Wall Street Opens Lower Amid Fed Rate Cut Uncertainty, Tech Earnings

Wall Street opened lower on Monday following a strong rally last week sparked by Federal Reserve Chair Jerome Powell's remarks hinting at possible interest rate cuts as soon as September. However, recent economic data has introduced uncertainty about the timing and likelihood of these cuts, causing futures for major indexes like the S&P 500, Dow Jones, and Nasdaq to decline. Investors are also closely watching key economic reports including new home sales, durable goods orders, and inflation data, as well as upcoming earnings from major tech companies like Nvidia, which could influence market direction. Asian markets showed gains despite concerns over tariffs and trade policies, while European stocks traded cautiously. Treasury yields rose and gold prices climbed, reflecting a defensive stance among investors amid mixed signals from the Fed and ongoing geopolitical tensions. The market's trajectory this week will likely depend on economic data releases and corporate earnings results, with traders weighing the potential impact of inflation and labor market conditions on Federal Reserve policy.