Markets on Wall Street were quietly mixed early Tuesday following a mixed session a day earlier that saw a third straight decline for red-hot chipmaker Nvidia, according to the Associated Press.
Futures for the Dow Jones Industrial Average inched down 0.1%, while futures for the S&P 500 rose just less than 0.2%.
Nvidia rose 2.2% before the bell, clawing back some of its losses in recent sessions with the frenzy over artificial intelligence appearing to cool. Nvidia’s stock has been receding since it briefly overtook Microsoft as Wall Street’s most valuable last week, and it was down nearly 13% in just three days.
Microsoft shares were essentially flat after the European Union said the software giant violated antitrust rules with “possibly abusive” practices by tying its Teams messaging and videoconferencing app to its widely used business software, the bloc said.
Solar panel manufacturer SolarEdge tumbled more than 17% before the bell after it announced that customer PM&M Electric — which owes Solaredge more than $11 million — was filing for bankruptcy. SolarEdge also announced Monday that it planned to raise $300 million from the sale of convertible senior notes.
Toolmaker Epac slid more than 9% after it missed third-quarter sales targets and issued fourth-quarter revenue guidance that came in below analyst expectations.
Coming later Tuesday is the latest consumer confidence report from the Conference Board. In May, U.S. consumers showed an uptick in confidence after three straight months of declines amid still-elevated inflation and high interest rates.
In the bond market, Treasury yields mostly held steady. The yield on the 10-year Treasury was unchanged from late Monday at 4.23%, while the yield on the 2-year note ticked up to 4.73% from 4.72%.
