Stock Market Steadies Amid Tech Selloff and Earnings Focus
TL;DR Summary
Stock futures are steady after a four-day decline in the S&P 500, with tech stocks leading losses amid investor caution ahead of Fed Chair Powell’s speech at Jackson Hole. Major tech giants like Amazon, Apple, and Alphabet fell over 1%, while the market awaits key earnings reports and economic data. The Fed's minutes suggest concerns about inflation and labor market conditions, with expectations of potential rate cuts in September.
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- Wall Street steadies after Nvidia, Palantir and other AI stars trim their losses AP News
- AI and tech stocks slide as summer rally peters out CNN
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