(MENAFN) U.S. equities finished higher on Wednesday as market participants anticipated the third-quarter financial report from chip titan Nvidia, while expectations for a Federal Reserve rate reduction continued to wane.

The Dow Jones Industrial Average increased by 0.10%, adding 47.03 points to close at 46,138.77.
The S&P 500 rose 0.38%, or 24.84 points, to finish at 6,642.16, while the Nasdaq advanced 0.59%, climbing 131.38 points to settle midweek at 22,564.23.

Markets were lifted by declining prospects of a rate cut at the Federal Reserve's December meeting, alongside anticipation for Nvidia's financial disclosure after the market close.

Shares of Nvidia climbed 2.85% ahead of its third-quarter earnings report. Analysts expect the chip giant, the largest in the broad-market index, to considerably exceed market projections and forecast strong revenue growth, driven by demand for its AI chips and other infrastructure products.

Alphabet also gained over 3%, making it one of the day’s top performers. The company’s latest AI model generation, Gemini 3, unveiled Tuesday, contributed to the uptick in its stock.

Meanwhile, the minutes from the Fed’s most recent meeting, released Wednesday, revealed that officials remained divided over whether a sluggish labor market or persistent inflation posed the greater economic threat, and also differed on the trajectory of interest rates.

The divergence extended to December’s projections, with policymakers questioning the need for a further cut that investors had been anticipating.

According to the minutes, "many" officials indicated that no additional reductions are necessary at least until year-end.

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