Traders work on the trading floor of the New York Stock Exchange (NYSE) on June 24, 2024 in New York City, the United States.
Brendan McDermid | Reuters
Stock futures were flat in overnight trading after a selloff in favored technology stocks sent the Nasdaq Composite to its worst day since April.
Futures and Dow Jones Industrial Average Added 15 points. S&P 500 Index and Nasdaq 100 Hovering around the flat line.
In an extension transaction, Solar Edge Technologies Shares fell 13% after announcing plans US$300 million private placement Convertible Notes, Simultaneously Poole Corporation down 8% After adjusting its downward guidance.
During regular meetings, Dow Jones Industrial Average In contrast to Monday’s sell-off, it was up nearly 261 points, or 0.67%. this S&P 500 Index fell 0.31%, while Nasdaq Index The company’s shares fell 1.09%, its worst day since April, as investors retreated from semiconductors.
Nvidia It fell nearly 7% on Monday and was down 4% from last week. Other connected semiconductor and artificial intelligence companies fell, including Supermicro Components down 8.7%. Qualcomm down 5.5%, while Broadcom down nearly 4%. As a result, Information Technology was the worst-performing sector in the composite index, falling 2.1%.
But given the historical pattern, the recent sell-off in the semifinals isn’t alarming. Renaissance Macro Research’s Jeff deGraaf told CNBC’s “Closing Bell” on Monday that summer is typically a difficult time, noting that the third quarter is typically the worst period for the industry.
“The good news is I think Nvidia is still in a long-term upward trend,” he said. “I think these adjustments may prove to be buyable. You just have to temper that sentiment.”
Wall Street is looking ahead to profits fedex and carnival On Tuesday, the season comes to a close. Friday’s release of the personal consumption expenditures price index follows the release of June consumer confidence, Richmond Fed index and house price data.
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