Markets on Wall Street were largely unchanged in light trading early today as investors eagerly anticipated an earnings report from chipmaker Nvidia later in the day, the Associated Press reports. Big tech companies like Nvidia — with its total market value topping $3 trillion — have become extremely influential lately, if not overblown.
Futures for the S&P 500 and Dow Jones Industrial Average were each down less than 0.1% before the bell, one day after the Dow hit another record high.
Investors are also looking ahead to Friday, when the U.S. government releases its latest data on inflation with the PCE, or personal consumption and expenditures report, for July.
Nordstrom rose 1.7% in overnight trading after the department store chain easily surpassed Wall Street’s profit expectations on better-than-expected sales. It also raised its per-share profit guidance and said it planned to open another 21 stores by fall of 2025, on top of the 11 it has opened so far this year.
There was less investor enthusiasm for Bath & Body Works, which dipped 2.7% in premarket after the soap and fragrance retailer came up short on analysts’ revenue targets and gave a tepid full-year sales forecast.
In energy trading, benchmark U.S. crude lost $1.36 to $74.17 per barrel. Brent crude, the international standard, fell $1.23 to $77.43 per barrel.
In currency trading, the U.S. dollar rose to 144.32 Japanese yen from 143.91 yen.
