Nasdaq futures rally ahead of big week of earnings, Fed meeting: Live updates - CNBC

What the report says

CNBC reported that U.S. stocks finished mixed Monday as investors looked ahead to a heavy week of megacap technology earnings and a Federal Reserve interest-rate decision. The Dow Jones Industrial Average rose 262.83 points, or 0.51%, to 52,210.08, while the S&P 500 edged up 0.02% to 7,413.18. The Nasdaq Composite slipped 0.18% to 24,932.08.

The session was pressured by weakness in semiconductor shares, even after some chip stocks recovered from their worst levels of the day. The VanEck Semiconductor ETF fell more than 2%, with AMD down 5%, Teradyne off 4% and Micron Technology lower by about 2%. CNBC said the group was affected by investor concern over Chinese competition, including Chinese chipmaker CXMT’s Shanghai listing and a report from The Information that China was developing deep ultraviolet lithography machines. U.S.-listed ASML shares dropped nearly 6% after that report.

Oil prices also retreated sharply after the U.S. and Iran paused attacks, according to CNBC. Brent crude for September delivery fell 8.7% to $88.36 a barrel, while West Texas Intermediate crude settled 7.5% lower at $82.61.

The week’s main tests include quarterly results from Amazon, Apple, Meta Platforms and Microsoft, which could influence views on artificial intelligence spending after Alphabet’s weaker reception last week. CNBC also noted that the Fed is due to announce its latest rate decision Wednesday, with markets broadly expecting a September increase but still pricing some chance of a quarter-point move this week, based on CME FedWatch data.