© Reuters. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., November 17, 2023. REUTERS/Brendan McDermid/File Photo
By Amruta Khandekar and Shristi Achar A
(Reuters) -U.S. stocks fell on Tuesday, pulling back after a recent streak of gains as investors awaited Nvidia (NASDAQ:)’s quarterly results and minutes of the Federal Reserve’s last policy meeting for clues on the central bank’s interest rate path.
A technology-fueled rally led the and the Nasdaq to register their highest closing levels in over three months on Monday, as investors continued to bet that the Fed was at the end of its rate-hiking cycle.
Both indexes were on track to snap a five-day winning streak on Tuesday.
Equities are giving back some of their recent gains, said Roosevelt Bowman, senior investment strategist at Bernstein Private Wealth Management.
“What’s supportive of markets going into the end of the year is reduced uncertainty around the Federal funds rate and reduced interest rate volatility,” Bowman said.
Big Tech stocks, which have powered most of the S&P 500’s gains this year, face an important test, with Nvidia due to report third-quarter…
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