federal Reserve from cutting interest rates next month against a backdrop of softening labor market conditions. The report from the Commerce Department on Friday showed mild price pressures from tariffs on imports. A U.S. tariff exemption for package imports valued under $800 also ended on Friday, raising costs for businesses and, in turn, consumers. Traders widely expect the Fed will cut interest rates by 25 basis points at its September meeting. "Even if we see an uptick in inflation, which it looks like we are, the Fed may look past that, given that this is going to be tariff-related and temporary," said Jim Smigiel, chief investment officer at SEI. The U.S. stock market will be closed on Monday for the Labor Day holiday. Expectations of interest rate cuts helped lead the benchmark S&P 500 and the blue-chip Dow to their fourth straight month of gains, while the tech-heavy Nasdaq logged its fifth consecutive monthly rise. U.S. shares of Alibaba soared and were among the most-traded on Wall Street after the Chinese company reported stronger-than-expected quarterly growth in its cloud computing business, driven by AI-related demand. As well, the Wall Street Journal reported that Alibaba has developed a new AI chip. According to preliminary data, the S&P 500 (.SPX), opens new tab lost 41.50 points, or 0.64%, to end at 6,460.36 points, while the Nasdaq Composite (.IXIC), opens new tab lost 249.61 points, or 1.15%, to 21,455.55. The Dow Jones Industrial Average (.DJI), opens new tab fell 91.12 points, or 0.20%, to 45,546.08. Fed Governor Christopher Waller, a candidate for the central bank's top job, said on Thursday he wants to start cutting rates next month, in line with President Donald Trump's calls to lower borrowing costs. A court hearing on Trump's attempt to fire Federal Reserve Governor Lisa Cook ended on Friday with no immediate ruling from the judge hearing the unprecedented legal fight, meaning the U.S. central bank policymaker will remain in place for now. Chipmaker Marvell (MRVL.O), opens new tab slumped after forecasting quarterly revenue below expectations. Global economy bellwether Caterpillar (CAT.N), opens new tab dropped a day after the heavy-equipment maker forecast higher tariff-related expenses for 2025. Reporting by Johann M Cherian and Sanchayaita Roy in Bengaluru, and by Noel Randewich in San Francisco; Editing by Devika Syamnath and Matthew Lewis Our Standards: The Thomson Reuters Trust Principles., opens new tab * Suggested Topics: * Stocks Noel Randewich Thomson Reuters San Francisco correspondent covering the stock market with a focus on Big Tech, semiconductors and other Silicon Valley companies

Nasdaq futures flat as Nvidia slips on China market uncertainty

Aug 28 (Reuters) - Futures tracking the tech-heavy Nasdaq were flat on Thursday, constrained by a drop in Nvidia shares, as uncertainty around the Sino-U.S. trade war forced the AI chip giant to leave out potential China sales from its quarterly forecast. The exclusion came despite the company having secured certain licenses earlier this month to sell its H20 chips to major market China, after reaching a revenue-sharing deal with the U.S. government. Its shares (NVDA.O), opens new tab slipped 1.6% in premarket trading, as some analysts also raised concerns about whether the company's data center results hinted at tighter spending by cloud providers. Still, Nvidia's strong quarterly revenue forecasts, $60 billion share buyback plan and CEO Jensen Huang's upbeat comments placated investors who were worried that the demand for artificial intelligence infrastructure might be slowing down at a time when valuations on the S&P 500 have also leaped ahead of long-term averages and developed market peers. "AI demand is not the problem for Nvidia, it's more how politics has got in the way of its grand ambitions for global domination," said Dan Coatsworth, an investment analyst at AJ Bell. "The company is stuck between a rock and a hard place. Nvidia has technology that countless companies are queuing up to buy, yet the U.S. trade war has made it difficult to sell whatever it wants into China." The enthusiasm around the earnings prospects from AI was the driving force behind the bull-market rally that started nearly three years ago on Wall Street. It has survived multiple hiccups this year, including the unveiling of cheaper Chinese AI models and the U.S. tariff-induced selloff in April. Among semiconductor peers, Super Micro Computer (SMCI.O), opens new tab lost 1% and Advanced Micro Devices (AMD.O), opens new tab slipped 0.4%, while major customers of Nvidia including Meta (META.O), opens new tab and Microsoft (MSFT.O), opens new tab inched up 0.3% each. Data analytics company Snowflake (SNOW.N), opens new tab gained 14.4% after raising its forecast for fiscal 2026 product revenue due to AI demand. At 05:29 a.m. ET, Dow E-minis were up 86 points, or 0.19%, S&P 500 E-minis were up 3 points, or 0.05%, and Nasdaq 100 E-minis were down 6.25 points, or 0.03%. The other dominant theme that has lifted the benchmark S&P 500 (.SPX), opens new tab to record highs has been expectations that the Federal Reserve could lower interest rates for the first time this year in September. Futures tracking the rate-sensitive Russell 2000 small-caps index gained 0.7% before the bell, while S&P 500 futures were just shy of a record high. Traders are pricing in an 88.8% chance of a September rate-cut, according to data compiled by LSEG. However, any spike in inflation according to the Fed's preferred gauge, the Personal Consumption Expenditures index, expected on Friday, could temper those expectations. Thursday will bring a weekly report on jobless claims along with a second estimate on quarterly gross domestic product. Uncertainty also remains regarding central bank independence while deciding monetary policy after U.S. President Donald Trump's attempt to fire Fed Governor Lisa Cook earlier this week. Among others, cybersecurity corporation CrowdStrike (CRWD.O), opens new tab dropped 3.2% after forecasting weak third-quarter revenue. Reporting by Johann M Cherian in Bengaluru; Editing by Devika Syamnath Our Standards: The Thomson Reuters Trust Principles., opens new tab

Nasdaq set to open flat as Nvidia slips on China market uncertainty

Aug 28 (Reuters) - The tech-heavy Nasdaq was on track to open flat on Thursday, constrained by weakness in Nvidia shares, as uncertainty around the Sino-U.S. trade war forced the AI chip giant to leave out potential China sales from its quarterly forecast. The exclusion came despite the company having secured certain licenses earlier this month to sell its H20 chips to major market China, after reaching a revenue-sharing deal with the U.S. government. Nvidia's (NVDA.O), opens new tab shares slipped 0.3% in premarket trading, as some analysts also raised concerns about whether the company's data center results hinted at tighter spending by cloud providers. Still, its strong quarterly revenue forecasts, $60 billion share buyback plan and CEO Jensen Huang's upbeat comments placated investor concerns around artificial intelligence demand. "These results are good for a normal company in normal times, but Nvidia is neither. The lack of China revenue and uncertainty around future shipments is a concern. The longer this takes, the more entrenched domestic (China) alternatives become," said Paul Meeks, managing director at Freedom Capital Markets. The enthusiasm around AI earnings prospects was the driving force behind Wall Street's bull-market run that started nearly three years ago. The rally has survived multiple hiccups this year, including the unveiling of cheaper Chinese AI models and the U.S. tariff-induced selloff in April. Semiconductor peers Super Micro Computer (SMCI.O), opens new tab and Advanced Micro Devices (AMD.O), opens new tab struggled for direction, as did major customers of Nvidia including Meta (META.O), opens new tab and Microsoft (MSFT.O), opens new tab. Data analytics company Snowflake (SNOW.N), opens new tab gained 14.4% after raising its forecast for fiscal 2026 product revenue, citing AI demand. At 08:43 a.m. ET, Dow E-minis were up 71 points, or 0.16%, S&P 500 E-minis were up 6 points, or 0.09%, and Nasdaq 100 E-minis were up 17.75 points, or 0.08%. The other dominant theme that has lifted the benchmark S&P 500 (.SPX), opens new tab to record highs has been expectations that the Federal Reserve could lower interest rates for the first time this year in September. Futures tracking the rate-sensitive Russell 2000 small-caps index gained 0.5% before the bell, while S&P 500 futures were just shy of a record high. Traders are pricing in an 84.2% chance of a September rate-cut, according to data compiled by LSEG. Data on Thursday showed jobless claims stood at 229,000 last week, compared with expectations of 230,000. A separate report showed second-quarter gross domestic product increased 3.3% according to a second estimate, more than the 3% previously estimated. All eyes will be the Personal Consumption Expenditures index expected on Friday and any signs of inflation increasing could temper expectations for a September rate cut. Coming later in the day are remarks from Fed Governor Christopher Waller, who is perceived as dovish and among the candidates being considered to replace Fed Chair Jerome Powell next year. Uncertainty regarding central bank independence also remains, after U.S. President Donald Trump's attempt to fire Fed Governor Lisa Cook earlier this week. Among others, cybersecurity firm CrowdStrike (CRWD.O), opens new tab dropped 3.4% after forecasting weak third-quarter revenue. Discount store operator Dollar General (DG.N), opens new tab gained 4.7% after raising annual forecasts, while packaging food company Hormel Foods (HRL.N), opens new tab lost 10.4% after its quarterly profit forecast missed expectations. Reporting by Johann M Cherian and Sanchayaita Roy in Bengaluru; Editing by Devika Syamnath Our Standards: The Thomson Reuters Trust Principles., opens new tab

