Stocks Slip Ahead of Nvidia Earnings and Fed Minutes; Palo Alto Networks Plunges on Outlook Cut
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US stocks slipped ahead of Nvidia earnings and Fed minutes; S&P 500 down 0.3%, Dow sheds 0.4%, Nasdaq drops 0.5%.
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Shares of Palo Alto Networks plunged over 25% after the company cut its revenue outlook, sparking tech spending pullback worries.
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Walgreens stock slid 3% after losing its place on the Dow Jones index to Amazon.
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Investor focus is also on Federal Reserve meeting minutes for insights into potential interest rate moves.
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Stocks of major food and beverage companies like PepsiCo, Coca-Cola and Hershey’s are in the spotlight at the annual CAGNY conference in Florida.