Wall Street Flat as Investors Await NVIDIA Earnings
Wall Street started the new week mostly flat, following a tough week for tech stocks — their worst since April. Investors are staying cautious as they wait for a wave of upcoming economic data and NVIDIA’s earnings report, which is expected on Wednesday.
NVIDIA (NASDAQ: NVDA) saw selling pressure ahead of its earnings. Investors are keeping a close eye on the stock’s movement.
By midday Monday in New York, the major stock indices barely moved. The S&P 500 and Dow Jones were nearly unchanged, while the small-cap Russell 2000 fell 0.4%. Utility stocks led the day with solid gains, but energy stocks lagged behind.
A major winner of the day was Alphabet (NASDAQ: GOOGL), which surged nearly 5% to hit a record high of $293. The rally came after Warren Buffett’s Berkshire Hathaway revealed a new stake in the company — buying nearly 17.85 million shares worth about $4.93 billion as of the end of September.
On the losing side, Dell Technologies (NYSE: DELL) dropped over 6%. Morgan Stanley cut its price target on Dell from $140 to $110, citing concerns over future performance.
Netflix (NASDAQ: NFLX) completed its 10-for-1 stock split on Monday. The move brought its share price down to around $111, making it more affordable for everyday investors to buy in.
In the commodities market, gold slipped 0.4% to $4,066 per ounce, while silver rose 0.6% to $50.80 per ounce. Oil prices remained steady around $60 a barrel, holding onto Friday’s 2.8% gain.
Cryptocurrencies continued to struggle after a sharp sell-off over the weekend. Bitcoin (CRYPTO: BTC) was trading near $94,000 after briefly falling below $92,950 on Sunday — its lowest level in over six months. It’s now down more than 25% from its peak of $126,296 last month. Ethereum (CRYPTO: ETH) showed a slight rebound, climbing 1.4% to about $3,130.
Here’s a quick look at Monday’s performance in key U.S. indexes and ETFs:
– Vanguard S&P 500 ETF (NYSE: VOO): Flat at $618.15
– SPDR Dow Jones Industrial Average ETF (NYSE: DIA): Down 0.1% to $471.44
– Invesco QQQ Trust (NASDAQ: QQQ): Up 0.2% to $610.75
– iShares Russell 2000 ETF (NYSE: IWM): Down 0.3% to $236.74
– Utilities Select Sector SPDR Fund (NYSE: XLU): Up 1.1%
– Energy Select Sector SPDR Fund (NYSE: XLE): Down 0.6%
Top S&P 500 Gainers on Monday:
– Alphabet Inc. (GOOGL): +4.36%
– Albemarle Corp (ALB): +8.63%
– Centene Corp (CNC): +4.51%
– Tesla Inc (TSLA): +3.72%
– Western Digital Corp (WDC): +3.36%
Biggest Decliners:
– Dell Technologies Inc (DELL): -7.47%
– Hewlett Packard Enterprise Co (HPE): -6.94%
– Coinbase Global Inc (COIN): -5.86%
– Super Micro Computer Inc (SMCI): -4.68%
– Generac Holdings Inc (GNRC): -4.05%
Investors will be watching closely this week for more data and NVIDIA’s earnings, which could set the tone for where the market heads next.