Quick overview

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US stocks fell on Monday as traders’ focus returned to tariffs and corporate America’s profit outlook, following last week’s exuberance over the possibility of interest-rate cuts. The S&P 500 Index was down 0.2 percent. m. in New York, after soaring 12.5 percent on Friday to trade just short of records, marking its first gain in six sessions.

The Nasdaq 100 Index dropped 0.3 percent before the release of Nvidia Corp.’s earnings.  Nvidia is expected to allay concerns about AI spending and successfully reassure investors that the recent surge in the stock market isn’t merely a tech bubble. Nvidia has significant sway over the market as a bellwether due to its heavy weighting and position as a major supplier of chips for artificial intelligence.  Dell Technologies and Marvell Technologies will also present the findings later this week.

Keurig Dr Pepper Inc. fell 8.2 percent after deciding to pay $18.4 billion to acquire JDE Peet’s NV to support its faltering coffee business and begin a division of its operations. Following the announcement of a “major Tariff Investigation on Furniture coming into the United States” by President Donald Trump, furniture stocks fell. Arhaus and RH experienced respective declines of 3.9 percent and 9.1 percent.

Federal Reserve Chair Jerome Powell hinted that interest rate cuts were imminent, which has given traders some comfort this week. Reading about the euphoria surrounding artificial intelligence, which has been fueling gains for the past few years, will be the next test for the stock market.