Labor data, Nvidia, retail earnings
Description
Following in the footsteps of August's tech-led sell-off, equities (^DJI, ^IXIC, ^GSPC) could be in for an even rougher start to September. Shares of chipmaker Nvidia (NVDA) are tumbling lower, erasing nearly $280 billion in market cap and compounded by the subpoena it was served by US Department of Justice (DOJ) officials, according to a Bloomberg report.
Takeaway:
- Wall Street is looking ahead to the economic data due out today, including the latest Job Openings and Labor Turnover Survey (JOLTS) print Wednesday morning and the August jobs results on Friday
- Nvidia (NVDA) has shed $279 billion in market cap as its stock dropped during Tuesday's market turmoil.
Discount retailer Dollar Tree (DLTR) lowered its full-year guidance after missing second quarter earnings estimates, while Dick's Sporting Goods (DKS) raises its guidance on its latest earnings beat.
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