Nvidia, megacaps power strong Nasdaq recovery; Dow pulls back
) and other megacaps, while the Dow slipped as investors awaited a crucial inflation print this week for further cues on the U.S. monetary policy path.
"The Nvidia story is currently more of a technical one, and not necessarily fundamental. It could be a great stock in the long run, but investors just need to be cautious," said Cetera Investment Management's chief market strategist, Brian Klimke.The recent pullback in tech and tech-adjacent stocks had prompted investors to lap up lagging sectors, with utilities and energy enjoying strong gains on Monday.
The most-anticipated event of the week is the personal consumption expenditures price index - the Fed's preferred inflation gauge - on Friday. Declining issues outnumbered advancers for a 2.05-to-1 ratio on the NYSE and for a 1.46-to-1 ratio on the Nasdaq.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dow falls 300 points, Nasdaq tumbles as Nvidia wavers: Live updatesStocks slid Wednesday, as a pullback in artificial intelligence darling Nvidia took away one of the last few bright spots for traders.
Read more »
CNBC Daily Open: Dow drops, Nvidia can't save NasdaqConocoPhillips is set to buy Marathon Oil in a $17 billion deal that would boost its portfolio.
Read more »
CNBC Daily Open: Dow drops, Nvidia can't save NasdaqConocoPhillips is set to buy Marathon Oil in a $17 billion deal that would boost its portfolio.
Read more »
CNBC Daily Open: Dow drops, Nvidia couldn't save NasdaqS&P 500 ends three-day winning streak, Salesforce plunges on revenue and forecast and Peltz sells entire Disney stake.
Read more »
CNBC Daily Open: Dow drops, Nvidia couldn't save NasdaqS&P 500 ends three-day winning streak, Salesforce plunges on revenue and forecast and Peltz sells entire Disney stake.
Read more »
CNBC Daily Open: Dow jumps as investors rotate out of tech; Nvidia sinksThe Dow Jones Industrial Average rose 260 points as investors rotated out of technology and into banking and energy stocks, such as Goldman Sachs and Chevron.
Read more »