Wall Street opens flat as investors eye Nvidia results, Fed minutes

Investor caution was evident as the market digested a new round of earnings

Wall Street stocks were little changed at Wednesday’s open as investors weighed mixed corporate earnings and awaited key macro signals from the Federal Reserve and Nvidia’s highly anticipated results.

The S&P 500 and Nasdaq Composite each edged up 0.3%, while the Dow Jones Industrial Average gained 101 points, or 0.2%, building modestly on Tuesday’s sharp rally.

Investor caution was evident as the market digested a new round of earnings. Shares of Okta plunged 11% after the identity management company maintained its guidance, citing macroeconomic uncertainty. In contrast, Abercrombie & Fitch soared more than 31% after posting strong results, while Macy’s rose over 1%.

All eyes now turn to Nvidia, which reports quarterly results after the closing bell. The chipmaker has become a bellwether for AI-driven market sentiment, and investors are particularly focused on its commentary around US-China restrictions and sustained demand for its graphics processors. Nvidia shares were largely unchanged in early trade.

At 2 p.m. ET, the Federal Reserve will release minutes from its May policy meeting. Market participants are looking for any fresh signals on the central bank’s interest rate trajectory amid persistent inflation concerns and global economic uncertainty.

The cautious start comes after a powerful rebound on Tuesday, when the Dow Jones surged over 700 points and the Nasdaq jumped 2.5%, snapping a four-day losing streak. Sentiment improved after President Donald Trump announced a delay in imposing 50% tariffs on EU imports, pushing the deadline to July 9 and reviving hopes for a trade resolution.

Globally...

European stocks ended broadly higher on Tuesday as easing concerns over U.S.-EU trade tensions lifted sentiment. The pan-European Stoxx 600 rose 0.33%, supported by a rebound in industrials and defense shares.

Germany’s DAX gained 0.83% to close at a fresh record of 24,226.49, led by defense firm Hensoldt, amid renewed focus on security spending due to ongoing geopolitical tensions and the EU’s newly approved €150 billion arms fund.

Bond markets were also in focus, with yields easing across Europe and the U.S. after reports suggested Japan may scale back long-duration debt issuance, potentially shifting investor demand to Western markets.

Markets largely brushed off recent volatility, as hopes grew that President Trump’s decision to delay steep tariffs on EU imports could pave the way for a trade resolution ahead of the new July 9 deadline.