S&P 500 hits record high as Nvidia results butress AI rally

Aug 28 (Reuters) - The S&P 500 hit a record high on Thursday after Nvidia's quarterly report fell short of investors' high expectations while confirming that spending related to artificial intelligence infrastructure remains strong. Shares of Nvidia (NVDA.O), opens new tab dipped almost 1% after Sino-U.S. trade uncertainties prompted the leading AI chip designer to exclude potential China sales from its quarterly forecast late on Wednesday. Investors viewed Nvidia's report, including a 56% surge in quarterly revenue, as confirmation that demand related to AI technology remains strong, supporting a rally in AI-related stocks that has propelled Wall Street to record highs in recent years. AI heavyweights Microsoft (MSFT.O), opens new tab and Meta Platforms (META.O), opens new tab gained about 0.5%, while Amazon (AMZN.O), opens new tab climbed 1.1%. AI chipmaker Broadcom (AVGO.O), opens new tab added 3%. "Nvidia is such an outlier that to say it was a disappointing print is only against the bar of borderline impossible expectations," said Ross Mayfield, an investment strategy analyst at Baird. "It's clear that the primary structural driver of this market, which is AI, is not going anywhere or cooling down." The S&P 500 was up 0.25% at 6,497.88 points, hitting a record high for a second straight day. The Nasdaq gained 0.54% to 21,705.67 points, while the Dow Jones Industrial Average was up 0.05% at 45,587.83 points. Six of the 11 S&P 500 sector indexes rose, led by communication services (.SPLRCL), opens new tab, up 1.04%, followed by a 0.6% gain in information technology (.SPLRCT), opens new tab. Nike (NKE.N), opens new tab climbed 0.2% after the sports apparel seller said it was cutting less than 1% of its corporate workforce as it struggles to reclaim market share lost to rivals. Reducing worries of a slowing economy, weekly jobless claims were lower than expected, while a separate report showed corporate profits rebounded in the second quarter. Expectations that the Federal Reserve will soon cut interest rates to shore up economic growth have contributed to Wall Street's recent gains. The spotlight is on Friday's Personal Consumption Expenditures data, and any signs of inflation increasing could temper broad expectations for easing at the Fed's policy meeting in September. Traders are pricing in more than an 80% chance of an interest rate cut next month, according to CME Group's FedWatch. On Thursday, Fed Governor Lisa Cook filed a lawsuit challenging U.S. President Donald Trump's attempt to remove her from office earlier this week. Coming later in the day are remarks from Fed Governor Christopher Waller, who is perceived as favoring lower interest rates and is among the candidates being considered to replace Fed Chair Jerome Powell next year. Data analytics company Snowflake (SNOW.N), opens new tab surged 22% after raising its forecast for fiscal 2026 product revenue, citing AI demand. HP Inc (HPQ.N), opens new tab rose 2% after beating quarterly revenue estimates on growing demand for AI-powered personal computers. Packaging food company Hormel Foods (HRL.N), opens new tab tumbled 13% after issuing a downbeat quarterly profit forecast. Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX), opens new tab by a 1.7-to-one ratio. The S&P 500 posted 27 new highs and four new lows; the Nasdaq recorded 105 new highs and 37 new lows. Reporting by Johann M Cherian and Sanchayaita Roy in Bengaluru, and by Noel Randewich in San Francisco; Editing by Devika Syamnath and Richard Chang Our Standards: The Thomson Reuters Trust Principles., opens new tab * Suggested Topics: * Stocks Noel Randewich Thomson Reuters San Francisco correspondent covering the stock market with a focus on Big Tech, semiconductors and other Silicon Valley companies

Nasdaq drifts higher, Nvidia outlook faces China overhang

Aug 28 (Reuters) - The tech-heavy Nasdaq edged higher in choppy trade on Thursday, held back by a fall in Nvidia's shares as Sino-U.S. trade uncertainties prompted the AI chip giant to exclude potential China sales from its quarterly forecast. The exclusion came despite the company having secured certain licenses earlier this month to sell its H20 chips to major market China, after reaching a revenue-sharing deal with the U.S. government. Nvidia's (NVDA.O), opens new tab shares were last down 1.3% in volatile trade, as some analysts also raised concerns about whether the company's data center results hinted at tighter spending by cloud providers. Still, Nvidia's strong quarterly revenue forecasts, $60 billion share buyback plan and CEO Jensen Huang's upbeat comments placated investor concerns around artificial intelligence demand. "(China) is a big part of their business and until that's resolved, there's going to be a bit of an overhang on what they can do in terms of guidance and what they can project in terms of growth," said Thomas Hayes, chairman at Great Hill Capital. The enthusiasm around AI was the driving force behind Wall Street's nearly three-year bull-market run. The rally has survived multiple hiccups this year, including the unveiling of cheaper Chinese AI models and the U.S. tariff-induced selloff in April. Semiconductor peer Super Micro Computer (SMCI.O), opens new tab fell 1.1%, while Broadcom rose 2.5%, helped by brokerage Oppenheimer's price target raise. Major customers of Nvidia, including Meta (META.O), opens new tab and Microsoft (MSFT.O), opens new tab, were marginally higher. The broader S&P 500 technology sector (.SPLRCT), opens new tab gained 0.2% and the chip index (.SOX), opens new tab rose 0.3%. Data analytics company Snowflake (SNOW.N), opens new tab gained 17.8% after raising its forecast for fiscal 2026 product revenue, citing AI demand. HP Inc (HPQ.N), opens new tab rose 2.4% after beating quarterly revenue estimates on growing demand for AI-powered personal computers. At 11:44 a.m. ET, the Dow Jones Industrial Average (.DJI), opens new tab fell 35.70 points, or 0.08%, to 45,529.53, the S&P 500 (.SPX), opens new tab gained 0.57 points, or 0.01%, to 6,481.97 and the Nasdaq Composite (.IXIC), opens new tab gained 46.98 points, or 0.22%, to 21,637.12. The other dominant theme behind the benchmark S&P 500's (.SPX), opens new tab rise to record highs has been expectations that the Federal Reserve could lower interest rates for the first time this year in September. Traders are pricing in an 88.8% chance of a rate-cut next month, according to data compiled by LSEG. Placating worries of a slowing economy, weekly jobless claims were lower than expected, while a separate report showed corporate profits rebounded in the second quarter. The spotlight is now on Friday's Personal Consumption Expenditures data, and any signs of inflation increasing could temper expectations for a September rate cut. Also on Thursday, Fed Governor Lisa Cook filed a lawsuit challenging U.S. President Donald Trump attempt to remove her from office earlier this week. Coming later in the day are remarks from Fed Governor Christopher Waller, who is perceived as dovish and among the candidates being considered to replace Fed Chair Jerome Powell next year. Among others, packaging food company Hormel Foods (HRL.N), opens new tab lost 13.5% after issuing a downbeat quarterly profit forecast. Declining issues outnumbered advancers by a 1.08-to-1 ratio on the NYSE. Advancing issues outnumbered decliners by a 1.1-to-1 ratio on the Nasdaq. The S&P 500 posted 26 new 52-week highs and three new lows while the Nasdaq Composite recorded 92 new highs and 35 new lows. Reporting by Johann M Cherian and Sanchayaita Roy in Bengaluru; Editing by Devika Syamnath Our Standards: The Thomson Reuters Trust Principles., opens new tab

