U.S. equities extended their losing streak for a second straight day as investor concerns over stretched AI valuations and mixed corporate news weighed on sentiment. The Dow and S&P 500 logged a fourth consecutive daily decline, with the Dow falling over 500 points. Tech weakness, particularly in AI-leaders Nvidia and Microsoft, led markets lower, while retail disappointments and cautious outlooks added to the negative tone. Bond yields were steady, while oil and gold saw modest gains.
Looking Ahead
Markets will be closely watching Nvidia’s earnings for signs of sustainable growth amid high AI expectations. Retail results from Lowe’s, Target, and TJX on Wednesday, followed by Walmart on Thursday, could provide further clarity on the health of the U.S. consumer. With macro data light, corporate earnings and sector-specific developments are likely to drive near-term sentiment.
Investment Management Group (IMG)
The Investment Management Group at Duncan Williams Asset Management is led by a team with extensive experience in investment management, financial planning, and client service. President David Scully, CFA®, CFP®, has more than 20 years of experience and is active in Memphis civic organizations. Chief Investment Officer Kyle Gowen, CFA®, CFP®, oversees investment strategy and is engaged with the local community. Investment Analyst Jack Eason, CFA®, provides research and supports charitable initiatives. The IMG team is committed to professional standards, client service, and community involvement. No statement is intended as an offer of investment advice or a guarantee of future results.
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