US stocks were muted on Wednesday ahead of chip giant Nvidia’s quarterly results and the US Federal Reserve’s policy meeting minutes.
Nvidia, based in Santa Clara, California, will release its first quarter earnings after the market close on Wednesday.
Nvidia’s stock is the third largest on Wall Street, following its more than 92% surge this year and an over threefold jump in 2023.
At 11:01 a.m. EDT, the Nvidia stock was at $947.91, down 0.62 per cent.
The minutes from the US central bank’s latest policy meeting, are due at 2 pm ET.
At 10:02 a.m. ET, the Dow Jones Industrial Average was down 27.67 points, or 0.07 per cent, at 39,845.32, the S&P 500 was down 0.82 points, or 0.02 per cent, at 5,320.59, and the Nasdaq Composite was up 11.95 points, or 0.07 per cent, at 16,844.57.
At the opening bell, the Dow Jones Industrial Average fell 9.66 points, or 0.02 per cent, to 39,863.33. The S&P 500 was lower by 2.13 points, or 0.04 per cent, at 5,319.28, while the Nasdaq Composite gained 6.40 points, or 0.04 per cent, to 16,839.02.
The yield on the 10-year Treasury rose to 4.43% from 4.41% late on Tuesday.
Chipmaker Analog Devices climbed 7.6 per cent after forecasting third quarter revenue above Wall Street expectations.
Shares of Target tumbled 8.7 per cent after the retailer reported quarter results.
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Published: 22 May 2024, 07:34 PM IST
