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Stock market today: Live updates
Albany

Stock market today: Live updates

Traders work on the trading floor of the New York Stock Exchange (NYSE) in New York City, USA, August 30, 2024.

Brendan McDermid | Reuters

U.S. stock futures were little changed on Tuesday evening after major averages fell at the start of September.

Dow Jones Industrial Average futures fell by 5 points or 0.01%. S&P 500 futures And Nasdaq 100 futures fell by 0.05% and 0.04% respectively.

NVIDIA Shares fell 2% in extended trading after a Bloomberg report, citing sources familiar with the matter, said the U.S. Justice Department had sent subpoenas to the chipmaker. The move came after Nvidia slumped more than 9% in regular trading amid a broader decline in semiconductor stocks.

Wall Street is coming off a losing day. Major benchmarks posted their worst day since the Aug. 5 sell-off, when chip names came under pressure and recent economic data suggested slowing growth in the U.S. economy. The Dow Jones Industrial Average fell more than 600 points, or 1.5%, while the S&P 500 fell 2.1%. The Nasdaq Composite lost 3.3%.

Traders are bracing for more volatility in September, a historically weak month for stocks. Many investors are expecting a 5% or more drop in the coming weeks. However, some bullish investors expect that any dip in stock prices could be a buying opportunity.

“The next eight weeks should be a prime opportunity to rebalance your portfolio, become more diversified and really use market activity to your advantage,” Chris Hyzy, chief investment officer at Merrill and Bank of America Private Bank, said Tuesday on CNBC’s “Closing Bell.”

The corporate reporting season is largely behind investors, but the retailer reports Dick’s Sporting Goods And Dollar Tree are to be published before the opening on Wednesday. Hewlett-Packard Enterprise is expected to announce its results after the market closes.

Traders will also be paying attention to the latest releases on the U.S. trade deficit, the JOLTS (job openings and labor turnover) survey, and factory orders data.

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