S&P 500 rose 0.2% on Wednesday as traders waited for Nvidia’s earnings report

The S&P 500 surged 0.2% on Wednesday as Wall Street waited for Nvidia Corporation’s earnings report, a key moment for this year’s stock ￰0￱ chipmaker, now the largest stock in the index with roughly 8% weight, barely moved during the session, but traders held their positions ￰1￱ Nasdaq Composite rose 0.1%, and the Dow Jones Industrial Average added 135 points, or 0.3%. The trading day was calm on the surface, but the pressure underneath was ￰2￱ didn’t want to change positions until they saw whether Nvidia’s numbers would support the recent gains in tech stocks or trigger a ￰3￱ earnings are seen as critical because Nvidia has become the face of the AI wave that’s driven much of the S&P 500’s gains this ￰4￱ a single stock now carrying that much weight, traders were waiting to ￰5￱ report is due after the market ￰6￱ surprise in those numbers will not just move ￰7￱ will hit the entire ￰8￱ trading session also reflected global ￰9￱ showed interest in euro options that profit if the currency ￰10￱ demand, seen Tuesday, came even as speculation built around a possible confidence vote that could force the French government to ￰11￱ assets stayed under pressure, but the euro held ￰12￱ disconnect isn’t new.

A similar situation played out last year, French stocks dropped, yields widened, but the euro barely ￰13￱ weakens as dollar gains after Fed drama returns On Wednesday, the euro fell to a three-week ￰14￱ in Europe said month-end flows pushed up the U. S. dollar, which led to the euro’s ￰15￱ Tuesday, the euro had gained 0.2% against the greenback, after news broke about political interference in the Federal ￰16￱ news pushed the dollar lower ￰17￱ drop in the dollar came after President Donald Trump confirmed plans to remove Lisa Cook, one of the Fed’s governors, from her position on the board. Cook, through her attorney, said she would file a lawsuit to stop Trump from firing ￰18￱ legal battle is just beginning, but it was enough to spark concerns about the central bank’s independence.

Safe-haven trades like gold responded ￰19￱ gold dropped 0.1% on Wednesday to $3,388.15 per ounce, while gold futures for December rose 0.2% to $3,438.30. The losses were muted due to ongoing demand for safer ￰20￱ dollar index climbed 0.2%, and Treasury yields edged up 0.4%, both of which usually weigh on gold ￰21￱ investors didn’t flee from gold ￰22￱ Tuesday, gold had reached a more than two-week high after Trump’s announcement about Cook. Meanwhile, Bitcoin has managed to stay up above $120,000 the entire ￰23￱ edge down as traders look to GDP and inflation numbers Investors are now watching for fresh ￰24￱ Thursday, GDP numbers are ￰25￱ Friday, the market gets the Personal Consumption Expenditures (PCE) price index, the Fed’s preferred measure of ￰26￱ reported that economists expect the PCE to rise 2.6% in July, the same as in ￰27￱ number could confirm or challenge expectations for a rate ￰28￱ now, traders are betting there’s more than an 87% chance of a 25-basis-point rate cut at the next Fed policy meeting, based on data from the CME FedWatch ￰29￱ PCE comes in hotter than expected, that probability could fall ￰30￱ it stays flat or drops, the rate cut bet gets ￰31￱ way, markets are preparing for ￰32￱ metals traded ￰33￱ silver slipped 0.3% to $38.47 per ￰34￱ fell 0.3% to $1,344.20, and palladium lost 0.6% to $1,087.10.

These followed the dollar’s rise and firming yields, which tend to pull non-yielding metals ￰35￱ just like gold, there was no sign of panic; only cautious ￰36￱ you're reading this, you’re already ￰37￱ there with our newsletter .