Stocks traded mixed Monday as investors weighed new U.S. sanctions against Iran, failed U.S.-Canada trade talks and reciprocal tariff threats. Nvidia's upcoming earnings and the Federal Reserve's Jackson Hole symposium added to the uncertainty, with Nvidia shares already down 2.35%.
The Nasdaq slid Monday as investors weighed new U.S. sanctions against Iran, failed U.S.-Canada trade talks and reciprocal tariff threats, alongside earnings from chipmaking giant Nvidia and the Federal Reserve's annual symposium in Jackson Hole, Wyoming.
Treasury Secretary Scott Bessent is expected to reveal details of the administration's sanctions plans against Iran later Monday, after President Donald Trump threatened the country with "economic D-Day."
The Fed will hold its annual symposium beginning Thursday, with Chairman Kevin Warsh expected to deliver a speech on Friday. Markets will look for greater clarity on his read of inflation and the broader policy shift he has advocated at the Fed, said Daniela Hathorn, senior market analyst at Capital.com. However, Warsh has been reluctant to give conventional forward guidance, so the speech may focus more on the Fed's reaction function and longer-term philosophy than on explicit signals about September policy, she said.
Intuit, Salesforce and Marvell Technology are also slated to report earnings this week alongside Nvidia, whose shares were down 2.35%.
Stocks closed higher Friday, rebounding from earlier losses, but the major indexes still finished last week lower amid volatile Treasury yields and heightened Middle East tensions.
Source: TheStreet
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