U.S. stocks on the move: Skydance, Nvidia, Take-Two Interactive
SPY•At 10:30 a.m. EST, U.S. stock indexes were lower after hotter-than-expected October inflation reinforced concerns that the Federal Reserve could keep rates higher for longer. Take-Two rose 8.1%, while Skydance fell 9.3%; Nvidia pared gains.
1. Index declines
Wall Street's main indexes retreated on Tuesday, pausing a two-day rebound in technology shares. At 10:30 a.m. EST, the Dow was down 0.44%, the S&P 500 0.40% and the Nasdaq Composite 0.39%.
2. Company moves
Take-Two Interactive Software shares gained 8.1% after the company raised its annual revenue and profit outlook. Skydance shares fell 9.3% after a profit warning and an outlined $6 billion cost-cut plan. Nvidia shares pared gains after a report that Jensen Huang's affair enabled $7.5 billion in chip shipments to China.
