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S&P 500 slips as AI chip names fall ahead of Nvidia earnings
Deutsche Bank noted Nvidia shares dropped 2.9% ahead of its earnings release, part of a seven-session losing streak.
Deutsche Bank strategists described a cautious US equity session, with the S&P 500 slipping as investors sold off AI-chip related stocks ahead of Nvidia’s earnings.
The equal weighted S&P 500 neared record highs, but headline indices were held back by semiconductor weakness, with Nvidia down 2.9% ahead of its results and on track for a seventh consecutive decline.
The note also said US equity futures turned slightly higher in Asian trading after the prior day’s declines.
Outside the US, regional moves were mixed, with China and Hong Kong indexes trading lower while Japan and Australia were higher.
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