December 26, 2024

Traders work on the trading floor of the New York Stock Exchange (NYSE) on August 30, 2024 in New York City, the United States.

Brendan McDermid | Reuters

U.S. stock futures were little changed late Tuesday after major indexes fell in early September.

Dow Jones Industrial Average Futures Down 5 points, or 0.01%. S&P 500 Index Futures and Nasdaq 100 Futures fell 0.05% and 0.04% respectively.

NVIDIA Shares fell 2% in after-hours trading Bloomberg reports, Citing people familiar with the matter, the U.S. Department of Justice issued a subpoena to the chipmaker. Previously, Nvidia fell more than 9% in regular trading due to a general correction in semiconductor stocks.

Wall Street is having a negative session, with major benchmarks posting their worst day of selling since Aug. 5 as chip brands come under pressure and the latest economic data hints at slowing U.S. economic growth. The Dow Jones Industrial Average fell more than 600 points, or 1.5%, while the S&P 500 fell 2.1%. The Nasdaq fell 3.3%.

Traders are bracing for further volatility in September, which is historically a weak month for stocks, with many investors expecting a correction of 5% or more in the coming weeks. Still, some bullish investors expect any decline in stocks to be a buying opportunity.

“The next eight weeks should be a golden, golden opportunity to rebalance your portfolio, become more diversified and really move market activity in your favor,” said Chris Hyzy, head of investments at Merrill Lynch and Bank of America Private Bank, on Tuesday. CNBC’s “Closing Clock” program said.

Corporate earnings season largely lags behind investors, but retailers report dick’s sporting goods and dollar tree It will be released before the market opens on Wednesday. Hewlett Packard Enterprise Earnings will be released after the market closes.

Traders will also be watching the latest release of the U.S. Trade Deficit, Job Openings and Labor Turnover (JOLTS) survey as well as factory orders data.

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