Dow closed over 200 points lower Wednesday ahead of Nvidia earnings: Live updates show live updates

the NYSE.

Wednesday saw a decline in stocks as investors analyzed the minutes of the Federal Reserve meeting and the most recent earnings reports while anticipating Nvidia’s quarterly results.

The Nasdaq Composite fell 0 points 51 percent and ended the day at 19,100 points 94, while the SandP 500 fell 0 points 56 percent to finish at 5,888 points 55. At 42,098.70, the Dow Jones Industrial Average closed down 244.95 points, or 0.58 percent.

Despite a better-than-expected quarter, Okta’s shares fell more than 16 percent after the identity management software company maintained its guidance due to macroeconomic uncertainty. However, after releasing their quarterly reports, Dick’s Sporting Goods and Abercrombie & Fitch both saw increases of almost 2 percent and more than 14 percent, respectively.

After the bell, Nvidia is scheduled to release its earnings. Since the artificial intelligence chipmaker sees no slowdown in demand for its graphics processors, investors will be closely monitoring the impact of China’s restrictions. Ahead of the report, shares ended the day slightly lower.

Tom Hainlin, senior investment strategist at U.S., stated that “business investment and consumer spending are the big drivers of the economy that’s kind of keeping it out of a recession and keeping corporate profits positive.”. S. . bank. “Nvidia’s a key indicator of: Did businesses accelerate their investments?”.

Minutes of the Fed’s May meeting were made public Wednesday afternoon. In an era of economic uncertainty, they demonstrated that participants believed a cautious monetary policy approach was appropriate, but that it might have to make “difficult tradeoffs” if inflation increased.

Bond yields were also being watched by traders. During Wednesday’s session, the 30-year Treasury yield notable briefly hit the 5 percent mark.

Investors had just concluded a successful session. A four-day losing streak was ended on Tuesday when the 30-stock Dow recovered more than 700 points, or roughly 1 point 8 percent, and the S&P 500 increased 2 percent. The Nasdaq Composite saw a gain of about 2.5 percent.

These actions follow President Donald Trump’s announcement on Sunday that he would postpone a 50 percent tariff on the European Union until July 9 after initially declaring on Friday that he was “not looking for a deal.”. This increased investors’ expectations that the stock market would recover from the worst of the tariff chaos.

Stocks end the day down.

The session ended Wednesday for all three major indexes lower.

Each of the Dow and S&P 500 ended the day about 0.6 percent lower. Ultimately, the Nasdaq Composite fell 0.5 percent.

— Harring Alex.

Last week, Bank of America customers sold stocks.

According to a note from Jill Carey Hall, the firm’s equity and quant strategist, Bank of America clients were not buying the dip during the stock market downturn last week.

“Last week, for the first time in five weeks, clients were net sellers of US stocks (-$0.3 billion), with the S&P 500 down 2 points. According to the note, selling was concentrated in single stocks (first outflows in six weeks), fixed income and other ETFs drove muted ETF inflows, and equity ETFs experienced outflows for the first time in five weeks.

Clients purchased energy stocks but sold tech and health care stocks on a sector basis.

Pound, Jesse.

According to UBS, there is “limited” upside for stocks in 2025, and the rally will continue the following year.

UBS predicts that this year’s market theme will be trade deal volatility, which will limit stock market upside.

“Considering the U. A. More volatile episodes are probably in store as trade talks between the U.S. and other countries continue, given the president’s willingness to use aggressive rhetoric. S. . and the EU and China, its two biggest trading partners,” the bank wrote in a note on Tuesday. Since the S&P 500 is currently only 4% from its record high in February, we do not anticipate a smooth path to agreement and think that additional gains this year will probably be modest. “.

Nonetheless, the bank’s underlying argument is that “in the end, pragmatism will win out over confrontation.”. “.

According to UBS, the equity market rally could continue into 2026 if trade tensions subside, with the S&P 500 hitting about 6,400 by June. That’s about 8% higher than the index’s close on Tuesday.

Han, Lisa Kailai.

Before earnings, Nvidia rises.

As investors waited tensely for the megacap tech giant’s earnings report following the bell, Nvidia shares surged more than 1 percent during Wednesday’s morning trading session.

That increase brings Nvidia’s weekly gain to over 4 percent.

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— Alex Harring.

Stocks don’t move much after the Fed meeting minutes.

Following Wednesday afternoon’s release of the Federal Reserve’s May meeting minutes, stocks saw minimal movement.

According to the minutes, participants believed that in an uncertain economic climate, a cautious monetary policy approach was appropriate. Additionally, they said that if inflation increases, the central bank may have to make “difficult tradeoffs”.

— Harring, Alex.

According to FHFA director Pulte, FICO price hikes lacked a “legitimate basis.”.

