• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

US stock futures steady after rate jitters, Nvidia losses batter Wall Street

by January 8, 2025
written by January 8, 2025

Investing.com– U.S. stock index futures moved little on Tuesday evening, steadying after growing uncertainty over slower interest rate cuts and steep losses in Nvidia weighed heavily on Wall Street. 

Losses in NVIDIA Corporation (NASDAQ:NVDA) pressured the broader technology sector, as did a spike in Treasury yields after economic data pointed to sustained inflationary pressures, furthering the case for a slower pace of monetary easing by the Federal Reserve.

S&P 500 Futures fell 0.1% to 5,950.75 points, while Nasdaq 100 Futures steadied at 21,358.50 points by 18:16 ET (23:1 GMT). Dow Jones Futures fell slightly to 42,778.0 points. 

Nvidia slides after Huang speaks at CES 2025 

Nvidia was by far the worst performing major technology stock on Tuesday, sliding 6.2% from record highs. The stock rose marginally in aftermarket trade. 

CEO Jensen Huang unveiled a flurry of new products at the Consumer Electronics Show in Las Vegas on Monday, including a new range of graphics chips, in-house artificial intelligence models, more tie-ups with automakers on self-driving, and even a desktop supercomputer. Huang also said the firm’s next generation of Blackwell AI chips were now in full production.

But while the update does bode well for Nvidia’s long-term prospects, some analysts noted that it did little to spur the company’s near-term outlook. 

A bulk of the announcement also appeared to be priced into the stock, given that it hit a series of record highs in the run-up to Huang’s address. 

The stock was walloped by a heavy dose of profit-taking, after Nvidia tripled in market value through 2024. 

Other major technology stocks also retreated, with Apple Inc (NASDAQ:AAPL) losing over 1% after the stock was slapped with its second sell rating in three months. Tesla Inc (NASDAQ:TSLA) slid 4.1% after BofA downgraded the stock on concerns over stretched valuations and potential difficulties in meeting its lofty AI ambitions. 

Wall St spooked by inflation, rate jitters 

Wall Street indexes slid on Tuesday, pressured by a spike in Treasury yields as stronger-than-expected job openings data pointed to persistent strength in the labor market.

Stronger-than-expected purchasing managers index data also pushed up concerns over sticky inflation.

Sticky inflation and strength in the labor market are expected to give the Fed less impetus to cut interest rates sharply in 2025, with the bank having warned as much during its December meeting. 

Fed officials reiterated this stance over the weekend, further rattling investor sentiment.

Focus this week is squarely on nonfarm payrolls data for December, due on Friday, for more cues on interest rates.

The S&P 500 fell 1.1% to 5,909.50 points, while the NASDAQ Composite slid 1.9% to 19,491.65 points on Tuesday. The Dow Jones Industrial Average fell 0.4% to 42,529.28 points. 

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Australia’s core inflation slows, keeping door open to Feb rate cut
next post
Microsoft planning companywide job cuts, Business Insider reports

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • HSBC and BTIG cut American Express rating on valuation, slowing fundamentals
    • US disburses $3.4 billion in budget aid for Ukraine, Yellen says

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy