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US Stocks Mixed as Investors Await Fed Minutes and Nvidia's Earnings

Today's markets analysis on behalf of Joseph Dahrieh, Managing Principal at Tickmill

 

May 21, 2024 (Investorideas.com Newswire) The US stock market opened with mixed performances today, following a session in which the Nasdaq 100 and other indices reached an all-time high, buoyed by the broader market's optimism about potential rate cuts. However, markets continue to monitor Federal Reserve officials' comments who continue to take a cautious stance toward monetary policy and inflation. Tomorrow's release of Federal Reserve minutes could also affect investors' expectations and the market direction. Market focus is also directed towards tomorrow's earnings results from Nvidia as investors continue to see AI as a stronger driver of growth for the economy and the stock market as a whole. Other earnings releases have affected the market as well. Shares of Lowe's declined after the home improvement retailer reported weaker margins for its first-quarter earnings report. Palo Alto Networks saw a decline as well after the cybersecurity company issued guidance that only met consensus forecasts, despite surpassing expectations for both revenue and earnings in the fiscal third quarter.

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