Traders walk on the floor during morning trading on the New York Stock Exchange on May 14, 2024.
Spencer Platt | Getty Images
the Nasdaq Composite It fell slightly on Tuesday, retreating from the record levels seen in the previous session, as well Nvidia It fell a day before its key earnings report.
Louie Shares rose 2% after the home improvement retailer reported better-than-expected first-quarter earnings and revenue.
Palo Alto Networks It decreased about 7%. Despite beating expectations for both lines in its fiscal third quarter, the cybersecurity company provided current-quarter guidance that was only in line with consensus expectations of analysts surveyed by LSEG.
The moves come after a mixed day on Wall Street. The Nasdaq Composite posted a new intraday high and a higher close Nvidia. The S&P 500 rose nearly 0.1%.
But the leading Dow Jones index fell by about 200 points, affected by a 4.5% decline. C. B. Morgan Chase After CEO Jamie Dimon said that his retirement may be sooner than expected and that the financial giant will not buy back many shares at their current prices.
Monday's action comes after a notable week on Wall Street amid renewed hopes about the state of inflation and monetary policy. The Dow Jones ended Monday's session below the closely watched 40,000 level, after closing above it for the first time last week.
“The disinflation narrative remains intact,” said Keith Buchanan, portfolio manager at Global Investments.
He added: “The market will continue to rise if profits can confirm the stability of companies' profitability.” But “it could lead to a market where we might be somewhat limited, and we might even drift down.”
Investors will be watching speeches from several Fed spokespeople including Richmond Fed President Tom Barkin and Atlanta Fed President Raphael Bostic. Traders will be closely watching for any idea of the future path of interest rates.
