Tech Rallies Ahead Of Nvidia Earnings, Bitcoin Jumps 7%: What's Moving Markets Wednesday?
Piero Cingari 8 months ago
EquitiesLarge CapBroad U.S. Equity ETFsEcon #sTop StoriesTechETFs
Risk appetite returned on Wednesday as investors piled into equities and digital assets ahead of Nvidia Corp.
Risk appetite returned on Wednesday as investors piled into equities and digital assets ahead of Nvidia Corp. (NASDAQ:NVDA)'s highly anticipated earnings report due after the close.
The Nasdaq 100 climbed 1.2% to 25,280 points, powered by gains in mega-cap tech and AI-linked names.
The S&P 500 rose 0.7% to 6,941.26, trading less than 1% below record highs. The Dow Jones Industrial Average added 0.6%, while small caps lagged, with the Russell 2000 up 0.2%.
Software stocks extended their rebound for a second straight session, making the group the top-performing industry. Salesforce Inc. (NYSE:CRM), down roughly 25% year to date, is also set to report earnings after the bell.
By 12:45 p.m. in New York, momentum remained firmly skewed toward growth stocks. Technology and Financials led gains, while Energy and Consumer Staples underperformed.
Among other earnings movers, CAVA Group, Inc. (NYSE:CAVA) jumped 25.05%, while Everus Construction Group, Inc. (NYSE:ECG) advanced 31.58%.
On the downside, GoDaddy Inc. (NYSE:GDDY) tumbled 17.05%, First Solar, Inc. (NASDAQ:FSLR) fell 12.24% and CoStar Group, Inc. (NASDAQ:CSGP) dropped 10.98%.
In commodities, gold gained 1.4% to trade above $5,200 per ounce. Silver surged 4% to $90, extending its recent outperformance.
Markets now await Nvidia Corp. (NASDAQ:NVDA)'s results for confirmation that AI-driven earnings momentum remains intact. The report is widely viewed as a key catalyst for broader technology sentiment heading into month-end.
Crypto Markets Mirror Risk-On Tone
- Bitcoin (CRYPTO: BTC) jumped over 7%, marking its best session in three weeks.
- Ethereum rallied 11%
- Cardano surged 14%.
The upward move followed strong earnings from Circle Internet Group, Inc. (NYSE:CRCL), which helped fuel renewed optimism in digital asset infrastructure plays. Shares of Circle Internet Group rallied 29%.
Wednesday's Performance In Major US Indices, ETFs
| Major Indices | Price | % Change |
|---|---|---|
| Nasdaq 100 | 25,279.95 | +1.2% |
| S&P 500 | 6,941.26 | +0.7% |
| Dow Jones | 49,446.76 | +0.6% |
| Russell 2000 | 2,657.81 | +0.2% |
According to Benzinga Pro:
- The Vanguard S&P 500 ETF (NYSE:VOO) rose 0.7% to $636.51.
- The SPDR Dow Jones Industrial Average (NYSE:DIA) rose 0.5% to $494.27.
- The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) rallied 1.2% to $615.07.
- The iShares Russell 2000 ETF (NYSE:IWM) traded 0.3% higher to $264.28.
- The Technology Select Sector SPDR Fund (NYSE:XLK) outperformed, up 1.8%; the Energy Select Sector SPDR Fund (NYSE:XLE) lagged, down 0.9%.