Wall Street today: US stocks drift ahead of Nvidia earnings, Federal Reserve minutes
US stock indices were drifting on Wednesday ahead of earnings from the Artificial Intelligence-chip developer Nvidia and the minutes from the Federal Reserve's last monetary policy meeting.
At 10:29 AM EDT, the Dow Jones Industrial Average fell 37.75 points, the S&P 500 lost 7.86 points, and the Nasdaq Composite dropped 29.80 points.
At the opening bell, the Dow Jones Industrial Average rose 18.0 points, or 0.04%, to 42361.63. The S&P 500 rose 4.0 points, or 0.07%, to 5925.54, while the Nasdaq Composite rose 33.5 points, or 0.17%, to 19232.619.
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Time of India
42 minutes ago
- Time of India
US Stock market today: Dow Jones up 0.22%, S&P 500 rises 0.36%, Nasdaq surges 0.68% as Nvidia powers tech rally, Dollar General soars 12%, and OECD cuts U.S. growth forecast amid trade war tensions
US Stock market today showed mixed moves as the Nasdaq Composite jumped, led by strong gains in tech stocks like Nvidia, while the Dow Jones wavered. The OECD cut its U.S. growth outlook, warning of trade policy risks. Investors are watching rising tariff impacts, weak factory data, and ongoing U.S.-China trade tensions. Retailer Dollar General soared after raising its forecast. Global bond yields dipped, and Constellation Energy rose on a nuclear deal with Meta. With uncertainty around global growth and U.S. spending plans, markets are bracing for a bumpy ride. Here's everything you need to know in today's full market recap. Tired of too many ads? Remove Ads Dow Jones Industrial Average (DIA): Up 0.22% at 424.63 Up 0.22% at 424.63 S&P 500 (SPY): Up 0.36% at 594.86 Up 0.36% at 594.86 Nasdaq 100 (QQQ): Up 0.68% at 526.74 Nvidia (NVDA): Shares rose approximately 3.2%, continuing a rally that has seen the stock surge over 45% since April. This growth is attributed to strong demand for its AI chips and positive analyst outlooks. Shares rose approximately 3.2%, continuing a rally that has seen the stock surge over 45% since April. This growth is attributed to strong demand for its AI chips and positive analyst outlooks. Dollar General (DG): The stock jumped around 12% after the company reported better-than-expected Q1 earnings and raised its full-year guidance. Tired of too many ads? Remove Ads Alphabet Inc. (GOOG): Shares declined by approximately 1.1%, possibly due to broader market rotations and profit-taking. Shares declined by approximately 1.1%, possibly due to broader market rotations and profit-taking. Costco Wholesale (COST): The stock fell about 1.2%, reflecting investor concerns over consumer spending trends amid economic uncertainties. Why did the Nasdaq outperform the Dow and S&P 500 today? How is the trade war still affecting global markets? What did the OECD say about the U.S. and global economy? Tired of too many ads? Remove Ads Why did Dollar General shares jump after its earnings outlook? What other market moves and economic data stood out today? Constellation Energy shares surged after the company struck a landmark deal to supply nuclear power to Meta Platforms, signaling long-term strength in clean energy partnerships. The WSJ Dollar Index gained ground after falling to its lowest level since July 2023 on Monday. U.S. Treasury prices rose, pushing yields down, as investors sought safe-haven assets amid economic uncertainty. A strong auction of 10-year Japanese government bonds also helped drag global bond yields lower. In Europe, stocks were mixed. New inflation data showed eurozone inflation dipped below 2% in May, suggesting that the European Central Bank may hold off on immediate rate hikes. In a more troubling sign, Ukraine defaulted on a sovereign bond payment, adding to geopolitical unease in global markets. What's next for the U.S. economy and financial markets? FAQs: The stock market today showed mixed signals, with the Dow Jones Industrial Average moving slightly up and down, while the Nasdaq Composite pulled ahead, gaining over 0.5%. Tech stocks led the charge, with Nvidia jumping more than 3%, helping push the S&P 500's technology sector to the top of the a strong start to June, overall momentum has been shaky since mid-May. Investors are navigating conflicting signals from the economy, international trade tensions, and global growth concerns. The Organization for Economic Cooperation and Development (OECD) added more uncertainty by cutting its outlook for U.S. economic growth, citing unresolved trade disputes and policy OECD revised its U.S. growth forecast for 2025 downward to 1.6% from 2.2%, citing the impact of ongoing trade tensions and tariffs. Global growth projections were also lowered, reflecting broader concerns over international trade Nasdaq Composite rose more than 0.5% on Tuesday, driven by gains in the tech sector. Nvidia's 3% surge was one of the main contributors, reflecting strong investor demand for semiconductor and AI-linked stocks. Overall, technology stocks led all 11 sectors in the S&P 500, making tech the day's top-performing the Dow and S&P 500 showed smaller moves, as gains in tech were offset by concerns in other sectors, particularly those vulnerable to trade tensions and weak manufacturing over U.S. trade policy continues to rattle investors. Although President Trump has paused some proposed tariffs, talks with China, Japan, and the EU appear to be stalled. Tensions remain high, with both the White House and Beijing accusing each other of violating terms of the most recent trade truce. While Trump's team says he may speak with President Xi Jinping this week, Chinese officials haven't confirmed any the meantime, data shows the trade war is leaving a mark. A private survey out of China indicated factory activity in May took a sharp downturn. In the U.S., factory orders fell 3.7% in April, a deeper drop than economists predicted, according to government figures. These numbers point to a slowdown in global industrial activity tied to rising tariffs and supply