US Stocks Decline as Investors Await Fed Minutes and Nvidia Earnings

According to Yahoo News, US equities experienced a drop on Tuesday as investors struggled to maintain the recent market rally. The decline occurred ahead of the release of the Federal Reserve meeting minutes and Nvidia earnings. October's unexpected inflation slowdown had previously boosted indexes, with hopes that the Federal Reserve had concluded tightening interest rates. However, some central bank officials have continued to remind markets that additional rate hikes are still a possibility. Investors are now anticipating the Fed meeting minutes, which will be released at 2 p.m. and are expected to provide a clearer picture of the direction of monetary policy. Currently, markets widely expect rates to remain steady for the remainder of the year. The stock rally was also hindered by weak retail earnings, causing stocks such as home improvement retailer Lowe's and clothing retailer American Eagle to fall at the opening. Investors are also closely monitoring the upcoming Nvidia earnings report, a key component of the "Magnificent 7" tech cohort. The company's share price reached a new all-time high this week, driven by expectations of strong profits and sales. As of Tuesday morning, the S&P 500 was down 0.24%, the Dow Jones Industrial Average was down 0.24% (-83.64 points), and the Nasdaq Composite was down 0.47%.