Wall Street traded cautiously on Wednesday, with major indices little changed at midday as investors awaited NVIDIA Corp.‘s (NASDAQ:NVDA) second-quarter earnings after the bell.
NVDA is performing well relative to peers. See the market dynamics here.
The AI giant has more than doubled in value since April's tariff-driven low, becoming the poster child of a rally that pushed the S&P 500 to record highs this month.
Traders are laser-focused on Nvidia's Blackwell chip momentum, China updates and gross margins -- three factors likely to steer not only the stock but the broader market reaction.
By midday in New York, the S&P 500 edged up 0.2% to 6,478, just shy of its record highs of 6,481. Nvidia shares added 0.1% to $182.
The Nasdaq 100 also ticked up 0.1% to 23,550, roughly 2% below its all-time peak, while the Dow gained 0.3% to 45,500, within striking distance of its 45,757 record. Small caps extended their recent streak of relative outperformance, with the Russell 2000 climbing 0.5%.
Treasuries came under mild pressure, pushing the 30-year yield to 4.96% -- its highest since Aug. 1.
Commodities were mixed: WTI crude rose 1% to $63.88, gold held flat at $3,395 and copper slipped 1% to $4.40 per pound.
Bitcoin (CRYPTO: BTC) edged up 0.2% to $112,000, building on Tuesday's 1.5% advance.
Wednesday’s Performance In Major U.S. Indices, ETFs
| Major Indices | Price | 1-day Chg. % |
| Russell 2000 | 2,370.65 | 0.5% |
| Dow Jones | 45,545.67 | 0.3% |
| S&P 500 | 6,478.73 | 0.2% |
| Nasdaq 100 | 23,552.24 | 0.1% |
According to Benzinga Pro data:
- The Vanguard S&P 500 ETF (NYSE:VOO) edged 0.2% higher to $594.21.
- The SPDR Dow Jones Industrial Average (NYSE:DIA) rose 0.30% to $455.70.
- The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) edged 0.1% up to $573.20.
- The iShares Russell 2000 ETF (NYSE:IWM) rose 0.58% to $235.65.
- The Energy Select Sector SPDR Fund (NYSE:XLE) outperformed, up 1.24%; the Utilities Select Sector SPDR Fund (NYSE:XLU) lagged, down 0.1%.
Stocks On The Move Wednesday
- MongoDB Inc. (NASDAQ:MDB) rocketed 35% in its best session on record after posting a blowout quarter and raising full-year guidance.
- Other stocks reacting to earnings included nCino Inc. (NASDAQ:NCNO) up 16%, Okta Inc. (NASDAQ:OKTA) up 2.5%, J.M. Smucker Co. (NYSE:SJM) down 6%.
- Stocks slated to report earnings after the close include Nvidia Corp., CrowdStrike Holdings Inc. (NASDAQ:CRWD), Veeva Systems Inc. (NYSE:VEEV), Agilent Technologies Inc. (NYSE:A), HP Inc. (NYSE:HPQ), NetApp Inc. (NASDAQ:NTAP), and Cooper Companies Inc. (NASDAQ:COO).
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