On Wednesday, U.S. stocks declined as the market continued to grapple with the Federal Reserve's impending rate decisions, following a period of substantial selling pressure over the previous four sessions. The Dow Jones Industrial Average fell by 100 points, while both the S&P 500 and the Nasdaq 100 hovered near unchanged levels. Nvidia's stock gained 2% ahead of its earnings release post-market close, with expectations for a more moderate yet significant revenue increase. Investors are particularly attentive to Nvidia's guidance on AI services and computing capacity, as skepticism grows about whether substantial datacenter investments will yield the anticipated financial returns.
In terms of retailer performance, Target's shares fell by over 3%, whereas Lowe’s and TJX Companies saw gains, reflecting a mixed day for retail stocks following their earnings reports. Additionally, the minutes from the recent Federal Open Market Committee (FOMC) meeting revealed a split among members on whether to maintain or reduce rates in the next session. Moreover, the delay of the Bureau of Labor Statistics' jobs report until after the Fed's final decision of the year could potentially obscure underlying weaknesses in the labor market, prompting markets to increasingly anticipate a rate hold.
