On Wednesday, August 28, the U.S. stocks ended lower as investors awaited Nvidia's key quarterly report, which could impact the AI-driven market rally. Nvidia's shares dipped 2.1%, though they've surged 154% this year. The report follows concerns about rising spending by tech giants like Microsoft and Alphabet in the AI sector.
Economic data shows that U.S. mortgage applications increased by 0.5% during the week ending August 23 compared to the previous week.
Out of the 11 S&P 500 sector indexes, eight declined, led by information technology and consumer discretionary, while financials and healthcare stocks bucked the trend, closing the session higher.
Related: Nvidia Q2 Earnings, Guidance Top Street View As AI Fuels Record Data Center Revenue: Gross Margin Falls Quarter-Over-Quarter, Stock Drops
The Dow Jones Industrial Average was down 0.39% and closed at 41,091.42. The S&P 500 ended the day lower by 0.60% at 5,592.20, and the Nasdaq Composite fell 1.12%, finishing the session at 17,556.03.
Asian Markets Today
- On Thursday, Japan's Nikkei 225 closed lower by 0.05% at 38,357.50, led by losses in the Paper & Pulp, Mining and Chemical, Petroleum & Plastic sectors.
- Australia's S&P/ASX 200 ended lower by 0.33% at 8,045.10, led by losses in the Energy, Consumer Discretionary, and Consumer Staples sectors.
- India's Nifty 50 gained 0.40%, closing at 25,151.95, and the Nifty 500 closed higher by 0.07% at 23,631.40.
- China's Shanghai Composite was down 0.50%, ending the session at 2,823.11, and the Shenzhen CSI declined 0.27%, closing at 3,277.68.
- Hong Kong's Hang Seng ended the session higher by 0.53% at 17,786.32.
Eurozone at 06:15 AM ET
- The European STOXX 50 index gained 0.87%.
- Germany's DAX rose 0.62%.
- France's CAC was up 0.71%.
- U.K.'s FTSE 100 index traded higher by 0.34%.
Commodities at 06:15 AM ET
- Crude Oil WTI was trading higher by 0.05% at $74.56/bbl, and Brent was down 0.09% at $77.51 bbl.
- Natural Gas gained 0.33% to $2.104.
- Gold was trading higher by 0.71% at $2,555.80, Silver gained 1.18% to $29.977, and Copper fell 0.46% to $4.1980.
US Futures at 06:15 AM ET
Dow futures were up 0.51%, S&P 500 futures gained 0.33%, and Nasdaq 100 Futures rose 0.49%.
Forex at 06:15 AM ET
The U.S. dollar index rose 0.09% to 101.19, the USD/JPY was down 0.05% to 144.51, and the USD/AUD declined 0.50% to 1.4666.
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