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US stock indices ended Wednesday’s session mixed ahead of Nvidia’s earnings release. The S&P 500 finished little changed, the Nasdaq edged higher, and the Dow fell 113 points. Technology shares generally advanced into Nvidia’s (-1.6%) results, which are widely seen as a key indicator of future capital spending by AI-focused hyperscalers. Consensus forecasts point to revenue nearly doubling year-on-year, which would represent the fastest growth in two years.
Chipmakers and hyperscalers mostly traded higher: Microsoft rose 0.9%, Meta gained 1.1%, Micron added 0.6%, and AMD advanced 0.4%. Meta was additionally supported by a settlement with US states over its social media practices targeting teenagers. By contrast, Intuit dropped 3.2% after its guidance came in below the upper end of market expectations.
More traditional sectors remained under pressure amid ongoing concerns about a challenging macroeconomic backdrop. At the same time, solid consumer spending and income growth, together with stronger‑than‑expected PCE inflation readings, reinforced expectations that the Federal Reserve will maintain a restrictive policy stance.
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