US stocks fell on Monday, July 31 (no date is provided in the original text), as investors await Nvidia’s second-quarter earnings report. The Dow Jones Industrial Average dropped 349 points to close at 45,282.47, while the S&P 500 index fell 0.43% to reach 6,439.32.
Nvidia, the world’s largest publicly traded company with a market capitalization of $4.39 trillion, is expected to release its Q2 financial results after markets close on August 27. Any disappointing earnings report could send the stock market lower.
Other market news includes a 10% stake in Intel taken by the US government and President Donald Trump’s threat to impose 200% tariffs on China if it doesn’t deliver rare earth magnets to America. Additionally, Keurig Dr Pepper has agreed to buy Dutch coffee company JDE Peets for $18 billion.
Analysts predict that the SPDR S&P 500 ETF Trust (SPY) will see a moderate buy rating, with an average price target of $716.75 implying 11.25% upside from current levels.
Source: https://www.tipranks.com/news/market-wrap-u-s-equities-slump-to-start-the-week-with-the-dow-shedding-349-points