US Stock Market Today: S&P 500 Dips 0.17% & NASDAQ Drops 0.04% Amid Anticipation of NVIDIA Results and Jobs Report

US stocks moved in a narrow band on Monday as traders waited for chipmaker NVIDIA’s earnings and the long‑delayed September jobs report. Midway through the session, the S&P 500 hovered near 6,725 points, down about 0.12% from Friday, while the Dow Jones Industrial Average eased roughly 0.19% to 47,057. 

The tech‑heavy NASDAQ Composite dipped a modest 0.04%. Europe’s Stoxx 600 index fell 0.49%, and a global gauge of stocks slipped 0.24%, indicating caution ahead of key U.S. data. Futures for US equities suggested a tentative rise, with NASDAQ futures up about 0.6% earlier in the day.

The government shutdown delayed the release of official US statistics; Thursday’s payroll report will finally provide clues on the labor market. Traders also monitored remarks from Federal Reserve officials. Fed policy makers continued to push back against expectations for near‑term rate cuts, and markets now only fully price the next rate reduction for March. 

The yield on the US 10‑year Treasury note eased to 4.135%, while the two‑year yield edged higher to 3.619%. The dollar index firmed 0.14%, sending the euro lower to $1.1597 and the yen to about ¥155.19.

Oil prices were subdued, with West Texas Intermediate near $59.91 a barrel and Brent at $64.22. Gold retreated to roughly $4,064 an ounce. Bitcoin remained volatile, trading around $93,000 after slipping to its lowest level since April as investors rotated out of speculative assets. Fed officials emphasised caution, noting that economic risks appear skewed to the downside even though interest rates are nearing neutral.

Corporate Developments and Deals

NVIDIA’s results will dominate corporate news this week. Options traders expect a swing of about 6.5% in either direction for the stock, reflecting its outsized role in the rally of artificial‑intelligence shares. 

Market jitters over lofty valuations have faded slightly since last week’s sell‑off, but investors remain sensitive to any sign that AI spending is moderating. Alphabet shares climbed more than 4% after a regulatory filing revealed that Berkshire Hathaway built a $4.9 billion stake, while NVIDIA slipped as Peter Thiel’s hedge fund sold its entire holding. 

Ford Motor and Amazon announced that US shoppers will soon be able to buy certified pre‑owned Ford vehicles directly through Amazon’s website in selected cities, a move aimed at offering customers a digital alternative to dealership visits. About 160–180 dealers have expressed interest, and around 20 are launching the programme initially.

Big technology companies are increasingly tapping the bond market to finance AI expansion. Amazon filed for a $12 billion six‑part US dollar bond offering, its first since 2022, with proceeds earmarked for acquisitions, capital spending, and share repurchases. 

KKR agreed to buy up to €65 billion of PayPal’s European ‘buy‑now, pay‑later’ loans, renewing a partnership that includes a revolving loan commitment of €6 billion. 

Johnson & Johnson continued its push into oncology by agreeing to acquire Halda Therapeutics for $3.05 billion in cash; Halda’s technology is designed to kill cancer cells while sparing healthy ones.

TotalEnergies expanded its electricity footprint by purchasing half of Czech company EPH’s flexible power generation platform for €5.1 billion, more than doubling its net gas‑fired capacity to over 14 GW. The joint venture aims to integrate renewables and gas to meet growing demand from data centres and other energy‑intensive sectors. 

Meanwhile, Euronext lowered the acceptance threshold for its planned purchase of Hellenic Exchanges to 50% plus one share after failing to reach the original 66% target, signalling determination to secure the deal.

Outlook and Upcoming Data

With corporate earnings and macro data back in focus, market participants are bracing for volatility. The jobs report, New York Fed manufacturing survey, and speeches from several Fed officials will offer clues about the economy’s trajectory. 

Investors hope NVIDIA’s results will counteract rising scepticism over whether AI‑driven capital spending can continue to justify stretched valuations. Some analysts regard the recent pullback as a healthy reset following a six‑month rally, though concerns persist about market breadth and heavy concentration in megacap technology stocks.

Overall, markets remain sensitive to earnings surprises and policy signals. Traders will watch whether the S&P 500 can defend its 50‑day moving average as volatility picks up around key announcements. For now, investors appear to be treading water, balancing enthusiasm for AI opportunities against caution over economic headwinds.

Also Read: US Stock Market Today: S&P 500 Drops 0.1% & NASDAQ Rises 0.2% as Tech Shares Lead a Broad Market Selloff