Dow Slips From Highs As Investors Eye Economic Data, Earnings For Rate Cut Clues
• The Dow Jones Industrial Average fell nearly 100 points on Tuesday, ending a recent run of record highs amid a wait-and-see environment in markets.
• Investors are eyeing fresh economic data like consumer sentiment and the PCE inflation gauge to clarify the Fed's timeline for interest rate cuts.
• AI chipmaker Nvidia's strong earnings last week sparked records, but stocks traded sideways Tuesday as traders recalibrate expectations.
• Consumer confidence fell in February after hitting a 6-month high, possibly due to rising rates curbing housing demand.
• Macy's announced a strategy to boost growth by closing 150 stores after beating earnings estimates, while Lowe's missed sales targets amid slowing DIY demand.