Dow Jones Futures Fall On Microsoft, But AMD Jumps After Nvidia Sell-Off; Fed Pivot Looms
Dow Jones futures fell slightly overnight, while S&P 500 futures and especially Nasdaq futures rose. Microsoft (MSFT) fell on weak Azure cloud-computing growth, but AMD and Nvidia were overnight winners. The Fed meeting decision is on tap Wednesday.
Nvidia rival Advanced Micro Devices (AMD), Arista Networks (ANET), First Solar (FSLR) and Pinterest (PINS) also reported Tuesday night.
The stock market rally diverged Tuesday, heading into huge earnings and the Fed meeting decision. The Dow Jones, small caps and many nontech sectors held up or rose modestly. The S&P 500 undercut key support, while the Nasdaq fell solidly, led by Nvidia (NVDA).