US stock futures pulled back on Tuesday as investors awaited the start of a crucial Federal Reserve policy meeting. S&P 500 futures dropped 0.4%, Dow Jones futures fell 0.2%, and Nasdaq 100 futures declined 0.6% as Nvidia shares retreated following AI updates at its developer conference.
The focus is on the Fed’s two-day meeting, with attention on the “dot plot” for clues on potential interest rate cuts. The Bank of Japan made waves with its first rate hike in 17 years, adding to a busy week for central bank decisions.
In the cryptocurrency market, bitcoin fell over 7% from its record high, dragging down shares of Coinbase and Marathon Digital. Unilever’s announcement of job cuts and spinning off its ice cream unit boosted its stock.
At Nvidia’s GTC conference, new product introductions impressed analysts, with JPMorgan highlighting the company’s leading position in AI, high-performance computing, gaming, and autonomous vehicles. The AI stock bubble debate continues as institutional investors remain uncertain.
Overall, the market is poised for volatility as investors await the Fed’s decision and digest the latest developments in technology and corporate news. Stay tuned for updates as the day unfolds.