William Pulte, the director of the Federal Housing Finance Agency, stated on CNBC’s “Money Movers” that Fair Isaac has caused housing industry participants to become “very upset” over a recent increase in credit score prices that, in his opinion, lacked a “legitimate basis.”. “..”.

“In the era of automation and artificial intelligence, we need to just make sure that they are as low-cost as possible,” Pulte stated, adding that FICO was and is undoubtedly still a fantastic company.

The director said that FHFA was looking into ways to push for change at FICO or possibly find a way to work around the company.

As a regulator, Pulte stated, “I’m just focused on reducing costs.”.

Over the last two weeks, FICO’s stock has experienced multiple sharp selloffs, and it has lost 26% since May 19. Some of those drops are in line with Pulte’s posts on X regarding the growing expense of credit checks, but he denied that his remarks on social media were the cause of the changes. On Wednesday, the stock had increased by over 7%.

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Pound, Jesse.

During midday trading, Abercrombie & Fitch, Okta, and Vail Resorts were among the stocks that moved.

Getty Images | Stephanie Keith | Bloomberg.

In Wednesday’s midday trading, a few stocks are moving significantly.

Abercrombie & Fitch – Following first-quarter earnings and revenue that exceeded street projections, primarily due to Hollister’s performance, the retailer’s shares surged 19 percent. Investors ignored A&F’s decision to lower its operating margin forecast and profit guidance due to tariffs, which the company claimed would negatively impact its operations by $50 million.

When Okta, a company that makes identity management software, left its guidance unchanged and cited macroeconomic uncertainty, its shares fell more than 14%. Revenue and earnings for the company’s first quarter exceeded projections.

Vail Resorts: Following Rob Katz’s return as CEO in lieu of Kirsten Lynch, the ski resort operator saw a more than 12% increase in value. The CEO, Katz, was the executive chair from 2006 to 2021.

The complete list can be found here.

Sean Conlon.

GameStop declines 10% even though it has started a bitcoin purchase plan.

Reuters | Brendan McDermid.

GameStop’s stock fell 10% during tumultuous trading on Wednesday, following the video game retailer’s announcement that it had formally purchased 4,710 bitcoins, valued at over half a billion dollars.

GameStop, which as of February had accumulated $4.76 billion in cash, started its cryptocurrency buying program in a similar move that MicroStrategy made well-known. The purchase was made just as bitcoin reached a record high of almost $112,000 in value.

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Yun Li.

The 30-year Treasury yield is more than 5%.

The thirty-year U. A. On Wednesday, the Treasury yield returned to above the widely watched 5 percent mark. To find out more about the factors influencing the bond market, click this link.

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— Alex Harring.

Little caps don’t do well.

On Wednesday, small-cap stocks performed poorly.

The Russell 2000, a small-cap index, fell 0.7 percent. Comparatively, the S&P 500 fell 0.2 percentage points.

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— Harring, Alex.

Elliott’s Marc Steinberg joins Honeywell’s board of directors.

In advance of its division into three separately traded companies, Honeywell announced on Wednesday that Marc Steinberg of Elliott Investment Management has been appointed to its board of directors.

With effect from May 31, Steinberg, a partner at activist investor Elliott, will become an independent director and member of the audit committee.

Elliott revealed that it acquired a $5 billion or more stake in Honeywell last year, which prompted the action.

Conlon, Sean.

Bank of America believes that Seagate Technology will see a 15% increase in the future.

Getty Images | Justin Sullivan.

After several discussions with Seagate Technology’s CFO, Gianluca Romano, Bank of America lowered its price target for the buy-rated data storage company.

Seagate shares have increased by 36% so far this year. The stock could rise by an additional 15%, according to analyst Wamsi Mohan’s revised price target of $135, up from $125.

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Citing secular demand trends from cloud storage as well as revenue and margin recovery from trough levels, Mohan reaffirmed his buy recommendation. Meanwhile, heat-assisted magnetic recording, or HAMR, is a magnetic storage technology that can expand the amount of data storage that is available, and Mohan sees a lot of potential here.

“For the same margin rate, we think STX could sell 40TB HAMR at an 18–20% $/TB discount on 30TB,” the analyst wrote. But as the mix moves to HAMR, we anticipate that STX and the customer will split cost/TB reductions, which will boost STX margins. “.

Lisa Kailai Han.

Not much has changed in the stocks.

As trading begins on Wednesday, stocks have not moved much.

Shortly after 9:30 a.m., the Dow gained 0%. m. ET. Additionally, the S&P 500 increased by 0.1 percent, and the Nasdaq Composite increased by 0.2 percent.

Alex Harring.

the stocks that move the most before the market opens.

Take a look at some of the companies that are generating news in premarket trading.

Macy’s — The department store saw a gain of over 2 percent following the release of earnings that exceeded forecasts. Higher tariffs and more aggressive corporate promotions also caused Macy’s to drastically cut its profit outlook.

