DJIA down 0.05% (Il Sole 24 Ore Radiocor) - New York, 27 Aug - US shares opened lower as a tech slide continued to weigh on sentiment ahead of a key earnings report from AI giant Nvidia.

Nvidia results, on tap tomorrow, are seen as a potential market mover given the chip designer's role this last year in driving stocks higher on the back of AI frenzy.

Investors are also setting out their stalls for a series of key data readings due later this week including a second GDP reading, jobless claims and, critically, the inflation gauge favored by the Federal Reserve.

On Friday, Fed chief Jerome Powell signalled the time was right for an interest rate cut, but did not say when or by how much. Friday's PCE price index could cemment, or sink, growing hopes of a 50 basis point cut in September rather than just a quarter point.

In data today home prices lost momentum though the rate of increase remains high while consumer confidence and the Richmond Fed manufacturing index are due later.

On the stocks front, shares in Paramount fell 4.5% in early trade after Edgar Bronfman scrapped his bid for the media group while JD.com rose more than 3% after the Chinese e-commerce group announced a share buyback program of up to 5 billion dollars.

Just after the opening bell the Dow Jones was down 18.59 points, or 0.05%, at 41,221.93, the S&P 500 was down 11.92 points, or 0.21%, at 5,604.92 while the Nasdaq was down 68.43 points, or 0.39%, at 17,657.34.

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(RADIOCOR) 27-08-24 15:39:59 (0388) 5 NNNN