chain OECD, an international economic body, warned that global growth is slowing and blamed much of it on trade policy uncertainty. The report stated the U.S. economy is among the most at risk, given its central role in ongoing tariff group advised governments around the world to urgently negotiate trade agreements, arguing that without resolution, investment and growth could stall further in the second half of the year. The OECD's message added to investor concerns that major economies may underperform expectations if political gridlock General stock saw a sharp rise after the company raised its full-year guidance, saying that higher prices from tariffs are pushing more consumers toward discount stores. The retailer explained that it's seeing a clear shift in shopping behavior, with shoppers reacting to increased prices on everyday consumers look to cut costs, discount chains like Dollar General are becoming more appealing. The company's optimistic forecast offered a rare bright spot in an otherwise uncertain retail are closely watching whether President Trump's massive tax-and-spending bill, which narrowly passed the House, will survive the Senate. Any delays could add to fiscal on the radar is whether a Trump-Xi call materializes this week, which could offer hope for renewed trade negotiations. Until then, traders are likely to remain cautious, balancing solid corporate earnings from sectors like tech and discount retail against slowing economic data and geopolitical stock market today reflected a tug of war between strong tech performance and growing economic and policy concerns. With the OECD lowering its U.S. growth forecast, investors are bracing for more volatility unless there's progress on trade talks and clearer economic signals in the coming stocks like Nvidia surged, boosting Nasdaq higher than Dow and S&P OECD cut its U.S. growth outlook, citing trade policy and global slowdown.
Hans India
an hour ago
- Hans India
India tops ChatGPT usage globally, signaling major AI-driven job shifts ahead
India has officially surpassed the United States to become the largest user base of ChatGPT, signaling a dramatic shift in how the country is adopting artificial intelligence (AI) in everyday life and work. A recent report by venture capital firm BOND highlights how AI is rapidly reshaping workflows, redefining job roles, and transforming the future of work across sectors. During a recent tech event in Bengaluru, attendees were welcomed by a robot—not a human—demonstrating just how seamlessly AI is being integrated into real-world environments in India. From fluent English-speaking bots to AI-powered workflows in offices, the landscape is evolving quickly. According to the Trends – Artificial Intelligence report, Indians are adapting to AI tools faster than anyone else. ChatGPT adoption in India has now overtaken the U.S., and the country also ranks high in usage of other AI tools like DeepSeek, following only China and Russia—where ChatGPT access is restricted. This rapid uptake is more than a trend—it's a signal of readiness for AI-led work models. The report further notes a 448% increase in AI-related job postings in the U.S. since 2018, while traditional tech roles saw a 9% decline. This suggests a growing demand for AI proficiency across industries. Enterprises are already seeing major benefits. Bank of America's virtual assistant 'Erica' has handled over two billion customer queries, while JP Morgan is leveraging AI across functions—from fraud detection to creative brainstorming—with up to 65% gains in productivity. Yum! Brands, owners of KFC and Pizza Hut, have implemented 'Byte by Yum!' to streamline operations from inventory to staffing. Healthcare is also undergoing an AI transformation. At Kaiser Permanente, doctors now use ambient AI scribes to document consultations in real-time, enabling more direct patient care. As per NVIDIA CEO Jensen Huang, 'AI is now part of infrastructure,' equating AI data centers to the factories of the modern age. India's enthusiasm for AI adoption positions it as a global leader in this transformation. But as AI tools become smarter and more ubiquitous, organizations and individuals alike will need to adapt quickly—either evolve, collaborate with AI, or risk being left behind.
Economic Times
an hour ago
- Economic Times
US job openings rose unexpectedly in April, a sign the American labor market remains resilient
U.S. job openings unexpectedly increased in April to 7.4 million, defying expectations of a decline, signaling continued labor market resilience despite economic uncertainties. However, the number of Americans quitting their jobs decreased, while layoffs slightly increased. The economic outlook remains uncertain due to potential impacts from trade policies. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads U.S. job openings rose unexpectedly in April, showing that the labor market remains resilient in the face of uncertainty arising from President Donald Trump's trade Labor Department reported Tuesday that employers posted 7.4 million job vacancies in April, up from 7.2 million in March. Economists had expected opening to drift down to 7.1 the number of Americans quitting their job - a sign of confidence in their prospects - fell, and layoffs ticked remain high by historical standards but have dropped sharply since peaking at 12.1 million in March 2022, when the economy was still roaring back COVID-19 American job market has remained strong in the face of high interest rates engineered by the Federal Reserve in 2022 and 2023 to fight a resurgence of economic outlook is uncertain, largely because of Trump's economic policies - huge taxes on imports, purges of federal workers and the deportation of immigrants working in the United States Labor Department is expected to report Friday that employers added 130,000 jobs last month, down from 177,000 in March. The unemployment rate is expected to stay at a low 4.2%, according to a survey of forecasters by the data firm FactSet.
