The key stock market indexes gained strength in the last half-hour of trading on Wednesday. The Dow Jones Industrial Average and S&P 500 saw modest gains, while the Nasdaq cut its losses. Investors were eagerly anticipating the earnings report from artificial intelligence leader Nvidia after the market closed.
Minutes from the Federal Reserve’s Open Market Committee indicated that policymakers believed the policy rate had likely reached its peak. However, they also expressed concern about the risks of adjusting policy too quickly. The 10-year Treasury yield remained steady at 4.32%.
In the stock market today, the Dow closed up 0.1%, the S&P 500 edged higher by 0.1%, and the Nasdaq ended the day down 0.3%. The Russell 2000 small-cap index dropped nearly 0.5%. Trading volume was lower than the day before.
Nvidia’s stock pulled back in regular trading but rose in after-hours trading following better-than-expected quarterly results. Nvidia partner Vertiv Holdings saw its stock decline after releasing mixed earnings and revenue guidance.
Palo Alto Networks shares tumbled significantly after providing a disappointing outlook despite beating earnings and sales expectations. Other cybersecurity stocks such as CrowdStrike Holdings, Zscaler, and Check Point Software also saw declines.
Garmin’s stock surged after reporting strong fourth-quarter results, while Global-e Online and Sprout Social experienced sharp declines. Wix’s stock rose following a positive earnings report.
Apple ended the day in positive territory, breaking a losing streak, while Amazon gained momentum and will replace Walgreens Boots Alliance in the Dow Jones Industrial Average. SolarEdge Technologies’ stock fell after issuing a weak sales outlook, while Crispr Therapeutics’ stock climbed after reporting better-than-expected results.
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