Nasdaq slips from record high on Fed policy caution, Nvidia results watch
By Ankika Biswas and Lisa Pauline Mattackal)'s earnings this week and Federal Reserve officials emphasized the central bank is in no hurry to ease interest rates.
"Because Monday was strong for Nasdaq, I'd respectfully say today's a mean reversion day," said Louis Navellier, chief investment officer at Navellier and Associates. Navellier said Nvidia shares were"priced for perfection", but noted the volume of options trading on the stock meant"it's going to be very interesting to see the aftermath".Atlanta Fed Chair Raphael Bostic said the central bank needs to be cautious before starting to ease monetary policy, while fellow rate-setter Christopher Waller emphasized the need for more inflation data before cutting rates.
"We continue to expect the Fed to deliver the first cut in December... An earlier cut is possible, but it likely requires a string of more favorable inflation prints and some softening in labor market data," Deutsche Bank Research analysts said in a note.was up 28.67 points, or 0.07%, at 39,835.44, the S&P 500 was down 3.95 points, or 0.07%, at 5,304.18, and the) gained 2.
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