Quick overview

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The key event of the day will be the release of quarterly results from NVIDIA, while sovereign bond markets show signs of easing after recent volatility.

Major U.S. stock indexes traded higher on Wednesday, led by technology shares, reversing the losses from the previous session. Investor attention is firmly focused on Nvidia’s earnings report, due after the close, from the world’s largest company by market capitalization.

In commodities, oil prices extended their decline but remained well above the $100 per barrel mark amid ongoing uncertainty over the Middle East conflict. Brent crude fell 6.2% to $105.30 per barrel, while U.S. WTI crude dropped 5.2% to $98.19 per barrel.

Global Market Impact

Reports from Axios and The Times of Israel suggested progress on a draft memorandum in which Iran would agree to transfer its highly enriched uranium stockpile to a third country, refrain from operating underground nuclear facilities, and accept enhanced inspections by the IAEA.

Meanwhile, the bond market — which had experienced sharp volatility in recent sessions — saw yields ease across major government debt benchmarks, including U.S. Treasuries, as well as bonds in Japan, the United Kingdom, and Germany.

In Europe, equities rallied broadly, with the Euro Stoxx index rising 1.97%. Germany’s DAX gained 1.28%, while France’s CAC 40 added 1.79%. Outside the eurozone, the UK’s FTSE 100 advanced 0.99%.

In Asia, sentiment was mixed. Hong Kong’s Hang Seng slipped 0.18% and Shanghai fell 0.32%, while South Korea’s Kospi dropped 2.70% and Japan’s Nikkei 225 closed 1.34% lower.

Wall Street Drivers

In this context, U.S. equities moved higher. The S&P 500 rose 0.91%, the Nasdaq Composite gained 1.35%, and the Dow Jones Industrial Average advanced 1.12%.

Top gainers included Enphase (+14%), Super Micro Computer (+10%), and United Airlines Holdings (+10%). On the downside, Hasbro (-8%), Analog Devices (-5%), and Target (-5%) led declines.

The defining event of the session remains Nvidia’s quarterly earnings release after the closing bell. The report is seen as a key test for the artificial intelligence investment narrative, particularly in light of recent strategic developments involving CEO Jensen Huang’s engagement with policymakers in Beijing and Washington, and their potential implications for Nvidia’s China exposure.