The stock market rally attempt took a hit on Thursday as major indexes reversed lower after hitting resistance near the 50-day line. Nvidia, along with other AI stocks such as MRVL, AVGO, ADBE, PLTR, AI, and SMCI, all saw reversals after initial gains. Earnings reports from Marvell Technology, Workday, and Intuit were released after the close, with MRVL beating expectations slightly and seeing a downside reversal in Thursday’s session. Fed Chief Jerome Powell’s much-anticipated speech at the annual Jackson Hole symposium on Friday is expected to provide insights into the future direction of interest rates.
Market Reversal Boosts Stakes for Fed Chief Powell Speech in Dow Jones Futures
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