The stock market saw a brief decline of 150 points on Wednesday as investors awaited the release of minutes from the latest Federal Reserve policy meeting. NVIDIA, a leader in artificial intelligence, also experienced a drop ahead of its earnings report scheduled for later in the day.
During morning trading, the Dow Jones Industrial Average and S&P 500 both fell by 0.2%, while the Nasdaq composite saw a 0.6% decrease. ETFs like the Invesco QQQ Trust and SPDR S&P 500 also experienced declines.
Key events for the day included the release of minutes from the Federal Reserve meeting, as well as earnings reports from companies like Analog Devices, Palo Alto Networks, SolarEdge Technologies, Sprout Social, and Wingstop. Additionally, Amazon shares rose after joining the Dow Jones Industrial Average.
On Tuesday, major indices like the Dow Jones Industrial Average, S&P 500, and Nasdaq composite all ended lower. Analysts noted increased volume on the main exchanges, indicating the potential for market downturns.
Stocks to watch included Birkenstock, Lennar, Toll Brothers, and UiPath, among others, as they showed potential for growth in the current market rally. Apple and Microsoft also traded mixed in anticipation of market movements.
