Traders
on
the
floor
of
the
NYSE,
May
6,
2022.
Source:
NYSE
Stock
futures
were
little
changed
on
Monday
after
a
bounce
back
in
tech
shares
ahead
of
Nvidia’s
inaugural
artificial
intelligence
conference.
Heading
into
Tuesday,
Nvidia
shares
showed
signs
of
cooling
as
investors
shift
their
focus
to
the
Federal
Reserve’s
two-day
policy
meeting.
Futures
tied
to
the
S&P
500
slipped
0.12%,
while
Dow
Jones
Industrial
Average
futures
slid
8
points,
or
0.02%.
Nasdaq
100
futures
were
0.22%
lower.
The
S&P
500
broke
a
three-session
slump
during
regular
trading.
The
broad
market
index
and
the
Nasdaq
Composite
entered
Monday
riding
two-week
losing
streaks.
AI
leader
Nvidia
pulled
back
roughly
1%
in
extended
trading,
as
investors
evaluate
the
news
from
its
first-ever
GTC
Conference.
Chief
Executive
Jensen
Huang
unveiled
Nvidia’s
latest
AI
chip,
labeled
Blackwell,
which
he
touted
as
a
significantly
more
powerful
successor
to
its
chips
that
power
a
multitude
of
AI
operations.
Tech
stocks
including
Google-parent
Alphabet
and
Apple
also
climbed
on
Monday.
A
Bloomberg
report
that
the
two
firms
were
in
talks
to
integrate
Google’s
Gemini
into
iPhones
helped
stoke
their
rally.
Wall
Street
is
awaiting
guidance
on
the
path
forward
for
monetary
policy
as
the
Federal
Reserve
begins
its
two-day
policy
meeting
on
Tuesday.
A
recent
slate
of
worrying
inflation
reports
has
investors
concerned
that
the
central
bank
could
signal
interest
rates
will
remain
higher
for
longer
than
expected.
However,
fed
funds
futures
currently
forecast
a
99%
likelihood
that
the
Fed
will
leave
benchmark
interest
rates
unchanged
this
week,
according
to
the
CME
FedWatch
Tool.
“The
Fed
is
going
to
be
taking
a
lot
of
the
oxygen
out
of
the
room
this
week
as
they
conclude
their
March
meeting
on
Wednesday
afternoon,”
said
Sam
Millete,
director
of
fixed
income
at
Commonwealth
Financial
Network.
“It’s
going
to
be
a
really
interesting
meeting
because
markets
don’t
expect
any
interest
rate
changes
at
this
meeting,
and
in
fact,
don’t
have
any
changes
priced
into
the
next
meeting
either.”
