US stock markets closed with a mixed performance on Monday, August 26th, as investors grappled with the impending earnings report from tech giant Nvidia. While the Dow Jones Industrial Average edged up by 0.16%, closing at 41,240.52, the S&P 500 and Nasdaq Composite experienced declines. The S&P 500 dipped 0.32% to finish at 5,616.84, while the Nasdaq Composite fell 0.85%, ending the session at 17,725.77.
Nvidia’s stock price took a hit, falling 2.25%, likely due to anticipation surrounding the company’s earnings report, which is expected to shed light on the future of the chipmaker and its performance in the AI boom.
Despite the tech sector’s weakness, the Dow managed to climb higher, driven by gains in companies like Caterpillar and American Express.
Adding a layer of optimism to the day’s market movements, economic data revealed that new orders for manufactured durable goods in the US rose by 9.9% in July. This positive figure represented a recovery from the revised 6.9% decline observed in the previous month.
Looking beyond US borders, Asian markets displayed a mixed performance on Tuesday. Japan’s Nikkei 225 index closed higher by 0.72% at 38,332.00, led by gains in the Shipbuilding, Financial Services, and Paper & Pulp sectors. However, Australia’s S&P/ASX 200 declined 0.16%, ending the day at 8,071.20, with IT, Financials, and Industrials sectors experiencing losses. India’s Nifty 50 gained a slight 0.03%, closing at 25,017.75, while the Nifty 500 closed higher by 0.18% at 23,604.85. China’s Shanghai Composite was down 0.24%, ending the session at 2,848.73, and the Shenzhen CSI declined 0.57%, closing at 3,305.33. Hong Kong’s Hang Seng ended the session higher by 0.43% at 17,874.67.
In Europe, at 06:00 AM ET, the European STOXX 50 index gained 0.09%. Germany’s DAX rose 0.16%, France’s CAC was up 0.09%, and the U.K.’s FTSE 100 traded higher by 0.11%.
Commodity markets saw mixed results. Crude Oil WTI traded lower by 0.75% at $76.84/bbl, and Brent was down 0.62% at $79.86 bbl. Natural Gas fell 1.36% to $2.101. Gold traded lower by 0.45% at $2,543.60, Silver declined 0.38% to $30.337, and Copper rose 0.08% to $4.2835.
US futures at 06:00 AM ET showed a slight positive trend. Dow futures were down 0.01%, S&P 500 futures gained 0.07%, and Nasdaq 100 Futures rose 0.20%.
The U.S. Dollar Index fell 0.04% to 100.82, USD/JPY was up 0.18% at 144.78, and USD/AUD declined 0.16% to 1.4743.
This information reflects the market movements as of August 26th and is subject to change. The performance of individual stocks and indices can be influenced by a multitude of factors, and this report should not be considered investment advice.
