After the longest government shutdown in US history, which put various economic data reports on hold, markets are also waiting for backlog numbers to flow again – a gauge of the health of the world’s largest economy.
The Dow Jones industrial average fell 0.2 percent to 47,033.52 in early trading, while the S&P 500 index retreated 0.3 percent to 6,711.92.
The tech-heavy Nasdaq Composite Index fell 0.2 percent to 22,847.54.
This week, traders will await minutes from the Federal Reserve’s most recent policy meeting as they assess the likelihood of further interest rate cuts.
In addition to Nvidia, US retailers including Home Depot, Target and Walmart are also set to release their earnings reports, which will be monitored for signs of how consumers are faring from the sting of President Donald Trump’s tariffs.
Government data on how the labor market fared in September is also set for release on Thursday.
“It will be the first glimpse of some macro news” that could provide clues on the Fed’s preferred path for interest rates going forward, said Peter Cardillo of Spartan Capital Securities.
Among the companies, he added that “it all depends on Nvidia, whether it can turn around the bad negative sentiment on the AI sector.”
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