Stock futures are little changed after tech sell-off drags S&P 500 to worst day since August: Live updates

Stock futures are little changed after tech sell-off drags S&P 500 to worst day since August: Live updates


Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., August 30, 2024. 

Brendan McDermid | Reuters

U.S. stock futures were little changed Tuesday night after the major averages fell to start September.

Dow Jones Industrial Average futures was flat. S&P 500 futures and Nasdaq 100 futures dipped 0.06% and 0.1%, respectively.

Nvidia shares fell 1.5% in extended trading after a Bloomberg report, citing sources familiar, said the U.S. Justice Department sent subpoenas to the chipmaker. The move comes after Nvidia tumbled more than 9% in the regular session amid a broader pullback in semiconductor stocks.

Wall Street is coming off a losing session, with the major benchmarks posting their worst day going back to the Aug. 5th sell-off as chip names came under pressure and the latest economic data implied slowing growth for the U.S. economy. The Dow Jones Industrial Average fell more than 600 points, or 1.5%, while the S&P 500 slid 2.1%. The Nasdaq Composite dropped 3.3%.

Traders are bracing for further volatility in September, historically a weak month for equities, with many investors anticipating a pullback of 5% or more in the coming weeks. Still, some bullish investors expect any decline in stocks could be a buying opportunity.

“The next eight weeks should be a prime, a very prime opportunity, to rebalance your portfolio, get more diversified, and actually let the market activity go in your favor,” Chris Hyzy, investment chief at Merrill and Bank of America Private Bank, said on CNBC’s “Closing Bell” on Tuesday.

Corporate earnings season is largely behind investors, but reports from retailers Dick’s Sporting Goods and Dollar Tree are set to release before the open on Wednesday. Hewlett Packard Enterprise is set to post earnings after the close.

Traders will also look to the latest releases on the U.S. trade deficit, job openings and labor turnover (JOLTS) survey, and factory orders data.



Source

‘Superman,’ ‘F1’ both cross 0 million at the global box office
World

‘Superman,’ ‘F1’ both cross $500 million at the global box office

Rachel Brosnahan and David Corenswet star as Lois Lane and Superman in Warner Bros.’ “Superman.” Warner Bros. Discovery Warner Bros. Discovery had a bountiful weekend at the global box office. The studio had two films cross the $500 million mark worldwide — “Superman” soared to $502 million and Apple’s “F1,” which Warner Bros. distributed, topped […]

Read More
Marvel’s ‘Fantastic Four: First Steps’ opens to 8 million domestically
World

Marvel’s ‘Fantastic Four: First Steps’ opens to $118 million domestically

(L-R): Ebon Moss-Bachrach as Ben Grimm/The Thing, Vanessa Kirby as Sue Storm/Invisible Woman, Pedro Pascal as Reed Richards/Mister Fantastic and Joseph Quinn as Johnny Storm/Human Torch in Marvel’s “The Fantastic Four: First Steps.” Disney What superhero fatigue? Twice in one month, a comic book film has rocketed to the top of the box office, debuting […]

Read More
I’m a travel expert who has visited 70 countries—these 7 phrases make you sound like ‘an obnoxious American’
World

I’m a travel expert who has visited 70 countries—these 7 phrases make you sound like ‘an obnoxious American’

I know what it’s like to have inconsiderate houseguests — the kind where you can’t wait for them to leave. I don’t ever want to be that person when I’m in another country.  I’ve been traveling almost as long as I’ve been alive. I’ve made it to all seven continents, 70 countries, and 47 U.S. […]

Read More