US stocks struggled to find footing in the final minutes of Wednesday trading as investors braced for Nvidia Corp. earnings and weighed the latest Ukraine-Russia tensions. The dollar rose.
The S&P 500 ended the day little changed as did the Nasdaq 100. The technology heavy gauge fell more than 1% intraday following Ukraine's missile strikes on Russia. Investors are awaiting Nvidia Corp.'s quarterly results after the market close to gauge if the stock can continue its remarkable run. Shares of the world's most valuable company fell 0.8% at the close.
Treasuries fell across the curve after an auction of 20-year bonds received a lukewarm reception, adding to the cautious tone on Wall Street.
Trading in options signaled Nvidia results will be the most important catalyst left this year — more than the Federal Reserve's December meeting, according to Barclays Plc strategists. Its stock price has nearly tripled in 2024.
A big Nvidia rally after earnings poses a risk to smaller stocks, according to Bespoke Investment Group.
The S&P 500 was little changed as of 4 p.m. New York time
The Nasdaq 100 was little changed
The Dow Jones Industrial Average rose 0.3%
Source : Bloomberg
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