Reported 8 months ago
On Monday, US stocks mostly rose with the Dow Jones Industrial Average jumping 1% and the S&P 500 rising 0.3%, but Nvidia's continued slide caused the Nasdaq Composite to fall about 0.4%. Nvidia's stock declined over 11% from its all-time high, contributing to the tech-heavy Nasdaq's drop. Investors rotated out of Nvidia and into defensive sectors like energy and financials, driving a more than 2% gain for the S&P 500 Energy Select ETF (XLE) and over 1% rise for Financials (XLF). Bitcoin also experienced a more than 4% decline, hovering above $61,000 per token, while the S&P 500 edged higher and the Nasdaq remained around the flatline as Nvidia fell over 3%. The upcoming focus lies on economic indicators like the Personal Consumption Expenditures index, anticipating a potential impact on Fed rate cut expectations.
Source: YAHOO