NEW YORK — Wall Street is drifting Tuesday and may be heading toward its first back-to-back gain in what’s been a miserable August.
Nvidia, one of Wall Street's most influential stocks, swung from an early gain to a loss of 1.1% ahead of its earnings report on Wednesday, one that could be pivotal for the stock market. Another Big Tech stock, Microsoft, was the strongest single force pushing the S&P 500 higher. It rose 0.7% as U.K. regulators consider a revamped bid by the company to buy video game maker Activision Blizzard, which would be one of the biggest deals in tech history.
Macy’s fell 6.7% despite reporting stronger results for the latest quarter than Wall Street expected. It also stood by its financial forecasts for the full year, though it said economic conditions look uncertain. More fireworks could come later this week, when Fed Chair Jerome Powell is scheduled to give a highly anticipated speech. He’ll be speaking Friday at a Fed event in Jackson Hole, Wyoming, the site of several major policy announcements by the Fed in the past.
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