Markets Mixed Amid Earnings Reports and Middle East Tensions
The S&P 500 and the Dow were set for a slightly higher opening on Monday, driven by Nvidia earnings and an upcoming inflation report. Investors were also anxious about potential oil supply disruptions from the Middle East. Market indices saw gains following Federal Reserve Chair Jerome Powell's comments on easing borrowing costs.
The S&P 500 and the Dow were positioned for a slightly higher open on Monday, with close attention to Nvidia's results and an upcoming inflation report. Investors remained jittery over potential disruptions to oil supplies from the Middle East.
Federal Reserve Chair Jerome Powell's comments on easing borrowing costs were welcomed by the markets. The main indexes rallied over 1% in the previous session, with the S&P 500 and Dow nearing record highs. Traders are now estimating a possible rate cut in September, according to data from the CME Group's Fed Watch tool.
Notable movements included Nvidia's flat trading, with investors eagerly anticipating its earnings report amid a 160% year-to-date stock increase. Oil companies like Exxon and Occidental Petroleum surged on fears of supply disruptions, while China's PDD Holdings saw a significant drop after missing revenue expectations.
(With inputs from agencies.)
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