<\/p>\n
U.S. stocks moved lower as Wall Street opened on a negative footing following last week\u2019s bounce to record highs, with the focus shifting from the Federal Reserve\u2019s Jackson Hole symposium to Nvidia\u2019s earnings coming up this week.<\/p>\n
<\/p>\n
The Dow Jones Industrial Average opened 90 points lower, and the S&P 500 shed 0.2%, as the blue-chip and benchmark indexes retreated from highs seen at the close on Aug. 22. The Nasdaq Composite also dropped and was down 0.3% as bullish investor sentiment around interest rate cuts dissipated to one of caution.<\/p>\n
The downbeat start to the week comes after a week in which Wall Street posted a strong bounce on the back of some unimpressive showings. In particular, stocks posted a robust uptick on Friday as Fed chair Jerome Powell hinted at the potential for the central bank to cut its benchmark rate in September.<\/p>\n
As the Dow Jones Industrial Average rallied more than 800 points to close at a record 45,631, the S&P 500 inched close to its all-time high. The Nasdaq Composite also jumped, while across risk assets, cryptocurrencies mirrored Wall Street\u2019s gains.<\/p>\n
Bitcoin (BTC), which peaked above $124k this month, recovered some of the losses as it jumped to highs of $117k.<\/p>\n
However, with equities in downturn, sell-off pressure has pushed the benchmark digital asset back to lows of $111k.<\/p>\n
<\/p>\n
The corporate market helped buoy stocks in the second quarter as tariffs impacted investor confidence in April and early May. But with traders growing more bullish amid trade deals, a wave of earnings beat provided a perfect bounce platform.<\/p>\n
Nvidia, the chipmaker that often drives sentiment across tech stocks, is reporting this week.<\/p>\n
The company reports on Wednesday after the bell and optimism is high amid expectations of an AI driven uptick.<\/p>\n
As well as Nvidia, other stocks in the earnings spotlight this week are Dell and Marvell Technology, both of which report on Thursday<\/p>\n
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