All three major indexes recovered yesterday's losses
Stocks finished higher on Wednesday as oil prices and Treasury yields cooled off, with all eyes now on Nvidia earnings released after the bell. The Dow recovered yesterday's losses and added over 645 points for its best day since April 30, while the Nasdaq and S&P 500 both snapped a three-day losing streak. Elsewhere, minutes from the latest Fed meeting hinted at increased potential for interest rate hikes amid stubborn inflation.
Continue reading for more on today's market, including:
5 Things to Know Today
- Iran tightens control over the Strait of Hormuz through checkpoints, inspections, and diplomatic shipping deals. (Reuters)
- Iran warns conflict with the U.S. could expand far beyond the region if strikes resume. (Bloomberg)
- Target shares dipped below key support after earnings.
- Lowe's reaffirms guidance despite housing pressure.
- A look at Nvidia stock's post-earnings history and wide-ranging impact.
Oil Extends Pullback on Resolution Hopes
On Wednesday, oil extended its pullback below $100 per barrel amid U.S.-Iran resolution talks. June-dated West Texas Intermediate (WTI) shed 5.7% to settle at $98.26 per barrel.
Gold prices inched higher Wednesday as Treasury yields eased. June-dated gold futures gained 0.5% to settle at $4,535.30 per ounce.