Stock Market Today Nasdaq Pulls Back on AI Worries MHM NEWS

MHM NEWS

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00:00NASDAQ pulls back on AI worries. Fed's Lisa Cook has asked for a temporary restraining order

00:11against Trump. U.S. stocks are poised to end August on a downbeat note, with market-favorite

00:17NVIDIA and other AI-linked stocks leading Friday's broad retreat.

00:22Dear viewers, if you like this news, please like it and share your comment.

00:26The NASDAQ composite dropped about 1% after Dell became the latest tech company to post

00:34soft results or guidance for an artificial intelligence-related segment. Dell stock slid

00:39by as much as 10%, while NVIDIA, Broadcom, and Oracle dropped 3% or more.

00:52The latest installment of the Federal Reserve's preferred measure showed the inflation rate

00:58held roughly steady last month. As expected, the personal consumption expenditure's price index

01:04rose 2.6% in the 12 months through July. Investors are watching inflation and other data with a view

01:13to the likelihood of a September interest rate cut. Futures pricing suggests traders see an 89%

01:19chance the Fed lowers rates then. CME group data show up from 63% a month ago.

01:26A hearing Friday on a bid by Federal Reserve Governor Lisa Cook for a temporary restraining order

01:32against President Trump concluded after two hours with no immediate decision.

01:37The S&P 500 is on track to finish August with its fourth state monthly advance. The gains came amid an

01:54eventful few weeks, which included the release of a weaker than expected jobs report and the

02:01implementation of Trump's tariffs on dozens of countries. On Friday, the U.S. ended the de-minimized

02:09rule that for years has allowed package worth $800 or less to enter the quantity tariff free.

02:19The exemption for Chinese goods seized in May. In Friday trading, stocks fell, with the Nasdaq's

02:29leading losses down roughly 1%. Gold was on track for a record close above $3,500, its first in three weeks.

02:38The 10-year yield held around 4.23% on pace to reverse three days of decline.

02:48Brent crude features edged lower on track for monthly declines. Bitcoin fell below $1,900,000 USD.

03:01Dear viewers, if you like this news, please like it and share your comment on the comment box below.

03:07And don't forget to click the bell icon. See you tomorrow. Till then, bye-bye.

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