Asia markets rocky as Nvidia drops, China chipmakers blast off

SINGAPORE, Aug 28 (Reuters) - Asian stocks experienced a volatile session on Thursday as worries over the outlook for artificial intelligence bellwether Nvidia's (NVDA.O), opens new tabChina business, opens new tab hit its regional suppliers, while igniting outsized gains in its Chinese rivals. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), opens new tab swung between gains and losses, and was last down 0.4%, as U.S. equity futures were dragged lower by an after-hours decline of 3.1% in shares of the chip designer, which has become the world's most valuable company. "After such a strong run, investor exposure was stretched, leaving little margin for disappointment," said Charu Chanana, chief investment strategist at Saxo in Singapore. "We should expect some spillover," she added, even though it is unlikely to hurt wider investor confidence. "Asian chipmakers -- especially in Korea and Taiwan -- are the cleanest beta to Nvidia and will likely feel the drag." In early European trades, pan-region futures were last flat, German DAX futures gained 0.1% and FTSE futures were up 0.1%. The European single currency was unchanged on the day at $1.1642, holding on to a three-week winning streak that bumped up its gains this month to 2%, as traders dialled back expectations of the hit to French government borrowing costs stemming from the country's deepening political crisis. Following a two-day string of gains that has pushed U.S. markets to a record high, S&P 500 e-mini futures fell 0.1% and Nasdaq futures tumbled 0.3% after Nvidia's results. Investor concerns about Nvidia centred on its China business, which hung in the balance, caught up in the trade war between Washington and Beijing. "We expect the stock to trade down modestly following an in-line quarter and guidance against a backdrop of elevated expectations heading into the call," analysts from Goldman Sachs wrote in a research report. "Management noted that it did not ship any H20 products to China in the quarter." What also caused concern was that data centre revenues of $41.1 billion fell short of analyst expectations of $41.3 billion, said Mark Matthews, head of research for Asia at Bank Julius Baer in Singapore. "Granted it was minor, but a miss is odd for this company," he said. The chill was felt across the Asian tech sector, as Taiwan Semiconductor Manufacturing Company (2330.TW), opens new tab tumbled 2.5%, while Samsung Electronics (005930.KS), opens new tab slipped 1%. Nvidia's Chinese competitors surged, with SMIC (0981.HK), opens new tab gaining as much as 9.3%, and Cambricon Technologies , shares, which have almost tripled since mid-July, adding as much as 8.2%. The two chipmakers pushed the STAR 50 Index of Chinese growth stocks to a gain of as much as 5%. Japanese stocks fluctuated between gains and losses after Kyodo news agency reported on Thursday that Japan's top trade negotiator Ryosei Akazawa cancelled a planned visit to the United States, where he was expected to iron out details of the trade deal agreed last month. The Nikkei 225 (.N225), opens new tab was last up 0.7%. Shares in Mitsubishi Corp (8058.T), opens new tab rose as much as 3.2% after a unit of Warren Buffett's Berkshire Hathaway (BRKa.N), opens new tab said it had increased its stake in the company. Korean stocks advanced 0.4% after the Bank of Korea kept rates on hold at 2.5%, as widely expected by economists. Hong Kong stocks slumped, with the Hang Seng Index (.HSI), opens new tab falling 0.9%, led by a decline of as much as 11.4% in Meituan (3690.HK), opens new tab shares, after the Chinese food delivery giant reported a drop in second-quarter profit on Wednesday. In the currency markets, the dollar was on the defensive as traders ramp up bets of an interest rate cut next month, following Federal Reserve Chair Jerome Powell's recent dovish pivot and as President Donald Trump moves to assert control of the world's biggest central bank. Earlier this week, Trump said he is firing Federal Reserve Governor Lisa Cook, leaving some investors worried about the Fed's independence. Cook's lawyer said she will file a lawsuit against the White House. Trump pressured the Fed to lower interest rates during his first term in the White House and he has escalated that campaign in recent months while seeking to make appointments to key positions on the U.S. central bank. The president has demanded that rates be cut by several percentage points and threatened to fire Powell, although he recently backed down from that. The yield on benchmark 10-year Treasury notes fell to 4.2227% compared with its U.S. close of 4.238% on Wednesday. The market is currently pricing a 88.7% probability of a 25-basis point rate cut at Fed's policy meeting on 17 September, up from 61.9% a month ago, according to the CME Group's FedWatch tool. The dollar dropped 0.2% against the yen to 147.135 . In commodities markets, Brent crude fell 0.8% to $67.49 per barrel. Gold was slightly lower. Spot gold was traded down 0.2% at $3391.60 per troy ounce. Reporting by Gregor Stuart Hunter; Editing by Shri Navaratnam and Sonali Paul Our Standards: The Thomson Reuters Trust Principles., opens new tab

S&P 500 notches record high close as Nvidia results buttress AI rally

Aug 28 (Reuters) - The S&P 500 notched a record high close on Thursday after Nvidia's quarterly report fell short of investors' high expectations but confirmed that spending related to artificial intelligence infrastructure remains strong. Shares of Nvidia (NVDA.O), opens new tab dipped as much as 2.9% after Sino-U.S. trade uncertainties prompted the leading AI chip designer to exclude potential China sales from its quarterly forecast late on Wednesday. Investors viewed Nvidia's report, including a 56% surge in quarterly revenue, as confirmation that demand related to AI technology remains strong, supporting a rally in AI-related stocks that has propelled Wall Street to record highs in recent years. AI heavyweights Microsoft (MSFT.O), opens new tab, Amazon (AMZN.O), opens new tab and Meta Platforms (META.O), opens new tab gained. "Nvidia is such an outlier that to say it was a disappointing print is only against the bar of borderline impossible expectations," said Ross Mayfield, an investment strategy analyst at Baird. "It's clear that the primary structural driver of this market, which is AI, is not going anywhere or cooling down." According to preliminary data, the S&P 500 (.SPX), opens new tab gained 19.62 points, or 0.30%, to end at 6,501.02 points, while the Nasdaq Composite (.IXIC), opens new tab gained 115.90 points, or 0.54%, to 21,706.04. The Dow Jones Industrial Average (.DJI), opens new tab rose 70.35 points, or 0.15%, to 45,635.58. Nike (NKE.N), opens new tab bounced between small losses and small gains after the sports apparel seller said it was cutting less than 1% of its corporate workforce as it struggles to reclaim market share lost to rivals. Reducing worries of a slowing economy, weekly jobless claims were lower than expected, while a separate report showed corporate profits rebounded in the second quarter. Expectations that the Federal Reserve will soon cut interest rates to shore up economic growth have contributed to Wall Street's recent gains. Investors on Friday will focus on Personal Consumption Expenditures data. Any signs of inflation increasing could temper broad expectations for easing at the Fed's policy meeting in September. Traders are pricing in more than an 80% chance of an interest rate cut next month, according to CME Group's FedWatch. On Thursday, Fed Governor Lisa Cook filed a lawsuit challenging U.S. President Donald Trump's attempt to remove her from office earlier this week. Data analytics company Snowflake (SNOW.N), opens new tab surged after raising its forecast for fiscal 2026 product revenue, citing AI demand. HP Inc (HPQ.N), opens new tab rose after beating quarterly revenue estimates on growing demand for AI-powered personal computers. Packaging food company Hormel Foods (HRL.N), opens new tab tumbled after issuing a downbeat quarterly profit forecast. Reporting by Johann M Cherian and Sanchayaita Roy in Bengaluru, and by Noel Randewich in San Francisco; Editing by Devika Syamnath and Richard Chang Our Standards: The Thomson Reuters Trust Principles., opens new tab * Suggested Topics: * Stocks Noel Randewich Thomson Reuters San Francisco correspondent covering the stock market with a focus on Big Tech, semiconductors and other Silicon Valley companies

