Tuesday, 9 August 2022

S&P, Nasdaq fall on more chip weakness, Chevron aids Dow

  • S&P, Nasdaq fall on more chip weakness, Chevron aids Dow

    The Nasdaq Composite and S&P 500 drifted lower as investors await fresh data on consumer inflation due Wednesday and producer inflation out Thursday. The Dow Jones Industrial Average was little changed as Chevron notched gains. Technology in focus again as the chip sector sees more weakness on the heels of Nvidia lowering its revenue goals. Separately, President Biden will sign the CHIPS Act later today in an attempt to bolster U.S. manufacturing of the key components.

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