The American stocks were slightly oscillating on Wednesday, while investors analyzed the latest reports on the earnings and minutes of the Federal Reserve Meeting waiting for the quarterly data of Nvidia.
S & P 500 traded with a drop of 0.2%, while Nasdaq Composite fell by 0.1%. Dow Jones Industrial Average fell for 159 points, ie 0.4%.
The stocks of OkTe fell more than 13% after identity management software has maintained their guidelines for stable despite better than expected quarter due to macroeconomic uncertainty. On the other hand, Abercrombie & Fitch and Dick had increased by more than 16% and 2% after quarterly reports.
Nvidia will publish earnings after the report is reported. Investors will closely monitor what Chinese restrictions mean to the chips for artificial intelligence, which does not see the slowdown in demand for their graphic processors. The shares rose by almost 1% before the report.
“Great drivers of the economy that somewhat prevent it in recession and maintain corporate profits of positive are consumption and business investment,” Tom Hainlin said, a senior investment strategist in the US bank. “Nvidia is a key indicator: Did companies speed their investments?”
The shares remained in the range after the FED published a record from his May Meeting on Wednesday afternoon. The minutes showed that the participants felt that the cautious approach to monetary policy is appropriate in the middle of the period of economic uncertainty and that it could face “heavy compromises” if inflation increases.
The traders also followed growing bond yields. The yield of 30-year state bonds reached a level of 5% on Wednesday, SEEbiz reports.
