New York stock exchanges closed without a single signal this Monday (8), following quarterly financial results. Downward adjustment to Nvidia’s revenue forecast gave the company the worst unemployment on the Nasdaq for the session. The negotiations are still taking place on the eve of the result of the consumer price index (CPI) of the United States, to be released on Wednesday, 10.
At the close, the Dow was up 0.09% to 32,832.54 points, the S&P 500 was down 0.12% to 4,140.06 points and the Nasdaq down 0.10% to 12,644.46 points.
Nvidia shares tumbled 6.30% after the company revised down revenue for the second fiscal quarter of 2023 from $8.1 billion to $6.7 billion, in preliminary financial results released on Monday. . The company was the worst performer on the Nasdaq, while the technology sector, of which it is a part, led the decline in the S&P 500.
The Dow Jones, in turn, secured advance with a 2.33% rise from Walt Disney, which publishes its most recent balance sheet on Wednesday, followed by the Dow Chemical Company (+1.28%) and Merck & Co (+ 1.24%). With an eye on the approval of the climate package in the US Senate and the incentive for electric vehicles, General Motors (+4.16%) and Ford (+3.14%) advanced.
The negotiations take place on the eve of the US CPI for July. The result of the economic indicator may consolidate expectations of a 75 basis point increase by the Federal Reserve (Fed, the US central bank) at the next monetary meeting, in September, says Oxford Economics. With the job market robust, as shown in the payroll report, the focus should be on inflation.
Source: CNN Brasil
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