Dow Jones Today: Stock Futures Slip After Two Days of Gains as Investors Await Nvidia AI Event, Fed Meeting – Investopedia

Stocks moved lower in early trading Tuesday as the U.S. equities market hit the pause button on a nascent recovery from a month-long selloff.

The Dow Jones Industrial Average and S&P 500 were down 0.4% and 0.6%, respectively, about ten minutes after the opening bell, while those linked to the Nasdaq Composite slid 1.2%. The major indexes gained ground Monday for the second consecutive session, rebounding from a rout that sent the S&P 500 into correction last week for the first time since 2023.

Coming into this week, the S&P 500 and Nasdaq Composite had lost ground for four consecutive weeks, as investor sentiment has been bruised by uncertainty surrounding the potential impact of tariffs and concerns that the U.S. economy could be headed toward a recession.

The big event on the economic front this week is the two-day meeting of the Federal Reserve’s policy-setting committee, which is scheduled to start today. While no change in interest rates is expected, market participants will closely scrutinize Fed Chair Jerome Powell’s post-meeting remarks on Wednesday as well as the quarterly economic projections from committee members that are set to be released.

On the corporate front, chipmaker Nvidia (NVDA) is hosting its GTC Conference this week, considered to be the marquee AI event of the year. Nvidia CEO Jensen Huang is slated to deliver the keynote address at the event today, a presentation that investors will serve as a catalyst for the stock. Nvidia shares were down about 3% in early trading after falling nearly 2% yesterday.  

Other mage-cap technology stocks were also under pressure this morning. Shares of Tesla (TSLA) fell 6%, extending a slump that has erased more than half of the EV maker’s market value over the past three months. Apple (AAPL), Microsoft (MSFT), Alphabet (GOOG), Amazon (AMZN), Meta Platforms (META) and Broadcom (AVGO) also lost ground.

Shares of Intel (INTC) were down 0.5% as the embattled chipmaker’s newly appointed CEO Lip-Bu Tan was set to start in the role today. Through Monday’s close, the stock had gained about 25% since news of Tan’s appointment was released last Wednesday.

Strategy (MSTR), formerly known as MicroStrategy and the world’s largest corporate holder of bitcoin, was down 6% as the price of the digital currency fell. Shares of crypto exchange Coinbase Global (COIN) and bitcoin miner MARA Holdings (MARA) fell 3% and 4%, respectively. Bitcoin was trading at $81,700, down from an overnight high of $84,500.

Gold futures were up 1.3% at $3,045 an ounce this morning, trading at a new record high, while West Texas Intermediate futures, the U.S. crude oil benchmark, rose 0.8% to $68.15 per barrel.

The yield on the 10-year Treasury note, which has fallen in recent weeks as investor concerns about the economy have grown, was at 4.31%, unchanged from Monday’s close.