Wall Street experienced mixed trading on Monday as markets prepared themselves for key earnings reports from chip giant Nvidia and major US retailers.
Following the longest government shutdown in US history, which saw various economic data reports put on hold, markets are also awaiting the release of backlogged figures – allowing investors to gauge the health of the US economy.
Besides Nvidia, top US retailers Walmart, Home Depot, and Target are also due to release their earnings reports later this week. These results will be closely watched for signs of how consumers are coping as President Donald Trump’s tariffs take effect.
The official figures on non-farm payrolls for September are also scheduled for release on Thursday.
Market participants will also be eagerly anticipating the minutes from the Federal Reserve’s October policy meeting as they assess the probability of further interest rate reductions.
As of 9:35 AM Eastern Time, the S&P 500 was virtually unchanged, the Dow Jones Industrial Average was also flat, and the Nasdaq Composite was 0.1% higher.
In the bond market, the yield on the 10-year Treasury was steady at 4.14%.
Key Stock Movers
Alphabet stock jumped 5.2% after Berkshire Hathaway announced it built a $4.34 billion ownership stake in Google’s parent company.
Nvidia shares fell 1.3% as investors await its financial results due on Wednesday.
Aramark dropped 6% after the company reported a quarterly profit fell short of Wall Street expectations.