S&P 500, Dow score record high closes as Nvidia results buttress AI rally

Aug 28 (Reuters) - The S&P 500 and Dow Jones Industrial Average notched record high closes on Thursday after Nvidia's quarterly report fell short of investors' high expectations but confirmed that spending related to artificial intelligence infrastructure remains strong. Shares of Nvidia (NVDA.O), opens new tab dipped 0.8% after Sino-U.S. trade uncertainties prompted the leading AI chip designer to exclude potential China sales from its quarterly forecast late on Wednesday. Investors viewed Nvidia's report, including a 56% surge in quarterly revenue, as confirmation that demand related to AI technology remains strong, supporting a rally in AI-related stocks that has propelled Wall Street to record highs in recent years. Other AI heavyweights gained, with Alphabet (GOOGL.O), opens new tab adding 2%, Amazon (AMZN.O), opens new tab up 1% and chipmaker Broadcom (AVGO.O), opens new tab rising almost 3%. "Nvidia is such an outlier that to say it was a disappointing print is only against the bar of borderline impossible expectations," said Ross Mayfield, an investment strategy analyst at Baird. "It's clear that the primary structural driver of this market, which is AI, is not going anywhere or cooling down." The S&P 500 climbed 0.32% to end the session at 6,501.86 points, reaching a record high close for a second straight day. The Nasdaq gained 0.53% to 21,705.16 points, while the Dow Jones Industrial Average rose 0.16% to 45,636.90 points, exceeding its previous record high close on August 22. Seven of the 11 S&P 500 sector indexes rose, led by communication services (.SPLRCL), opens new tab, up 0.94%, followed by a 0.68% gain in energy (.SPNY), opens new tab. Nike (NKE.N), opens new tab slid 0.2% after the sports apparel seller said it was cutting less than 1% of its corporate workforce as it struggles to reclaim market share lost to rivals. Reducing worries of a slowing economy, weekly jobless claims were lower than expected, while a separate report showed corporate profits rebounded in the second quarter. Expectations that the Federal Reserve will soon cut interest rates to shore up economic growth have contributed to Wall Street's recent gains. Investors on Friday will focus on Personal Consumption Expenditures data. Any signs of inflation increasing could temper broad expectations for easing at the Fed's policy meeting in September. Traders are pricing in more than an 80% chance of an interest rate cut next month, according to CME Group's FedWatch. On Thursday, Fed Governor Lisa Cook filed a lawsuit challenging U.S. President Donald Trump's attempt to remove her from office earlier this week. Data analytics company Snowflake (SNOW.N), opens new tab surged 20% after raising its forecast for fiscal 2026 product revenue, citing AI demand. HP Inc (HPQ.N), opens new tab rose 4.6% after beating quarterly revenue estimates on growing demand for AI-powered personal computers. Packaging food company Hormel Foods (HRL.N), opens new tab tumbled 13% after issuing a downbeat quarterly profit forecast. Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX), opens new tab by a 1.2-to-one ratio. The S&P 500 posted 28 new highs and five new lows; the Nasdaq recorded 117 new highs and 52 new lows. Volume on U.S. exchanges was relatively light, with 13.8 billion shares traded, compared to an average of 16.7 billion shares over the previous 20 sessions. Reporting by Johann M Cherian and Sanchayaita Roy in Bengaluru, and by Noel Randewich in San Francisco; Editing by Devika Syamnath and Richard Chang Our Standards: The Thomson Reuters Trust Principles., opens new tab * Suggested Topics: * Stocks Noel Randewich Thomson Reuters San Francisco correspondent covering the stock market with a focus on Big Tech, semiconductors and other Silicon Valley companies

S&P 500 dips from record highs as Dell and Nvidia drop

Aug 29 (Reuters) - The S&P 500 fell from record highs on Friday, with losses in Dell, Nvidia and other AI-related stocks, while investors parsed inflation data showing tariffs have started feeding into prices. Dell (DELL.N), opens new tab tumbled 9.4% and was among the deepest decliners in the S&P 500 after high manufacturing costs for AI-optimized servers and intensifying competition overshadowed the company's bullish demand forecast for artificial intelligence infrastructure. The S&P 500 technology sector index (.SPLRCT), opens new tab shed 1.7%. Nvidia (NVDA.O), opens new tab lost 3.3%, down for a third straight day. The AI heavyweight's quarterly report on Wednesday fell short of investors' high expectations but confirmed that spending related to artificial intelligence infrastructure remains strong. "Today is just weakness in the top of the market, in tech," said Zachary Hill, head of portfolio management at Horizon Investments in Charlotte, North Carolina. "This is not the first time that we've had some worries about over-investment in AI, lack of monetization opportunities and that type of thing." U.S. consumer spending increased by the most in four months in July while services inflation picked up, but economists did not believe the signs of strong domestic demand would prevent the Federal Reserve from cutting interest rates next month against a backdrop of softening labor market conditions. The report from the Commerce Department on Friday showed mild price pressures from tariffs on imports. A U.S. tariff exemption for package imports valued under $800 also ended on Friday, raising costs for businesses and, in turn, consumers. Traders widely expect the Fed will cut interest rates by 25 basis points at its September meeting. "Even if we see an uptick in inflation, which it looks like we are, the Fed may look past that, given that this is going to be tariff-related and temporary," said Jim Smigiel, chief investment officer at SEI. The U.S. stock market will be closed on Monday for the Labor Day holiday. Expectations of interest rate cuts have helped put the benchmark S&P 500 and the blue-chip Dow on track for their fourth straight month of gains, while the tech-heavy Nasdaq was poised to log its fifth consecutive monthly rise. U.S. shares of Alibaba soared 13% and were among the most traded on Wall Street after the Chinese company reported stronger-than-expected quarterly growth in its cloud computing business, driven by AI-related demand. The S&P 500 was down 0.68% at 6,457.45 points after notching a record-high close on Thursday. The Nasdaq declined 1.18% to 21,448.87 points, while the Dow Jones Industrial Average was down 0.27% at 45,513.35 points. Fed Governor Christopher Waller, a candidate for the central bank's top job, said on Thursday he wants to start cutting rates next month, in line with President Donald Trump's calls to lower borrowing costs. The Russell 2000 index (.RUT), opens new tab of smaller companies dipped 0.6% on Friday and was on track for a nearly 7% gain in August. A court hearing on Trump's attempt to fire Federal Reserve Governor Lisa Cook ended on Friday with no immediate ruling from the judge hearing the unprecedented legal fight, meaning the U.S. central bank policymaker will remain in place for now. Chipmaker Marvell (MRVL.O), opens new tab slumped 18% after forecasting quarterly revenue below expectations. Global economy bellwether Caterpillar (CAT.N), opens new tab lost about 4%, a day after the heavy-equipment maker forecast higher tariff-related expenses for 2025. Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX), opens new tab by a 1.2-to-one ratio. The S&P 500 posted 21 new highs and no new lows; the Nasdaq recorded 68 new highs and 61 new lows. Reporting by Johann M Cherian and Sanchayaita Roy in Bengaluru, and by Noel Randewich in San Francisco; Editing by Devika Syamnath and Matthew Lewis Our Standards: The Thomson Reuters Trust Principles., opens new tab * Suggested Topics: * Stocks Noel Randewich Thomson Reuters San Francisco correspondent covering the stock market with a focus on Big Tech, semiconductors and other Silicon Valley companies

S&P 500 futures fall from record as Nvidia declines following earnings: Live updates

In extended trading, shares of Nvidia fell nearly 3%, even after its second-quarter results beat expectations. Nvidia makes up about 8% of the S&P 500, per FactSet. Chip stocks also came under a bit of pressure following the artificial intelligence bellwether's results, as AMD, Taiwan Semiconductor and Broadcom each fell 1% in sympathy. "The negative stock reaction feels like a bit of an incorrect knee-jerk reaction," David Wagner, head of equity at Aptus Capital Advisors, said, adding that investors should be "buying the pullback." "The company is still growing over 50% on their guidance at a $50B quarterly revenue run rate - that's remarkable, even for the current valuation," he said. Notably, Nvidia said there were no sales of H20 chips to China during the quarter, nor did the company assume any shipments in its guidance. The White House said earlier this month that it's still working out the "legality" of its 15% export tax on Nvidia and AMD. "That's important because that's just an unknown. Do they actually get that license for the H20 and start making sales?" Art Hogan, chief market strategist at B. Riley Wealth Management, told CNBC. "Not putting anything into the Q3 guide means that there's more upside potential if, in fact, they get the license for the H20 into China." To be sure, Hogan also said that he believes the AI boom is still in "the very early innings." He thinks that overall, the market will "breathe a sigh of relief" on Thursday, with investors thinking "Nvidia is still the king of the artificial intelligence revolution" after CEO Jensen Huang "does another masterful job of explaining what we should be looking for moving forward." The market is coming off a winning session Wednesday as traders awaited the chipmaker's results. The S&P 500 and the Nasdaq Composite similarly rose around 0.2%, while the Dow Jones Industrial Average advanced 0.3%. The market is on pace for a winning month as well following Wednesday's moves, as the S&P 500 and the Nasdaq are each up more than 2%, while the 30-stock Dow is up more than 3% in the period. Investors have been shrugging off threats to the Federal Reserve's independence from the Trump administration after President Donald Trump told Fed Board Governor Lisa Cook that she's fired earlier this week, a move that Cook plans to legally challenge. On Wednesday, Trump's top economic adviser, Kevin Hassett, said that Cook should go on leave from the central bank even with her plans to file a lawsuit.

