Wall Street stocks edged higher on Wednesday, bouncing back after the prior session’s losses amid bullish investment sentiment in spite of the US government shutdown.
Amidst delays over key economic reports, investors are likely to lean heavily on remarks from Federal Reserve officials for fresh clues on the interest rate trajectory.
Minutes from the Fed’s September meeting are also due at 2 PM ET.
At 11:18 AM EDT, the S&P 500 rose 0.4%, the Dow Jones Industrial Average was up 0.2%, and the Nasdaq Composite was 0.7% higher.
At 09:59 AM ET, the Dow Jones Industrial Average fell 83.84 points, or 0.18%, to 46,520.96, the S&P 500 gained 12 points, or 0.18%, to 6,726.49 and the Nasdaq Composite rose 118.50 points, or 0.52%, to 22,906.87.
As of 9:35 AM Eastern Time, the S&P 500 rose 0.1%, the Dow Jones Industrial Average was down less than 0.1%, and the Nasdaq Composite was 0.3% higher.
In the bond market, the yield on the 10-year Treasury eased to 4.11% from 4.14% late on Tuesday.
Gainers and Losers
Stocks of Nvidia and Micron Technology gained 1.6% and 4.5%, respectively.
Dell climbed 9% after multiple brokerages raised their price target on the stock.
Shares of Goldman Sachs and JPMorgan fell 1.6% and 1.2%, respectively.
Fair Isaac Corp stock fell 2.5% after credit bureau Equifax said it plans to offer cheaper mortgage credit scores.
Freeport-McMoRan surged 5.2% after Citigroup upgraded the mining company’s rating to “buy” from “neutral”.
AST SpaceMobile jumped 8.2% after Verizon Communications signed a deal to use its space-based network to offer cellular service in 2026. Verizon slipped 0.5%.
Bullion Market
Gold prices surged past the $4,000 an ounce mark for the first time on Wednesday, amid broader geopolitical and economic uncertainty.
Spot gold was up 1.5% at $4,041.71 per ounce by 10:09 AM ET (1409 GMT). US gold futures for December delivery gained 1.5% to $4,063.70.
Silver also gained 2.3% to $48.92 per ounce.
Platinum rose 3.1% to $1,668.28, while palladium climbed 6.5% to $1,425.05.
