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U.S. Stocks Fluctuate Amid Tech Dip Ahead of Inflation Data

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U.S. Stocks,Tech Dip,Inflation Data

U.S. stocks experienced swings between losses and gains as tech stocks, led by Nvidia, dipped just a day before key inflation data. Nvidia's stock fell 2% below a key technical level, attracting more selling pressure. However, Intel's stock rose over 7% after Needham initiated coverage with a buy rating and $40 price target. Alphabet's stock rose over 1% as the company announced new custom Arm-chips and partnerships for its cloud business.

Investing.com-- U.S. stocks eked out a gain Tuesday, but investors had to contend with swings between in losses and gains amid pressure from an Nvidia-led dip in tech just a day ahead of key inflation data.

The minutes of the Fed's March meeting also due on Wednesday will likely provide further clues on the rate path ahead after the central bank guided for 75 basis points of rate cuts this year at this meeting. Traders, however, have been cutting expectations that the Fed will reduce interest rates by as soon as June. The CME Fedwatch tool shows a 54% chance for a 25 basis point cut in June.

 

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