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Stocks drift as markets await Fed's interest rate clues. CVS Health and tech giants disappoint, but Amazon and DuPont shine in latest earnings. Fed Chair Powell's press conference looms, impacting investor sentiment. Stay tuned for key market moves.
Shares of leading designer of graphics chips Nvidia (NASDAQ:NVDA) fell 5.9% in the afternoon session after peer, AMD, reported reported first quarter results which highlighted a material increase in its inventory levels. In addition, AMD's guidance for the next quarter was underwhelming as revenue projection was mostly in line with Wall Street's projections.
U.S. stocks are holding relatively steady after the Federal Reserve said it would keep its main interest rate at the highest level since 2001, just as markets expected. The S&P
Results by one of the standard-bearers for the AI movement set the stage for a broader pullback in the space.