The S&P 500 hit an all-time high just before Nvidia earnings

The S&P 500 rose 0.2%, good enough to nudge the benchmark index past the record high it set two weeks ago. The Dow Jones Industrial Average rose 0.3% and the Nasdaq composite closed 0.2% higher. Technology companies led the way higher, outweighing declines in communication services and other sectors. After the market closed, Nvidia reported quarterly earnings and revenue that topped Wall Street analysts' forecasts, though the company noted that sales of its artificial intelligence chipsets rose at a slower pace than analysts anticipated. The stock fell 3.2% in after-hours trading after having slipped 0.1% during the regular session. Investors consider Nvidia a barometer for the strength of the boom in artificial intelligence because the company makes most of the chips that power the technology. Its heavy weighting also gives Nvidia outsized influence as a bellwether for the broader market. "Saying this is the most important stock in the world is an understatement," said Jay Woods, chief global strategist at Freedom Capital Markets. "The stock's average move after an earnings release is plus or minus 7.4%, so just an average move will make an impact on the entire market." Several big software companies -- CrowdStrike Holdings, ServiceNow, Palo Alto Networks, Intuit and Salesforce -- rose ahead of the Nvidia results. The stocks have been mostly in the red so far this quarter amid worries that AI is going to make software creation much easier at the expense of big software companies' competitive edge. Cracker Barrel shares climbed 8% after the restaurant company scrapped plans to change its logo following an uproar on social media that even drew a comment from President Donald Trump. Shares in several companies rose after they reported quarterly results that topped analysts' forecasts. Department store chain Kohl's vaulted 24% and database platform company MongoDB surged 38%. Both companies also raised their full-year guidance. J.M. Smucker slid 4.4% after the jelly and jam maker's latest quarterly snapshot fell short of analysts' estimates. Among other stocks that lost ground: doughnut shop chain Krispy Kreme, which fell 3.5%, and Paramount Skydance, which dropped 6.5% for the biggest decline among S&P 500 companies. Treasury yields mostly fell in the bond market. The yield on the 10-year Treasury slipped to 4.24% from 4.26% late Tuesday. Crude oil prices rose. European markets finished mostly lower and Asian markets closed mixed overnight. Trading on Wall Street is off to an uneven start this week following big gains last week on hopes for interest rate cuts from the Fed. Markets have been subdued after Trump escalated his fight with the central bank by trying to fire Federal Reserve Governor Lisa Cook. Cook's lawyer said she'll sue Trump's administration to try to stop him. Trump has been feuding with the central bank over its cautious interest rate policy. The Fed has held rates steady since late 2024 over worries that Trump's unpredictable tariff policies will reignite inflation. Trump has also threatened to fire Fed Chair Jerome Powell, often taunting him with name-calling. Still, he is only one of 12 votes that decides interest rate policy. For now, the situation isn't expected to have a major impact on the Fed's near-term policy. The two-year Treasury yield, which closely tracks expectations for Federal Reserve action, dropped to 3.62% from 3.68%. Traders are still betting the Fed will trim its benchmark interest rate at its next meeting in September. Traders see an 90.3% chance that the central bank will cut the rate by a quarter of a percentage point, according to data from CME Group. "It's kind of a foregone conclusion from the market that we're going to get the September interest rate cut," said Jed Ellerbroek, portfolio manager at Argent Capital Management. "The bigger question is probably 'What's after that?' " The Federal Reserve cut its benchmark interest rate in late 2024 after spending the last several years fighting rising inflation by raising rates. It managed to mostly tame inflation and avoided having those higher rates stall economic growth, thanks largely to strong consumer spending and a resilient job market. The Fed hit the pause button heading into 2025 over concerns that higher tariffs imposed by Trump could reignite inflation. Lower interest rates make borrowing easier, helping to spur more investment and spending, but that could also potentially fuel inflation. However, concerns are deepening over the jobs market. Economic data is relatively light this week until Friday, which will bring another update on inflation: the U.S. personal consumption expenditures index. Economists expect it to show that inflation remained at about 2.9% in July, compared with a year ago. Businesses have been warning investors and consumers about higher costs and prices because of tariffs. Steep tariffs placed by the Trump administration on India over Russian oil purchases took effect Wednesday, bringing the combined tariffs imposed on the U.S. ally to 50%. All told, the S&P 500 rose 15.46 points to 6,481.40. The Dow added 147.16 points to 45,565.23, and the Nasdaq climbed 45.87 points to 21,590.14.

S&P 500 ends lower as Dell and Nvidia drop

Traders work on the floor of the New York Stock Exchange during morning trading on Tuesday in New York City. Michael M. Santiago / Getty Images The S&P 500 ended down from record highs on Friday, with losses in Dell, Nvidia and other AI-related stocks, while investors parsed inflation data showing tariffs have started feeding into prices. Dell tumbled almost 9% and was among the deepest decliners in the S&P 500 after high manufacturing costs for AI-optimized servers and intensifying competition overshadowed the company's bullish demand forecast for artificial intelligence infrastructure. Nvidia dipped 3.4%, down for a third straight day. The AI heavyweight's quarterly report on Wednesday fell short of investors' high expectations but confirmed that spending related to artificial intelligence infrastructure remains strong. "Today is just weakness in the top of the market, in tech," said Zachary Hill, head of portfolio management at Horizon Investments in Charlotte, North Carolina. "This is not the first time that we've had some worries about over-investment in AI, lack of monetization opportunities and that type of thing." U.S. consumer spending increased by the most in four months in July while services inflation picked up, but economists did not believe the signs of strong domestic demand would prevent the Federal Reserve from cutting interest rates next month against a backdrop of softening labor market conditions. The report from the Commerce Department on Friday showed mild price pressures from tariffs on imports. A U.S. tariff exemption for package imports valued under $800 also ended on Friday, raising costs for businesses and, in turn, consumers. Traders widely expect the Fed will cut interest rates by 25 basis points at its September meeting. "Even if we see an uptick in inflation, which it looks like we are, the Fed may look past that, given that this is going to be tariff-related and temporary," said Jim Smigiel, chief investment officer at SEI. The U.S. stock market will be closed on Monday for the Labor Day holiday. Expectations of interest rate cuts helped lead the benchmark S&P 500 and the blue-chip Dow to their fourth straight month of gains, while the tech-heavy Nasdaq logged its fifth consecutive monthly rise. U.S. shares of Alibaba soared 13% and were among the most-traded on Wall Street after the Chinese company reported stronger-than-expected quarterly growth in its cloud computing business, driven by AI-related demand. As well, the Wall Street Journal reported that Alibaba has developed a new AI chip. The S&P 500 declined 0.64% to end the session at 6,460.26 points a day after notching a record-high close. The Nasdaq declined 1.15% to 21,455.55 points, while the Dow Jones Industrial Average declined 0.20% to 45,544.88 points. Six of the 11 S&P 500 sector indexes rose, led by healthcare, up 0.73%, followed by a 0.64% gain in consumer staples. The S&P 500 technology index fell 1.63%. The Russell 2000 index of smaller companies dipped 0.5%, and it logged a 7% gain in August. For the month, the S&P 500 rose 1.9%, the Dow rose 3.2% and the Nasdaq added 1.6%. Fed Governor Christopher Waller, a candidate for the central bank's top job, said on Thursday he wants to start cutting rates next month, in line with President Donald Trump's calls to lower borrowing costs. A court hearing on Trump's attempt to fire Federal Reserve Governor Lisa Cook ended on Friday with no immediate ruling from the judge hearing the unprecedented legal fight, meaning the U.S. central bank policymaker will remain in place for now. Chipmaker Marvell slumped almost 19% after forecasting quarterly revenue below expectations. Global economy bellwether Caterpillar dropped 3.65% a day after the heavy-equipment maker forecast higher tariff-related expenses for 2025. Advancing issues outnumbered falling ones within the S&P 500 by a 1.3-to-one ratio. The S&P 500 posted 21 new highs and no new lows; the Nasdaq recorded 76 new highs and 67 new lows. Volume on U.S. exchanges was relatively light, with 14.8 billion shares traded, compared to an average of 16.4 billion shares over the previous 20 sessions.

