US stocks fall as focus shifts to Nvidia earnings and economic data

Wall Street stocks fell early on Monday as traders braced for major earnings reports from chip titan Nvidia and major US retailers.
After the longest government shutdown in US history, which put several economic data reports on hold, markets are also waiting for backlog data to start flowing again – to gauge the health of the world’s largest economy.

The Dow Jones Industrial Average fell 0.2 percent to 47,033.52 shortly after the start of trading, while the S&P 500 Index fell 0.3 percent to 6,711.92.The tech-heavy Nasdaq Composite Index lost 0.2 percent to 22,847.54.

This week, traders will look to the minutes of the Federal Reserve’s latest policy meeting to assess the likelihood of further rate cuts.

In addition to Nvidia, US retailers including Home Depot, Target and Walmart will also release their earnings reports. These will be monitored for signs of how consumers are faring as President Donald Trump’s tariffs are tightened.

Government data on how the labor market performed in September will also be published on Thursday.

“It will be the first glimpse of some macro news” that could provide hints about the Fed’s preferred path for interest rate developments, said Peter Cardillo of Spartan Capital Securities.

Among companies, he added that “it is all up to Nvidia whether or not it can reverse the souring negative sentiment about the AI ​​sector.”