MTH - Stocks Lack Direction As Traders Remain Cautious Ahead Of Fed Meeting Nvidia Falls On Export Controls: What's Driving Markets Tuesday? | Benzinga
Risk sentiment has encountered a setback following Monday’s rally, as stocks on Wall Street grapple with challenges in generating fresh gains. This comes as traders gear up for the Federal Open Market Committee meeting commencing Tuesday. The Fed will unveil its latest interest rate decision and Chair Jerome Powell’s remarks tomorrow.
NVIDIA Corp. (NASDAQ:NVDA) fell 2.2% in response to a report suggesting the chipmaker might have to cancel advanced chip orders worth up to $5 billion for China due to new U.S. government restrictions.
Cues From Tuesday's Trading
The S&P 500 rose 0.2%, while both blue-chip stocks in the Dow Jones Industrial Average and tech stocks in the Nasdaq 100 were flat for the day. Small caps in the Russell 2000 jumped 0.9%.
US Index Performance On Tuesday
Index Performance (+/-) Value
Nasdaq 100 -0.01% 14,335.09
S&P 500 Index +0.23% 4,178.86
Dow Industrials +0.03% 32,937.19
Russell 2000 +0.87% 1,660.18
Analyst Color
“The market climbs a wall of worry, so there is always something to scare investors,” said LPL Financial strategists Jeffrey Buchbinder, Lawrence Gillum, Quincy Krosby and Jeffrey Roach.
“Today investors may feel like that wall is ...