S&P 500 notches record close; traders turn to Nvidia results

The S&P 500 achieved a record high close ahead of Nvidia's quarterly results, a key event testing the AI rally's valuation. While Nvidia's stock dipped slightly, its significant S&P 500 weighting makes its financial performance crucial. Investors are also monitoring potential interest rate cuts and political developments, including Trump's attempt to replace a Federal Reserve Governor. The S&P 500 notched a record high close on Wednesday ahead of quarterly results from Nvidia, Wall Street's most closely watched event this week, which will test the rally that has pushed valuations of AI-related companies to levels that some investors view as too high. Shares of Nvidia, the world's most valuable company and the leading supplier of cutting-edge AI processors, bounced between gains and losses before ending down 0.1% ahead of the report, due after the market closes. With Nvidia making up about 8% of the S&P 500, its financial results affect vast numbers of Americans who use index investment funds to save for retirement. "Nvidia is going to produce humongous revenue gains over the next nine months, on top of an already humongous revenue base," said Jed Ellerbroek, portfolio manager at Argent Capital. "Investors should prepare themselves for a world where Nvidia is a double-digit percentage of the S&P 500." Shares in tech and AI heavyweights were mixed, with Microsoft gaining nearly 1% and Meta Platforms dipping almost 1%. They, along with Alphabet and Amazon, are among Nvidia's biggest customers. Enthusiasm for companies related to AI has fueled big gains in technology stocks. The S&P 500 now trades at over 22 times expected earnings, its highest price-to-earnings ratio in four years, according to LSEG. Concerns about the pace of the AI rally increased last week after OpenAI CEO Sam Altman warned of a potential AI bubble. Nvidia options implied a roughly 6% swing for the shares in either direction following the results. Investors will closely watch the impact of the Sino-U.S. trade war on Nvidia's China business earlier this year, along with the effect on forecasts from its recent revenue-sharing deal with the U.S. government. The S&P 500 climbed 0.24% to end the session at 6,481.40 points, exceeding its previous record high close on August 14. The Nasdaq gained 0.21% to 21,590.14 points, while the Dow Jones Industrial Average rose 0.32% to 45,565.23 points. Eight of the 11 S&P 500 sector indexes rose, led by energy, up 1.15%, followed by a 0.48% gain in information technology. Investors were also watching for developments related to U.S. President Donald Trump's attempt to fire Federal Reserve Governor Lisa Cook, a move likely to face legal challenges. If Trump succeeds, he would nominate a replacement to the central bank's board who could be expected to back his policy preferences, challenging the central bank's independence. Investors are pricing in a 25-basis-point interest-rate cut in September, according to data compiled by LSEG, with most big brokerages also leaning in that direction. New York Federal Reserve Bank President John Williams said on CNBC it is likely interest rates can fall at some point but policymakers need to see upcoming economic data to decide if a rate cut is appropriate at the Fed's September meeting. MongoDB soared 38% after the software-maker raised its annual profit forecast. J.M. Smucker fell 4.4% after the Jif peanut butter maker missed first-quarter profit estimates. Advancing issues outnumbered falling ones within the S&P 500 by a 2.2-to-one ratio. The S&P 500 posted 28 new highs and 1 new lows; the Nasdaq recorded 127 new highs and 35 new lows. Volume on U.S. exchanges was relatively light, with 14.0 billion shares traded, compared to an average of 16.9 billion shares over the previous 20 sessions.

US stocks mixed as Dow sinks, S&P 500 nears record, Nasdaq rides AI boom -- Nvidia earnings jolt but GDP growth surprises Wall street

The U.S. stock market opened cautiously on 28 August 2025 as investors weighed the latest corporate earnings and key economic data. Nvidia's latest earnings shook Wall Street, the Dow dipped, and investors weighed signals from retail and the Fed. Traders are carefully monitoring earnings reports, GDP revisions, and inflation indicators to assess the Federal Reserve's likely next steps. The chart underscores the market's split personality: while the tech-heavy Nasdaq keeps climbing on AI momentum, the Dow's underperformance reflects broader economic and political uncertainties. The Dow Jones Industrial Average fell 0.2% during early trading. Select industrial and technology stocks contributed to the decline, signaling caution among investors. Nvidia's quarterly earnings played a key role. Although the company reported record revenue, its cautious guidance on future AI chip demand raised concerns among traders. Despite solid underlying U.S. economic growth, Dow investors are weighing potential slowdowns in certain sectors. This sensitivity to earnings news underscores how corporate performance is increasingly driving market sentiment. Key numbers for the Dow today: The Dow's muted performance today suggests that investors are taking a wait-and-see approach. Strong GDP growth provides confidence, but earnings-driven volatility keeps caution high. The S&P 500 stayed largely flat during trading, reflecting a balance between optimism over corporate results and caution about broader economic signals. Its stability indicates that investors are taking a patient approach, awaiting July's inflation figures to gauge the Federal Reserve's potential next moves. Sectors like consumer discretionary and industrials helped offset losses in technology and energy, stabilizing the index. Quick S&P 500 snapshot: The S&P 500's sideways movement today suggests that while there is confidence in economic fundamentals, traders remain sensitive to macroeconomic data that could impact interest rates. The Nasdaq 100 gained 0.2%, supported by select technology stocks even as Nvidia faced short-term selling pressure. Nvidia's earnings highlighted record sales in AI hardware, but its cautious outlook for future growth caused some investors to pull back. Other semiconductor and software companies absorbed the volatility, helping the Nasdaq maintain positive momentum. Investors are closely watching technology for signals on AI adoption trends, supply chain pressures, and profit margins. These factors will influence Nasdaq performance over the coming weeks. Nasdaq today: Tech earnings remain the main driver for Nasdaq performance, showing how closely the index is tied to sector-specific developments. Nvidia reported blockbuster numbers again, with second-quarter revenue surging 56% year-over-year to $46.7 billion. Earnings of $1.05 per share topped Wall Street estimates. Yet, the stock edged lower, slipping around 1% in early Thursday trading. The issue wasn't growth -- it was guidance and China. Nvidia projected $54 billion in revenue for the current quarter, only modestly above analyst expectations of $53.1 billion. Crucially, the forecast assumed zero sales of its H20 AI chips in China, highlighting regulatory and geopolitical hurdles. That omission rattled traders. Nvidia's data center revenue of $41.1 billion, which accounts for 88% of sales, came in a touch below estimates. For a stock that makes up about 8% of the S&P 500, even slight misses carry outsized market consequences. Despite the pullback, most analysts saw the sell-off as overdone. JPMorgan, Citi, and Bernstein all raised price targets after the report, underscoring confidence that Nvidia remains the linchpin of the AI boom. "Investors should be buying the pullback," said David Wagner of Aptus Capital Advisors, noting that Nvidia is still guiding 50%+ revenue growth at a $50 billion quarterly run rate. Other chipmakers bounced back quickly: Broadcom and Micron both rose about 2%, while AI-focused Snowflake jumped 19% after its own earnings beat. For now, the market is still treating Nvidia as validation of the AI-driven rally, not the end of it. The Dow Jones Industrial Average fell 80 points (0.2%), pressured by Nvidia and mixed retail earnings. The S&P 500 was little changed, hovering near Wednesday's record high, while the Nasdaq rose 0.2%, buoyed by tech resilience. Other market indicators: The GDP revision surprised economists, with Q2 growth revised higher to 3.3% annualized, topping expectations of 3.1%. That reinforced the resilience of the U.S. economy, even as markets await Friday's PCE inflation report, expected at 0.2% monthly and 2.6% annual. Earnings from major U.S. retailers added more texture to Thursday's trading session: The political spotlight fell on the Federal Reserve, where Governor Lisa Cook sued President Trump after he attempted to fire her earlier this week. The lawsuit, filed in Washington, D.C., argues the move is "unprecedented and illegal." Markets so far have largely shrugged off the political drama, but any prolonged conflict over Fed independence could inject volatility, particularly with inflation data and future interest rate moves still central to investor confidence. These stocks are shaping market movements today, with tech driving Nasdaq gains and industrials influencing the Dow's performance. Here's a quick look at today's trading figures: The market's next big test arrives Friday with the July PCE inflation report, the Fed's preferred gauge. A hotter-than-expected reading could revive rate hike fears, while a softer print may extend the stock market's record-setting rally. For now, traders remain focused on: Investors should remain alert to these factors, as they are likely to dictate short-term trends and investment opportunities. What caused the Dow to slide in today's trading? The Dow slipped due to cautious guidance from Nvidia's earnings, which raised concerns about future tech demand, along with selective weakness in industrial and tech stocks. Why is the Nasdaq rising despite Nvidia's volatility? The Nasdaq gained because other tech and semiconductor companies absorbed the selling pressure, showing resilience in the sector even as Nvidia faced short-term declines. (You can now subscribe to our Economic Times WhatsApp channel)

US stock market: S&P 500 falls from all-time highs, Dow Jones, Nasdaq down as Nvidia, Dell, AI-related stocks suffer big losses

