Wall Street Stalls As Treasury Yields Climb Again Ahead Of Nvidia Earnings, Fed Minutes: What’s Driving Markets Wednesday?
After a sharp Tuesday rally fueled by optimism over improved U.S.-EU trade ties, Wall Street stalled midweek as rising Treasury yields reasserted pressure ahead of Nvidia Corp. (NASDAQ:NVDA)’s earnings report and the release of key Federal Reserve minutes.
Major U.S. stock indexes paused on Wednesday, digesting recent gains as yields on longer-term Treasury bonds resumed their climb. The S&P 500 slipped 0.2% to 5,900 points by midday in New York, while the tech-heavy Nasdaq 100 held flat. Small-cap stocks underperformed sharply, with the Russell 2000 down 0.8%.
Sector performance was broadly negative, with 9 of the 11 S&P 500 sectors trading lower. Technology and communication services were the only sectors managing to avoid losses.
All eyes are on Nvidia, which is set to report earnings after Wednesday’s closing bell. Wall Street expects earnings per share of 88 cents and revenue of $43.2 billion, according to Benzinga Pro estimates.
Beyond the headline figures, investors will be closely watching two key aspects: the impact of the U.S. export ban on the H20 chips destined for China and the forward guidance. CEO Jensen Huang already said the company could face a $5 billion annual …
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