Powell at Jackson Hole, Fed Minutes, Walmart Earnings
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Wall Street, Palantir Technologies
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Dow futures slipped slightly on Wednesday as investors adopted a cautious stance ahead of Federal Reserve Chair Jerome Powell’s upcoming remarks at the Jackson Hole Symposium.
Nvidia, whose chips are powering much of the world's move into AI, dropped 1.3% and was on track to be the heaviest weight on Wall Street for a second straight day following its 3.5% fall on Tuesday. Palantir Technologies, another AI darling, sank 2.3% to add to its 9.4% loss from the day before.
The heaviest weight on the market was Nvidia, whose chips are powering much of the move into AI. It sank 3.5%.
The S&P 500 slipped 0.4% and is on track for a third straight modest loss after setting its all-time high last week. The Dow Jones Industrial Average was up 8 points, or less than 0.1%, as of 11:50 a.m. Eastern time, and the Nasdaq composite was down 1%.
Wall Street continues to drift Wednesday while news of a leadership change at Target took some of the spotlight away from the latest batch of corporate earnings reports.