US Stock market closed in red ahead of Labor day 2025 holiday. S&P 500 lost 41.50 points, or 0.64 per cent, to end at 6,460.36 points, while the Nasdaq Composite lost 249.61 points, or 1.15 per cent, to 21,455.55. The Dow Jones Industrial Average fell 91.12 points, or 0.20 per cent, to 45,546.08. US Stock Market lost ground on Wall Street a day after the market hit its latest all-time highs. The S&P 500 fell 0.6 per cent on Friday. The index ended August up 1.9 per cent, its fourth straight month of gains. The Dow Jones Industrial Average fell 92 points, or 0.2 per cent. The Nasdaq composite fell 1.2 per cent. U.S. stock market will be closed on Monday for the Labor Day holiday. S&P 500 ended down from record highs on Friday, with losses in Dell, Nvidia and other AI-related stocks, while investors parsed inflation data showing tariffs have started feeding into prices. Dell tumbled and was among the deepest decliners in the S&P 500 after high manufacturing costs for AI-optimized servers and intensifying competition overshadowed the company's bullish demand forecast for artificial intelligence infrastructure. Nvidia dipped for a third straight day. The AI heavyweight's quarterly report on Wednesday fell short of investors' high expectations but confirmed that spending related to artificial intelligence infrastructure remains strong. Traders widely expect the Fed will cut interest rates by 25 basis points at its September meeting. "Even if we see an uptick in inflation, which it looks like we are, the Fed may look past that, given that this is going to be tariff-related and temporary," said Jim Smigiel, chief investment officer at SEI. Expectations of interest rate cuts helped lead the benchmark S&P 500 and the blue-chip Dow to their fourth straight month of gains, while the tech-heavy Nasdaq logged its fifth consecutive monthly rise. U.S. shares of Alibaba soared and were among the most-traded on Wall Street after the Chinese company reported stronger-than-expected quarterly growth in its cloud computing business, driven by AI-related demand. As well, the Wall Street Journal reported that Alibaba has developed a new AI chip. According to preliminary data, the S&P 500 lost 41.50 points, or 0.64 per cent, to end at 6,460.36 points, while the Nasdaq Composite lost 249.61 points, or 1.15 per cent, to 21,455.55. The Dow Jones Industrial Average fell 91.12 points, or 0.20 per cent, to 45,546.08. Fed Governor Christopher Waller, a candidate for the central bank's top job, said on Thursday he wants to start cutting rates next month, in line with President Donald Trump's calls to lower borrowing costs. A court hearing on Trump's attempt to fire Federal Reserve Governor Lisa Cook ended on Friday with no immediate ruling from the judge hearing the unprecedented legal fight, meaning the U.S. central bank policymaker will remain in place for now. Chipmaker Marvell slumped after forecasting quarterly revenue below expectations. Global economy bellwether Caterpillar dropped a day after the heavy-equipment maker forecast higher tariff-related expenses for 2025. Q1. How have US Stock Market indexes performed? A1. According to preliminary data, the S&P 500 lost 41.50 points, or 0.64 per cent, to end at 6,460.36 points, while the Nasdaq Composite lost 249.61 points, or 1.15 per cent, to 21,455.55. The Dow Jones Industrial Average fell 91.12 points, or 0.20 per cent, to 45,546.08. Q2. How has S&P 500 closed? A2. S&P 500 ended down from record highs on Friday, with losses in Dell, Nvidia and other AI-related stocks, while investors parsed inflation data showing tariffs have started feeding into prices. (You can now subscribe to our Economic Times WhatsApp channel)

Global stocks decline with tech shares; dollar weakens as Fed rate cut in view

Major stock indexes declined on Friday, led by a tech selloff triggered by Dell's disappointing AI server costs. U.S. inflation data aligned with expectations, bolstering hopes for Federal Reserve interest rate cuts in September, influencing currency and treasury markets. European shares also fell, while investors await upcoming U.S. jobs data and monitor developments regarding a Fed Governor's job security. Major stock indexes fell on Friday, with technology shares including Dell Technologies leading declines, while the dollar weakened against the euro after U.S. inflation data kept alive expectations of a September interest rate cut. Dell dropped 8.9% after it reported results late Thursday that included high manufacturing costs for artificial intelligence-optimized servers. Other AI-related shares fell in the broader tech selloff including Nvidia, down 3.3%, and Broadcom, down 3.6%. The Nasdaq fell more than 1% and the S&P 500 technology index fell 1.6%. The U.S. Commerce Department said on Friday its Personal Consumption Expenditures Price Index (PCE) rose 0.2% in July, versus an unrevised 0.3% increase in June and matching the estimate of economists polled by Reuters. In the 12 months through July, PCE inflation increased 2.6% after climbing 2.6% in June. Stripping out the volatile food and energy components, the so-called core PCE Price Index increased 0.3% last month. That followed a 0.3% rise in core inflation in June. "You have to love it when a plan comes together. Today's numbers on both the personal consumption, expenditure, and income, and spending, were right down the middle of the fairway," Art Hogan, chief markets strategist for B. Riley Wealth in Boston, said via email. "This leaves the door wide open for the Fed to cut rates in September and likely again in October and in December." Traders are now pricing in 89% odds of a cut by the Federal Reserve next month, up from 84% before the data. Traders had increased bets on more cuts after Fed Chair Jerome Powell last Friday adopted an unexpectedly dovish tone. The euro was last up 0.11% at $1.1696. The dollar index, which measures the greenback against a basket of currencies, fell 0.09% to 97.79. The Dow Jones Industrial Average fell 92.02 points, or 0.20%, to 45,544.88, the S&P 500 fell 41.60 points, or 0.64%, to 6,460.26 and the Nasdaq Composite fell 249.61 points, or 1.15%, to 21,455.55. "Today is just weakness in the top of the market, in tech," said Zachary Hill, head of portfolio management at Horizon Investments in Charlotte, North Carolina. For the month, the S&P 500 rose 1.9%, the Dow rose 3.2% and the Nasdaq added 1.6%. Major U.S. financial markets will be closed for the Labor Day holiday on Monday. European shares closed lower, hitting their lowest in over two weeks, weighed down by British banks. Data released on Friday also showed French consumer prices rose slightly less than anticipated in August while Spain's European Union-harmonized 12-month inflation rate was steady at 2.7%. MSCI's gauge of stocks across the globe fell 4.77 points, or 0.50%, to 951.57. The pan-European STOXX 600 index fell 0.64%. In Treasuries, longer-dated yields edged higher as traders closed positions ahead of the long weekend and repositioned for month-end. The yield on benchmark U.S. 10-year notes rose 1.6 basis points to 4.223%. The two-year note yield was last down 1.6 basis points on the day at 3.619%. It has fallen 33 basis points this month, the most in a year. Fed Governor Christopher Waller on Thursday said he wanted to start cutting interest rates next month and "fully expects" more rate cuts to follow, to bring the Fed's policy rate closer to a neutral setting. Investors are keen to see U.S. jobs data for August, which is due next Friday. They also are watching for more news on U.S. President Donald Trump's attempt to fire Fed Governor Lisa Cook. A federal judge said on Friday she would set an expedited briefing schedule in Cook's bid to temporarily block Trump from firing her while she pursues a lawsuit that says he has no valid reason to remove her. Oil prices were lower. U.S. crude fell 59 cents to settle at $64.01 a barrel and Brent declined 50 cents to settle at $68.12. Spot gold rose 0.88% to $3,446.75 an ounce.

