The US stock market opened lower on Thursday as investors showed caution ahead of the Federal Reserve's three-day Jackson Hole conference, with the tech sector continuing to face pressure.

Market Performance

At the opening bell:

Factors Influencing the Market

Federal Reserve's Jackson Hole Conference

Investors are exercising caution as they await potential insights from the upcoming three-day event.

Walmart's Quarterly Results

The retail giant's earnings report failed to boost market sentiment, contributing to the overall cautious mood.

Tech Sector Pressure

The technology sector continues to face challenges, with several major tech stocks experiencing downward pressure:

• Apple: Down 2.00%
• Alphabet: Down 1.10%
• Nvidia: Down 0.10%
• AMD: Down 0.80%
• Intel: Down 4.00% to 7.00%
• Micron: Down 4.00% to 7.00%

Market Dynamics

Sector Rotation

Investors have been shifting focus from technology stocks to less valued sectors such as energy, healthcare, and consumer staples.

Trading Volume

Previous sessions saw light trading volume at 15.5 billion shares, compared to the 20-session average of 17.7 billion.

Other Market Highlights

• The Trump administration is reportedly exploring the possibility of taking equity stakes in chip firms, including Intel.
• Target shares fell 6.30% following the announcement of a new CEO.
• Estee Lauder dropped 3.40% due to tariff-related concerns affecting its profit forecast.

Looking Ahead

Investors are eagerly anticipating two significant events:

1. Federal Reserve Chair Jerome Powell's speech at the Jackson Hole symposium
2. Nvidia's upcoming quarterly results

These events could provide further direction for the market, particularly in the technology sector.

The current market dynamics highlight the ongoing shift in investor sentiment, as investors reassess the valuation of technology stocks and seek opportunities in other sectors. As the market continues to evolve, investors will be closely watching for signs of sustainable growth across various industries.

US stock markets kicked off the trading session with slight declines as investors scrutinized mixed earnings reports from major retailers, seeking clues about consumer spending trends. The market's cautious stance comes ahead of a highly anticipated Federal Reserve symposium later this week.

Market Performance

The three major US stock indices showed modest downward movement in early trading:

Retail Earnings in Focus

Investors are closely analyzing earnings results from prominent retailers:

• Target: The big-box retailer's performance is under scrutiny.
• Lowe's: The home improvement chain's results are also being evaluated.

These earnings reports are crucial as they provide insights into consumer spending patterns, a key driver of the US economy.

Looking Ahead: Federal Reserve Symposium

Market participants are turning their attention to an upcoming Federal Reserve symposium scheduled for later this week. This event is expected to offer valuable insights into the central bank's perspective on the economy and potential future monetary policy decisions.

The symposium comes at a time when investors are keenly watching for any signals about the Fed's stance on interest rates and its outlook on inflation and economic growth.

As the trading day progresses, market watchers will continue to digest the retail earnings data while positioning themselves ahead of the Fed's important gathering.