Futures lower, JOLTS ahead, Nvidia gets subpoena - what's moving markets
Investing.com -- US futures dip following a downbeat day to kick off September for Wall Street. Technology names, in particular artificial intelligence focal point Nvidia , saw their share prices slump sharply. Nvidia's stock price further dropped in premarket trading following a report that US regulators had issued a subpoena to the company as part of a deepening investigation into possible antitrust practices.
According to the CME's closely-monitored FedWatch Tool, analysts are all but convinced the Fed will roll out a 25-basis point reduction in borrowing costs at the central bank's upcoming two-day gathering from Sept. 17-18. Interest rates currently stand at a 23-year high of 5.25% to 5.5%.The U.S. Department of Justice has reportedly sent a subpoena to Nvidia as part of a deepening probe into possible antitrust practices at the AI titan, according to Bloomberg News.
Japan's Nippon Steel has said the core senior management and the majority of board members at US Steel would be Americans if its planned $14.9 billion purchase of the US firm goes ahead.
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