S&P 500 ends lower as Dell and Nvidia drop

The S&P 500 retreated from record highs on Friday, dragged down by losses in AI-related stocks like Dell and Nvidia, as investors analyzed inflation data reflecting the impact of tariffs. Alibaba's U.S. shares surged following a strong cloud computing report. The S&P 500 ended down from record highs on Friday, with losses in Dell, Nvidia and other AI-related stocks, while investors parsed inflation data showing tariffs have started feeding into prices. Dell tumbled almost 9% and was among the deepest decliners in the S&P 500 after high manufacturing costs for AI-optimized servers and intensifying competition overshadowed the company's bullish demand forecast for artificial intelligence infrastructure. Nvidia dipped 3.4%, down for a third straight day. The AI heavyweight's quarterly report on Wednesday fell short of investors' high expectations but confirmed that spending related to artificial intelligence infrastructure remains strong. "Today is just weakness in the top of the market, in tech," said Zachary Hill, head of portfolio management at Horizon Investments in Charlotte, North Carolina. "This is not the first time that we've had some worries about over-investment in AI, lack of monetization opportunities and that type of thing." U.S. consumer spending increased by the most in four months in July while services inflation picked up, but economists did not believe the signs of strong domestic demand would prevent the Federal Reserve from cutting interest rates next month against a backdrop of softening labor market conditions. The report from the Commerce Department on Friday showed mild price pressures from tariffs on imports. A U.S. tariff exemption for package imports valued under $800 also ended on Friday, raising costs for businesses and, in turn, consumers. Traders widely expect the Fed will cut interest rates by 25 basis points at its September meeting. "Even if we see an uptick in inflation, which it looks like we are, the Fed may look past that, given that this is going to be tariff-related and temporary," said Jim Smigiel, chief investment officer at SEI. The U.S. stock market will be closed on Monday for the Labor Day holiday. Expectations of interest rate cuts helped lead the benchmark S&P 500 and the blue-chip Dow to their fourth straight month of gains, while the tech-heavy Nasdaq logged its fifth consecutive monthly rise. U.S. shares of Alibaba soared 13% and were among the most-traded on Wall Street after the Chinese company reported stronger-than-expected quarterly growth in its cloud computing business, driven by AI-related demand. As well, the Wall Street Journal reported that Alibaba has developed a new AI chip. The S&P 500 declined 0.64% to end the session at 6,460.26 points a day after notching a record-high close. The Nasdaq declined 1.15% to 21,455.55 points, while the Dow Jones Industrial Average declined 0.20% to 45,544.88 points. Six of the 11 S&P 500 sector indexes rose, led by healthcare , up 0.73%, followed by a 0.64% gain in consumer staples . The S&P 500 technology index fell 1.63%. The Russell 2000 index of smaller companies dipped 0.5%, and it logged a 7% gain in August. For the month, the S&P 500 rose 1.9%, the Dow rose 3.2% and the Nasdaq added 1.6%. Fed Governor Christopher Waller, a candidate for the central bank's top job, said on Thursday he wants to start cutting rates next month, in line with President Donald Trump's calls to lower borrowing costs. A court hearing on Trump's attempt to fire Federal Reserve Governor Lisa Cook ended on Friday with no immediate ruling from the judge hearing the unprecedented legal fight, meaning the U.S. central bank policymaker will remain in place for now. Chipmaker Marvell slumped almost 19% after forecasting quarterly revenue below expectations. Global economy bellwether Caterpillar dropped 3.65% a day after the heavy-equipment maker forecast higher tariff-related expenses for 2025. Advancing issues outnumbered falling ones within the S&P 500 by a 1.3-to-one ratio. The S&P 500 posted 21 new highs and no new lows; the Nasdaq recorded 76 new highs and 67 new lows. Volume on U.S. exchanges was relatively light, with 14.8 billion shares traded, compared to an average of 16.4 billion shares over the previous 20 sessions.

US stock futures fall as Nvidia earnings jolt shakes Nasdaq while Dow stays resilient

U.S. stock futures slipped early Thursday as Nvidia's earnings jolt rippled through global markets, sending the Nasdaq and S&P 500 lower while the Dow held slightly positive. Despite beating Wall Street estimates on both revenue and profit, Nvidia's weaker data center sales and cautious outlook on China sparked doubts about whether the AI boom can keep powering growth at the same pace. The reaction underscored just how much influence Nvidia holds over broader equity sentiment, with tech-heavy indexes showing the sharpest pullback as investors reassessed lofty valuations avcross the sector. Nvidia's quarterly earnings once again outpaced analyst forecasts. Revenue came in strong, and profits easily beat Wall Street's consensus. On the surface, it looked like another blockbuster report from the AI chip giant. But markets don't just trade on the past -- they trade on expectations. Despite the solid numbers, Nvidia's shares slipped in after-hours trading. The reason? Investors spotted cracks in the growth story. The company's data center division, the powerhouse of its AI-driven expansion, showed softer results than expected. At the same time, executives struck a cautious tone on China, warning that export restrictions on high-end chips were beginning to weigh on sales. For traders who had priced Nvidia for near-perfection, this was enough to trigger doubt. Few companies hold as much sway over the stock market as Nvidia. It's not just another tech stock -- it's the face of the AI revolution, a key driver of the Nasdaq 100, and one of the most valuable companies in the world. That's why the earnings reaction rippled beyond Nvidia itself: In short, Nvidia's numbers raised a broader question: can AI growth alone keep driving stock indexes higher, or is Wall Street finally reaching a tipping point on valuations? The divergence between the indexes after Nvidia's earnings offers an important signal. For investors, this means volatility may cluster in technology and semiconductor plays, while more traditional sectors see relative stability. During the earnings call, Nvidia's warning on China stood out. U.S. export controls on advanced GPUs have started to bite, and the company admitted this would limit future sales in one of its largest markets. Why does this matter? For investors, this isn't just about quarterly revenue. It raises deeper questions about the stability of the global AI supply chain and how geopolitics can shape corporate growth. The shockwaves from Nvidia's cautious guidance didn't stay in the U.S. Asia-Pacific markets followed Wall Street lower, with semiconductor-heavy economies like Japan and South Korea particularly sensitive to the news. European futures also suggested a softer open. Traders there are asking the same question investors in New York are wrestling with: if Nvidia -- the undisputed leader of the AI boom -- is flashing warning signs, how sustainable is the sector's valuation? This spillover shows that Nvidia is no longer just a company story. It's a global sentiment barometer for technology, AI, and risk appetite. The pullback in Nvidia doesn't necessarily mean the AI trade is over. The company remains immensely profitable and still leads the chip market. But the report forces investors to confront whether the AI boom can keep delivering uninterrupted growth. For short-term traders, the earnings release means volatility is likely to remain elevated, especially in Nasdaq futures and semiconductor ETFs. For long-term investors, the question is whether this is a temporary cooling period or the beginning of a more mature growth phase for AI stocks. Several upcoming indicators will help answer whether Nvidia's stumble is an isolated event or part of a larger shift: Nvidia's latest earnings highlight a paradox. The company beat forecasts, yet its stock slid because expectations were simply too high. That disappointment pulled Nasdaq and S&P 500 futures lower, while the Dow managed to hold ground. This isn't just a one-day hiccup. It's a test of whether the AI-fueled rally that has powered markets for the past year can keep momentum in the face of softer growth signals and geopolitical uncertainty. 1: Why did US stock futures fall after Nvidia's earnings? Futures slipped because Nvidia's weaker data center revenue and cautious China outlook raised doubts about continued AI-driven growth, pressuring Nasdaq and S&P 500. 2:Why did the Dow stay resilient while Nasdaq fell? The Dow is less exposed to tech stocks and more weighted toward industrials and financials, making it steadier when tech-led selloffs hit the Nasdaq.

S&P 500 notches record close; traders turn to Nvidia results

STORY: U.S. stocks ended higher on Wednesday, with the Dow adding about a third of a percent, the S&P 500 gaining roughly a quarter of a percent to close at a record high, and the Nasdaq ticking up about two-tenths of a percent. Investors were laser-focused on earnings from Nvidia after the market close, which forecast third-quarter revenue above Wall Street estimates helped by robust demand for its artificial intelligence chips from cloud providers. Shares of the chip maker, however, fell in extended trading. Rob Haworth, senior investment strategy director at U.S. Bank Asset Management Group, said that despite periodic pullbacks among AI-related stocks, they remain the market's main drivers. "Artificial intelligence is a really important investment theme for this market, and it's almost a secular one in that we've seen so much investment. And that investment continues, and it's broadening out, right? It's no longer just the people creating the software or creating the generative AI engines. It's into data centers, power utility companies, right? How and into how they are used. So this is a trend that looks like it's here to continue." Shares of tech and other AI heavyweights were mixed Wednesday, with Microsoft gaining nearly 1% and Meta Platforms dipping almost 1%. Among other movers, MongoDB soared 38% after the software-maker raised its annual profit forecast. And shares of J.M. Smucker fell nearly four-and-a-half percent after the Jif peanut butter maker missed first-quarter profit estimates.

European Equities Close Mixed in Thursday Trading; EU Economic Sentiment Declines

Markets have an uncanny way of revealing the contradictions that lie at the heart of geopolitics. Nowhere is that tension more obvious than in the fate of Nvidia, the Silicon Valley powerhouse that has become Wall Street's proxy for artificial intelligence itself. On Thursday, the company's shares slipped in premarket trading, a modest decline that nonetheless sent a chill through the technology complex. The reason? China. Or, more precisely, the inability of a trillion-dollar firm to map its commercial destiny against the backdrop of a deteriorating Sino-American relationship.

Daily Roundup of Key US Economic Data for Aug. 28

Markets have an uncanny way of revealing the contradictions that lie at the heart of geopolitics. Nowhere is that tension more obvious than in the fate of Nvidia, the Silicon Valley powerhouse that has become Wall Street's proxy for artificial intelligence itself. On Thursday, the company's shares slipped in premarket trading, a modest decline that nonetheless sent a chill through the technology complex. The reason? China. Or, more precisely, the inability of a trillion-dollar firm to map its commercial destiny against the backdrop of a deteriorating Sino-American relationship.