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US Stock Markets Fluctuate Amid Nvidia (NASDAQ: NVDA) Declines and Anticipated Economic Updates

Today market analysis on behalf of Milad Azar Market Analyst at XTB MENA


June 24, 2024 ( Newswire) The US stock market opened mixed today following a recent downturn over the last two sessions. Notably, Nvidia, a major market player, has experienced a significant sell-off, dropping 4% last week after consecutive daily declines exceeding 3% each. This trend continues as Nvidia follows a slide over the past two sessions after briefly becoming the world's most valuable company last week, potentially impacting today's market performance, particularly within the technology sector.

Investors are closely monitoring several key events this week. The highlight is Friday's release of the Personal Consumption Expenditures (PCE) price index report, the Federal Reserve's preferred inflation gauge. It is anticipated to indicate a moderation in price pressures, which could pave the way for the Fed to consider interest rate cuts in the upcoming months. Additionally, remarks from San Francisco Fed President Mary Daly, a voting member of this year's Federal Reserve Committee, are eagerly awaited, along with speeches from other committee members later in the week.

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