Stocks Little Changed Ahead of Nvidia Earnings
The S&P 500 ticked higher on Wednesday as investors turn their eyes to Nvidia earnings, which could be a make-or-break moment for the bull market.
The Dow Jones Industrials gained 93.18 points to open Wednesday at 45,511.28.
The broader index gained 10.66 points to 6,476.60. Nvidia, which accounts for roughly 8% of the S&P 500, has the biggest weight in the broad market index
The NASDAQ tacked on 32.38 points to 21,576.65.
Some individual names managed strong gains despite the muted action in the broader market. MongoDB popped 32% after the developer data platform topped Wall Street’s expectations. Okta jumped 2% after its quarterly results and full-year forecast beat consensus estimates.
Prices for 10-year Treasury regained lost ground Wednesday upping yields to 4.28% from Tuesday’s 4.26%. Treasury prices and yields move in opposite directions.
Oil prices increased 42 cents to $63.67 U.S. a barrel.
Gold prices retreated $2.40 at $3,430.60 U.S. an ounce.
