Stocks Muted Ahead of Fed Minutes, Nvidia Results
Wall Street's main indexes were subdued Wednesday after a sharp rally in the previous session sparked by easing trade tensions, as investors awaited AI leader Nvidia's results and minutes from the U.S. Federal Reserve's last policy meeting.
Nvidia is expected to report a 66.2% surge in first-quarter revenue, according to data compiled by LSEG. Shares of the chipmaker rose 0.2% ahead of its earnings, due to be released after markets close.
"There's kind of wait and see for Nvidia earnings tonight, which have become one of the big macro market movers, both because of the leverage to the AI trade and the AI theme and also because of the linkages to global trade," said Ross Mayfield, investment strategist at Baird.