Wall Street Closes Higher; Nvidia and Amgen Lead Gains
The market advanced on Wednesday as investors focused on corporate earnings and grew less concerned about U.S. President Donald Trump’s tariff plans.
The three major Wall Street indexes posted moderate gains. Investors initially hesitated but ultimately favored buying, particularly in the real estate and technology sectors.
- The Dow Jones Industrial Average rose 0.71% to 44,873.28 points.
- The S&P 500 gained 0.39% to 6,061.48 points.
- The Nasdaq Composite, heavily weighted in technology, climbed 0.19% to 19,692.33 points.
Nvidia and Amgen Stand Out
Within the Dow Jones, Nvidia (+5.2%) led gains, followed by Amgen (+6.5%), which posted strong earnings results.
Outside the index, Super Micro Computer (+8%), which has struggled recently, surged after announcing that its AI data centers operate with high efficiency using Nvidia chips, boosting both stocks.
On the downside, Alphabet (-7%), Google’s parent company, fell after reporting cloud business revenue below expectations. Uber (-7.6%) also declined despite strong earnings, as its forward guidance disappointed investors.
Economic Data & Tariff Developments
U.S. private-sector hiring increased by 183,000 jobs in January, surpassing analysts’ expectations of 150,000, according to ADP. These figures, ahead of Friday’s key nonfarm payroll report, indicate that the U.S. economy remains strong. However, they also support the view that the Federal Reserve (Fed) may keep interest rates unchanged for several months.
On the trade front, Trump postponed 25% tariffs on Canada and Mexico for a month while reviewing border security progress. However, his administration imposed 10% tariffs on China, which retaliated with similar measures. Markets remain alert to further developments.
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