US stocks have closed lower, with the Dow Jones Industrial Average down for the fourth consecutive session. The Dow shed 154.10 points, or 0.35%, to close at 44,247.83. The S&P 500 dropped 0.3% to 6,034.91, while the Nasdaq Composite slipped 0.25% to 19,687.24.
Tech stocks were in focus, with Oracle tumbling 6.7% after its quarterly results fell short of Wall Street’s forecasts. Nvidia extended losses, falling 2.7% following news of an antitrust investigation in China. However, Alphabet surged 5.3% after unveiling a new quantum computing chip, bringing its year-to-date gain to over 33%.
Traders are now eyeing US inflation data, set for release on Wednesday, which could impact the Federal Reserve’s interest rate decision at next week’s policy meeting.
Looking at currencies, one Australian dollar at 8:30am was buying 63.8 US cents, 60.6 euro cents, 96.93 Japanese Yen.
Turning to Australia, shares are poised to open lower, with ASX futures pointing to a fall of 27 points or 0.32%. The Australian dollar fell nearly 1% overnight amid renewed bets on a rate cut from the Reserve Bank.
Sources: Bloomberg, FactSet, IRESS, TradingView, UBS, Bourse Data, Trading Economics, CoinMarketCap, Marketech.
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