Wall Street today: US stocks drift ahead of Nvidia earnings, Federal Reserve minutes
US stock indices were drifting on Wednesday ahead of earnings from the Artificial Intelligence-chip developer Nvidia and the minutes from the Federal Reserve’s last monetary policy meeting.
As of 12:11 PM Eastern time, the S&P 500 was down 0.2%, the Dow Jones Industrial Average was down 0.3%, and the Nasdaq Composite was 0.1% lower.
At 10:29 AM EDT, the Dow Jones Industrial Average fell 37.75 points, the S&P 500 lost 7.86 points, and the Nasdaq Compositedropped 29.80 points.
At the opening bell, the Dow Jones Industrial Average rose 18.0 points, or 0.04%, to 42361.63. The S&P 500 rose 4.0 points, or 0.07%, to 5925.54, while the Nasdaq Composite rose 33.5 points, or 0.17%, to 19232.619.
On Tuesday, the US stocks closed sharply higher following President Donald Trump’s move to delay tariffs on the European Union.
In the bond market, the yield on the 10-year Treasury surged to 4.46% from 4.43% late on Tuesday.
Gainers and Losers
Among megacap stocks, Google-parent Alphabet rose 0.16%, Meta Platforms added 0.41% and Nvidia fell 0.16%.
Dick’s Sporting Goods shares rose 2.6% as the company posted solid quarterly results.
Michael Kors-owner Capri Holdings gained 4.05% after reporting robust fourth quarter revenue.
Okta’s stock dropped 14% after the cybersecurity firm flagged risks related to the uncertain economic environment.
Macy’s shares edged up 2.28% after the retailer reported milder fall in revenue and profit.
Video-game retailer GameStop tumbled 11.77% after saying it had bought 4,710 bitcoins, which is worth more than $510 million at its current price.
Bullion
Gold prices gained on Wednesday ahead of minutes from the Federal Reserve’s latest policy meeting.
Spot gold rose 0.4% to $3,312.05 an ounce by 08:56 AM EDT (1255 GMT). US gold futures added 0.3% to $3,310.60.
Spot silver declined 0.3% to $33.20 an ounce, platinum rose 0.8% to $1,088.65 and palladium eased 0.6% at $972.36.
Crude oil
Oil prices rebounded on Wednesday amid OPEC’s plans to review production quotas.
Brent rose near $65 a barrel after closing 1% lower on Tuesday.