Okta — After maintaining its guidance, the identity management software company, citing macroeconomic uncertainty, withdrew around 10 percent. Nonetheless, the company’s top and bottom lines did surpass preliminary fiscal first-quarter projections.

Freshpet — After TD Cowen downgraded the pet food stock to hold from buy, it fell by almost 2 percent. According to the investment firm, Freshpet’s concept for refrigerated dog food is “nearing a saturation point” and sales growth may slow down.

View the complete list by clicking HERE.

— Evans, Brian.

Abercrombie soars as profits surpass projections.

Getty Images | Brandon Bell.

Following a first-quarter earnings beat, Abercrombie & Fitch shares jumped more than 27% in Wednesday’s premarket.

The store made $1.59 per share, which was more than the $1.39 analysts LSEG polled had predicted. The $1.10 billion in revenue was also higher than the $1.07 billion that the Street had projected.

Abercrombie reduced its earnings per share guidance for the entire year as well.

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— Gabrielle Fonrouge and Alex Harring.

Despite tariffs, Dick’s keeps its full-year guidance.

Even as the effects of tariffs take effect, Dick’s Sporting Goods is sticking to its guidance for the entire year, the retailer announced on Wednesday.

For fiscal 2025, Dick’s expects revenue to be between $13.6 billion and $13.9 billion, and earnings per share to be between $13.80 and $14.40. Analyst expectations are met by both forecasts, according to LSEG.

“The guidance acknowledges the dynamic macroeconomic environment while reflecting our strong start to the year and confidence in our strategies and operational strength,” said CEO Lauren Hobart. “,”.

In premarket trading, shares rose 1.3 percent.

Jennifer Fox and Gabrielle Fonrouge.

On earnings, Macy’s beats expectations.

Getty Images | Corbis News | Eduardo Munoz Alvarez.

Following first-quarter earnings that surpassed forecasts, Macy’s shares increased by roughly 3% before the bell on Wednesday.

With $4.66 billion in sales, the retailer made an adjusted 16 cents per share. LSEG polled analysts, who predicted 14 cents and $4.05 billion, respectively.

But the business cut its full-year profit forecast.

They are Melissa Repko and Alex Harring.

According to Mizuho, the semiconductor manufacturer Broadcom has a 6% upside.

Mizuho reaffirmed Broadcom as one of its top picks in a note on Tuesday. The semiconductor manufacturer’s price target was also increased by the bank from $250 to $300 per share.

This year, Broadcom’s stock has increased by almost 2%. The revised Mizuho forecast is about 6% higher than Tuesday’s closing share price.

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Analyst Vijay Rakesh stated that Broadcom is still a market leader with high profitability and should continue to gain from important secular artificial intelligence drive tailwinds.

The analyst went on, “With ramps in networking and artificial intelligence, a strong position in wireless, and margin-accretive software, we see AVGO well positioned.”. “We anticipate that iPhone content will continue to be strong, driving iPhone 16 with the possibility of even greater gains in 17.”. “.

— Lisa Kailai Han.

According to Raymond James, there will probably be uncertainty through at least July and August.

Timothy (A). Getty Images | Afp | Clary.

Until investors receive some clarity on tariffs and the U.S. economy, stocks are likely to stay volatile throughout the summer. S. “budget,” Raymond James said.

According to Raymond James’ institutional equity strategist Tavis McCourt, “equity and bond markets assumed near recession in early April, followed by overheating risk by mid-May.”. “Until the 90-day tariff reprieves expire and the One, Big Beautiful Bill becomes law, uncertainty is probably going to persist at least until July or August. “,”.

— Sarah Min.

The largest movements in stocks occur after hours.

These are the stocks that have moved the most during prolonged trading.

Okta — Due to macroeconomic uncertainty, the identity management software company’s shares fell more than 11% after it maintained its guidance. On the other hand, Okta’s top and bottom lines exceeded fiscal first-quarter estimations.

Box — According to FactSet consensus estimates, the cloud storage company’s shares increased by roughly 10% after it reported fiscal first quarter earnings and revenue that exceeded forecasts and provided better-than-expected second-quarter and full-year guidance.

Following Vail Resorts’ announcement that Rob Katz had returned to his position as CEO, the company’s stock surged more than 9%. Vail Resorts’ executive chairperson at the moment, Katz, was the company’s CEO from 2006 to 2021. He takes over for Kirsten Lynch, who has resigned as both the board’s director and CEO.

Sarah Min.

Tuesday night’s opening of stock futures saw minimal movement.

Tuesday night, stock futures opened with minimal movement.

Futures on the Dow increased 49 points, or 0.1 percent. Nasdaq 100 futures and S&P 500 futures both increased by 0.03% and 0.07%, respectively.

Sarah Min.