Stock market down today: Dow, Nasdaq, S&P slip, Nvidia falls ahead of earnings report
Investors’ focus remains sharply focused on upcoming Federal Reserve decisions, delayed economic data, and major earnings reports that are expected to drive market sentiment in the near term.
Heavyweight Alphabet posted notable gains, rising nearly 3.1% to $285.60 per share, on the back of rising shares of Berkshire Hathaway. The stock traded between $284.23 and $294.50, reaching an almost 52-week high.
Nvidia’s shares fell over 2%; This reflects market anxiety ahead of the next earnings report and concerns about the sustainability of demand for AI hardware.
Investors are also closely watching the September nonfarm payrolls report, the first major economic data released after the U.S. government shutdown, and the Federal Reserve’s October meeting minutes, which, although a bit outdated, could provide some clarity during this data lull.
Market expectations for a Fed rate cut in December have faded, with futures traders pricing in a roughly 45% chance compared to the 60-70% range priced in early October, according to CME FedWatch tool data. Bitcoin recently dropped over 2%, falling below the critical $95,000 level for the first time since early May; This signals reduced risk appetite among investors and potentially weakening sentiment in the technology sector. This bearish move comes amid a broader market correction, with the S&P 500 losing more than 2% in November after six consecutive months of gains. While the index is now more than 3 percent below its all-time high, the tech-heavy Nasdaq has fallen more sharply, falling more than 5 percent from its peak.
This trend highlights investors’ continued caution about technology and related speculative assets. A trio of earnings reports from Nvidia, Walmart and Home Depot are likely to bring clarity to corporate margins amid economic headwinds.
Q: What important events are investors watching for?
A: Upcoming meetings of the Federal Reserve, the clearing of the economic data backlog, and especially big corporate earnings from artificial intelligence and retail giants.
