S&P 500 Gains 0.3% as Oil Drops 2% and Nvidia Earnings Loom
Updated
Updated · CNBC · May 19
S&P 500 Gains 0.3% as Oil Drops 2% and Nvidia Earnings Loom
13 articles · Updated · CNBC · May 19
The S&P 500 rose 0.3% on Wednesday and the Nasdaq added 0.5%, while the Dow slipped 0.2%, as U.S. stocks steadied after three straight losing sessions.
Oil's pullback helped the rebound: West Texas Intermediate fell 2% to about $102 a barrel and Brent dropped 2% to around $108, easing one pressure point tied to the U.S.-Iran war.
Nvidia's first-quarter report due after the close became the market's main focus, with Goldman Sachs saying the chipmaker has driven about 20% of the S&P 500's gains this year.
Treasury yields also cooled slightly after Tuesday's surge, when the 30-year briefly topped 5.19% and the 10-year hit 4.687% on renewed inflation worries; investors were also awaiting April Fed minutes.
With war spiking oil prices, why do some experts forecast a dramatic price crash ahead?
Can the Fed's new leadership fight inflation without stifling the AI-driven economic boom?
As the U.S. and China vie for AI dominance, is the global chip supply chain nearing its breaking point?