• NVDA stock is taking a breather. What’s next for NVDA stock?
President Donald Trump said the U.S. is in the "final stage" of negotiations with Iran, while Iran's Foreign Ministry said exchanges between Tehran and Washington are still ongoing and continue to be based on Iran's 14-point proposal.
WTI crude tumbled 5.1% to $98.83 a barrel, retreating from triple-digit territory after closing above $104 on Tuesday. Brent crude sank 5.3% to $105.39, although both benchmarks remain more than 70% higher year-to-date as the Strait of Hormuz stand-off continues to keep prices roughly 50% above pre-war levels.
Long-end Treasury yields eased modestly. The 10-year yield slipped eight basis points to 4.59% after touching a 16-month high of 4.70% on Tuesday, while the 30-year yield retreated seven basis points to 5.12% from an 18-year peak.
Markets are still pricing roughly 50% odds of a Federal Reserve rate hike in December, and traders are awaiting the FOMC minutes due later in the session for further guidance.
Across U.S. equity markets by midday Wednesday, gains were broad-based. The S&P 500 climbed 0.9% to 7,418, on track to halt a three-day losing streak.
The Nasdaq 100 rose 1.1% to 29,148, powered by semiconductors. Within Magnificent Seven stocks, Nvidia climbed 2% ahead of its quarterly print, Amazon.com Inc. (NASDAQ:AMZN) added 2%, Tesla Inc. (NASDAQ:TSLA) rose 2.1%, Meta Platforms Inc. (NASDAQ:META) gained 0.5%, and Apple Inc (NASDAQ:AAPL) was up slightly at 0.48%, while Microsoft Corp. (NASDAQ:MSFT) and Alphabet Inc. (NASDAQ:GOOGL) traded slightly in the red.
The Russell 2000 outperformed, rallying 2.3% as falling oil prices and easing yields revived risk appetite in small caps.
Wednesday’s Performance In Major U.S. Indices
Index
Last
% Change
S&P 500
7,418.53
+0.9%
Dow Jones
49,851
+1.0%
Nasdaq ...
