403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
U.S. Stocks End Wednesday Higher
(MENAFN) Wall Street closed in positive territory Wednesday amid mounting anticipation for Nvidia's quarterly earnings disclosure and sharply diminishing prospects for a Federal Reserve interest rate reduction next month.
The Dow Jones Industrial Average climbed 47.03 points, or 0.10%, settling at 46,138.77 at the closing bell.
The S&P 500 advanced 24.84 points, representing a 0.38% gain, to finish at 6,642.16, while the Nasdaq Composite jumped 131.38 points, or 0.59%, concluding Wednesday's session at 22,564.23.
Market momentum strengthened as traders recalibrated their expectations for the Fed's December policy decision while awaiting after-hours financial results from the artificial intelligence chipmaker.
Nvidia shares surged 2.85% ahead of its third-quarter earnings release. Wall Street analysts project the dominant semiconductor manufacturer—the largest component in the benchmark index—will deliver results substantially exceeding forecasts, propelled by insatiable demand for its AI-focused processors and supporting technology.
Alphabet emerged among Wednesday's top performers, climbing over 3% following Tuesday's introduction of Gemini 3, the tech giant's newest artificial intelligence model generation.
Minutes from the Federal Reserve's most recent policy meeting, published Wednesday, revealed internal discord among policymakers regarding whether labor market stagnation or entrenched inflation presents the more significant economic threat, alongside disagreement about future monetary policy direction.
The division extended to December rate projections, with "many" officials expressing skepticism about implementing another reduction before year-end—a move financial markets had broadly anticipated.
CME FedWatch data showed traders Wednesday pricing just a 33.4% probability of a 25-basis-point December cut, a dramatic collapse from the previous week's 63.8% expectation.
Rate cut optimism deteriorated further after the US Bureau of Labor Statistics announced postponement of October's employment report due to data collection disruptions caused by the federal government shutdown.
The bureau stated November's report will incorporate certain October metrics and will now be published on Dec. 16 instead of Dec. 5 as originally scheduled.
In economic indicators, August's US trade deficit measured $59.6 billion, undercutting the $61.3 billion market consensus and representing a 23.8% decline from July's $78.2 billion figure, according to the Bureau of Economic Analysis.
The Dow Jones Industrial Average climbed 47.03 points, or 0.10%, settling at 46,138.77 at the closing bell.
The S&P 500 advanced 24.84 points, representing a 0.38% gain, to finish at 6,642.16, while the Nasdaq Composite jumped 131.38 points, or 0.59%, concluding Wednesday's session at 22,564.23.
Market momentum strengthened as traders recalibrated their expectations for the Fed's December policy decision while awaiting after-hours financial results from the artificial intelligence chipmaker.
Nvidia shares surged 2.85% ahead of its third-quarter earnings release. Wall Street analysts project the dominant semiconductor manufacturer—the largest component in the benchmark index—will deliver results substantially exceeding forecasts, propelled by insatiable demand for its AI-focused processors and supporting technology.
Alphabet emerged among Wednesday's top performers, climbing over 3% following Tuesday's introduction of Gemini 3, the tech giant's newest artificial intelligence model generation.
Minutes from the Federal Reserve's most recent policy meeting, published Wednesday, revealed internal discord among policymakers regarding whether labor market stagnation or entrenched inflation presents the more significant economic threat, alongside disagreement about future monetary policy direction.
The division extended to December rate projections, with "many" officials expressing skepticism about implementing another reduction before year-end—a move financial markets had broadly anticipated.
CME FedWatch data showed traders Wednesday pricing just a 33.4% probability of a 25-basis-point December cut, a dramatic collapse from the previous week's 63.8% expectation.
Rate cut optimism deteriorated further after the US Bureau of Labor Statistics announced postponement of October's employment report due to data collection disruptions caused by the federal government shutdown.
The bureau stated November's report will incorporate certain October metrics and will now be published on Dec. 16 instead of Dec. 5 as originally scheduled.
In economic indicators, August's US trade deficit measured $59.6 billion, undercutting the $61.3 billion market consensus and representing a 23.8% decline from July's $78.2 billion figure, according to the Bureau of Economic Analysis.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment