Stocks in New York mostly closed lower on Monday, with the technology sector leading the way down. Investor sentiment was particularly weak for the AI-driven chip companies, ahead of Nvidia’s earnings report later in the week.
The Nasdaq Composite index fell 0.5%, while the S&P 500 and Dow Jones Industrial Average also ended the day in negative territory. Nvidia’s upcoming earnings report is closely watched by investors, as the company’s performance could have a significant impact on the tech sector as a whole.
Despite the overall negative trend in the markets, some individual stocks managed to outperform. Tesla, for example, saw a slight gain following news of a new partnership with a Chinese carmaker. On the other hand, Apple and Amazon both closed lower, dragging down the tech-heavy Nasdaq index.
In summary, the New York stock markets closed mostly down on Monday, with the technology sector facing selling pressure. Investors are keeping a close eye on Nvidia’s upcoming earnings report, which could provide further insight into the health of the tech industry. Stay tuned for more updates on market trends and individual stock performances.