As the stock market prepares for the Federal Reserve’s two-day policy meeting, futures for the Dow Jones, S&P 500, and Nasdaq 100 remained relatively steady. Nvidia, a top performer, experienced a setback while Apple faced a significant sell-off in the market.
Late Monday, Intel saw an 8% surge following the announcement of an expanded collaboration with Amazon Web Services. This move could potentially lead to advancements in AI technology, with Intel developing custom chips for AWS.
The Federal Reserve’s upcoming interest rate decision on Wednesday, along with the release of the U.S. retail sales report on Tuesday, are key events to watch this week. Earnings reports from companies like FedEx, Darden Restaurants, and Lennar will also provide insights into economic trends.
Nvidia and Apple both faced challenges in the market as their stocks dipped below key moving averages. This may necessitate further consolidation and support for these companies to regain their momentum.
In the broader market, the Dow Jones reached a new high on Monday, with strong performances from Costco Wholesale, DoorDash, and Taiwan Semiconductor Manufacturing. Stocks like Home Depot and Taiwan Semi are showing signs of potential breakouts, while others like Uber Technologies are near buy points.
Companies like Alphabet and Tesla showcased mixed performance on Monday, with Alphabet rebounding and Tesla facing a minor decline after a recent rally. Amazon and Microsoft, Dow Jones leaders, are forming bases and exhibiting positive momentum.
Overall, it’s essential for investors to stay informed about market movements, earnings reports, and key events to make informed decisions in the current economic landscape.
