Stock Futures Decline Amid Record Dow & S&P 500 Gains
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Market Performance: The Dow Jones closed at record highs on Thursday, and the Nasdaq was close to a new high. Major indexes are poised for gains in August, marking the fourth consecutive month of increases.
Economic Data: Investors are awaiting the release of the July Personal Consumption Expenditures (PCE) report at 8:30 a.m. ET, which is the Fed’s preferred measure of inflation. the Fed has held interest rates steady in 2025, but Jerome Powell recently suggested a rate cut is absolutely possible at the next policy meeting if economic conditions warrant it.
Stock Movements:
Down: Marvell technology (MRVL) -14%, Dell Technologies (DELL) -6%, Nvidia (NVDA) -1%, Alphabet (GOOG) – (the article cuts off before stating the percentage)
Up: Affirm (AFRM) +14%, autodesk (ADSK) +10%
Nvidia’s Earnings: Nvidia’s recent earnings report didn’t meet Wall Street’s expectations, contributing to its stock decline.
