The Dow Jones Industrial Average fell 0.4% on Wednesday, while the S&P 500 lost 0.2%, in response to critical employment reports and minutes from the latest Federal Reserve meeting. Nvidia, which had plunged 6% on Tuesday, bounced back 1.8% in morning trading.
The tech-heavy Nasdaq composite moved down 0.1%. The 10-year Treasury yield ticked higher to 4.71%, while oil prices held at their highest levels since mid-October.
In labor-market data, ADP’s employment report showed a 122,000 increase in private payrolls in December, below estimates. However, the Labor Department’s weekly unemployment claims unexpectedly fell to 201,000.
The Federal Reserve is expected to release its minutes from the latest policy meeting at 2 p.m. ET, which may provide insight into interest rate decisions.
Meanwhile, Nvidia shares are trying to find support at a key level, a 50-day moving average. The company’s AI chip leader briefly touched record highs before reversing lower and plunging more than 6%.
Other notable stocks include Boston Scientific, Fortinet, Interactive Brokers, Intuitive Surgical, Netflix, and Tesla. American Express is building a flat base with a 307.82 buy point, while Microsoft is forming a cup with handle with a 456.16 buy point.
Investors should follow the latest market trends and news to make informed decisions about their portfolios.
Source: https://www.investors.com/market-trend/stock-market-today/dow-jones-sp500-nasdaq-jobs-report-fed-minutes-nvidia-stock-nvda