- U.S. equities fell at midday Monday, Feb. 5, 2024 as comments by Federal Reserve Chair Jerome Powell raised concerns policymakers might not rush to cut interest rates.
- Nvidia shares hit a record high after Goldman Sachs raised its price target in anticipation of gains from the artificial intelligence boom.
- McDonald's reported conflicts in the Middle East hurt its sales and shares declined.
McDonald’s (MCD) shares tumbled after the fast-food giant missed revenue forecasts as fighting in the Middle East hurt its sales there.
The price of gold and other precious metals dropped, and that drove down shares of Freeport-McMoRan (FCX) and rival miners.
Tyson Foods (TSN) reported better-than-expected results on cost-cutting moves, and shares advanced.
Oil futures declined. The U.S. dollar was higher versus the euro, pound, and yen. Most major cryptocurrencies traded in the red.