S&P 500 falls as consumer confidence drops; Nvidia earnings in focus
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Market Overview
S&P 500 (SPX) fell 0.5% on Tuesday, pressured by weaker-than-expected consumer confidence data and renewed trade tensions.
Nasdaq Composite (NDX) declined 1.4%, while the Dow Jones Industrial Average (DJI) edged 0.4% higher.
Key Market Drivers
Consumer Confidence Plummets
Conference Board Consumer Confidence Index for February dropped to 98.3, well below expectations of 102.7 and January’s 105.3 reading.
Declining consumer sentiment signals potential weakness in spending and slowing economic momentum.
Tech Sector Under Pressure
AI and semiconductor stocks led the decline, with Nvidia (NVDA) down 2.8%, ahead of its highly anticipated earnings report Concerns over US tariffs and escalating trade tensions weighed heavily on risk-sensitive sectors.
Risk-Off Sentiment Drives Rotation
US 10-year Treasury yield declined below 4.3%, reflecting increased demand for safe-haven assets.
US dollar (DXY) strengthened, while Bitcoin (BTCUSD) fell below $86,000, signaling broader market caution.
Technical Analysis
S&P 500 Key Levels
Immediate support sits at 5,000, with further downside risk toward 4,950 if selling pressure intensifies.
Break below 4,950 could expose the index to the 4,900 psychological level, increasing bearish momentum.
Resistance remains near 5,050-5,100, with a potential recovery depending on Nvidia’s earnings guidance.
Nvidia Earnings as a Market Catalyst
NVDA’s Q4 earnings report will be closely monitored as a key gauge of AI-related demand and semiconductor industry momentum Stronger-than-expected results could support a relief rally, while any disappointment could amplify downside risks across equity markets.
Market sentiment remains highly reactive to macro developments, inflation concerns, Federal Reserve policy, and trade risks, shaping near-term price action.
S&P 500 (SPX) fell 0.5% on Tuesday, pressured by weaker-than-expected consumer confidence data and renewed trade tensions.
Nasdaq Composite (NDX) declined 1.4%, while the Dow Jones Industrial Average (DJI) edged 0.4% higher.
Key Market Drivers
Consumer Confidence Plummets
Conference Board Consumer Confidence Index for February dropped to 98.3, well below expectations of 102.7 and January’s 105.3 reading.
Declining consumer sentiment signals potential weakness in spending and slowing economic momentum.
Tech Sector Under Pressure
AI and semiconductor stocks led the decline, with Nvidia (NVDA) down 2.8%, ahead of its highly anticipated earnings report Concerns over US tariffs and escalating trade tensions weighed heavily on risk-sensitive sectors.
Risk-Off Sentiment Drives Rotation
US 10-year Treasury yield declined below 4.3%, reflecting increased demand for safe-haven assets.
US dollar (DXY) strengthened, while Bitcoin (BTCUSD) fell below $86,000, signaling broader market caution.
Technical Analysis
S&P 500 Key Levels
Immediate support sits at 5,000, with further downside risk toward 4,950 if selling pressure intensifies.
Break below 4,950 could expose the index to the 4,900 psychological level, increasing bearish momentum.
Resistance remains near 5,050-5,100, with a potential recovery depending on Nvidia’s earnings guidance.
Nvidia Earnings as a Market Catalyst
NVDA’s Q4 earnings report will be closely monitored as a key gauge of AI-related demand and semiconductor industry momentum Stronger-than-expected results could support a relief rally, while any disappointment could amplify downside risks across equity markets.
Market sentiment remains highly reactive to macro developments, inflation concerns, Federal Reserve policy, and trade risks, shaping near-term price action.