Los Angeles, California – Dow Jones futures, as well as S&P 500 futures and Nasdaq 100 futures, showed an increase before the opening of the stock market on Tuesday. Noteworthy companies in the artificial intelligence sector such as Nvidia and Super Micro Computer experienced declines on Monday, while Meta Platforms saw a significant sell-off.
On Monday, Oracle played a pivotal role in the earnings movement, with its shares surging over 11% in after-hours trading. Additionally, Adobe and Jabil are scheduled to report later in the week.
The release of the Consumer Price Index (CPI) by the U.S. Labor Department is highly anticipated this week. With expectations of a 0.4% rise in the CPI on a monthly basis and a 3.1% increase overall, Wall Street also foresees core prices climbing 0.3% in February with a year-over-year rise of 3.7%. The inflation report is set to be released at 8:30 a.m. ET on Tuesday.
In Monday’s trading session, the Dow Jones Industrial Average edged up by 0.1%, while the S&P 500 registered a slight decrease of 0.1%. The Nasdaq composite, known for its concentration in the tech sector, experienced a 0.4% drop.
Within the Magnificent Seven stocks, Meta Platforms faced the most significant decline, falling by 4.4%. Nvidia also saw a 2% decrease on Monday, following a downward turn on Friday. Furthermore, Super Micro, a major player in AI, tumbled over 5%, closing at approximately 12% below its recent peak.
Apple and Microsoft, two tech giants in the Dow Jones, had mixed performances in the stock market on Monday. While Apple observed a 1.2% increase in its stock, Microsoft saw a 0.4% dip.
Other notable stocks to watch in the current market include Duolingo, Fifth Third Bancorp, Fortinet, and Block along with Dow Jones components Disney, IBM, and Procter & Gamble.
As the week progresses, investors are keeping a close eye on oil prices, Treasury yields, and the ongoing market rally to make informed decisions. Analysts suggest monitoring key support levels and potential breakout opportunities in various sectors for potential investment strategies.
As the market landscape continues to evolve, keeping abreast of changing trends and emerging opportunities is crucial for investors seeking to navigate the unpredictable fluctuations of the stock market.