S&P 500 ends lower as Dell and Nvidia drop
Fri August 29, 2025 4:22 PM
It was a straight shot down triple-digits for tech from the outset that stayed that way all day, the Dow doing a little better reaching a low of a minus 260 by 11 a.m. but then recovering the rest of the day to close just 92 down. It was a third day for losses for Nvidia when, though it did very well, failed to meet the impossible expectations that investors brought to the game. Dell and other AI stocks also fell. As today’s expert noted, “Today is just weakness in the top of the market, in tech. This is not the first time that we’ve had some worries about over-investment in AI.”
PCE also did not come in as hoped for, showing signs now of the tariffs starting to feed into prices. But most economists do not believe that the inflation numbers will stop the Fed from rate cuts and a September cut is still very much expected. The good news is that, for the month, all three indexes rose, the S&P up 1.9%, the Nasdaq 1.6, the Dow 3.2%, the S&P and Dow now in their fourth straight month of gains, the Nasdaq its fifth. Today the judge ruled that Lisa Cook shall remain in her Fed position pending a final ruling on whether her firing was legal. Volume at 14.8 still remains below the average of 16.4 billion, but the gap is closing.
DJ: 45,636.90 +71.67 NAS: 21,705.16
+115.02 S&P: 6,501.86
+20.46 8/28
DJ: 45,544.88 -92.02 NAS: 21,455.55
-249.61 S&P: 6,460.26
-41.60 8/29
No comments:
Post a Comment