The decline in U.S. stocks has fueled the rebound of crude oil by more than 1%.
* Three major shares indicate a high, and the index increased by 0.2%;
* Medium-and long-term U.S. bond yields fell, with 10-year U.S. bonds reporting 4.24%.
* International gold prices are approaching the US$3450 mark.
U.S. stocks rose across the board on Wednesday, with the S&P 500 hitting a record high, and the market waited for Nvidia's results to be released. As of the close, the Dow rose 147.16 points, or 0.32%, to 45565.23 points, the Nasdaq rose 0.21% to 21590.14 points, and the S&P 500 rose 0.24% to 6481.40 points.
Nvidia’s performance meets expectations
According to data released in the aftermath, NVIDIA generated revenues of $46.6 billion in the second quarter, $300.4 billion in the same period last year, and the market was expected to be $460.58 billion. Net profit of $264.22 billion, $165.99 billion in the same period last year, and the market is expected to be $234.65 billion. Of which, data center revenues were $411.9 billion, and the market is expected to be $412.9 billion.
NVIDIA expects third-quarter revenue of $54 billion (± 2%), with market expectations of $53.14 billion.
Nvidia announced that it approved a $60 billion share repurchase plan. As of the close, Nvidia's share price fell slightly by 0.09%, and the company's share price plunged nearly 5% after hours, narrowing the decline to around 3% at press time.
Overview of the market
According to data released Wednesday by the Mortgage Bankers Association (MBA), mortgage applications fell 0.5% in the week ended Aug. 22 due to a decline in refinancing applications, but were partially offset by an increase in purchase applications.
Investors are also watching developments related to U.S. President Trump's attempt to fire Federal Reserve Governor Cook, a move that could face legal challenges. If Trump succeeds, he will nominate a candidate for the Fed's board of directors, who is expected to support Trump's policy preferences and challenge the central bank's independence.
Several media outlets quoted Cook's lawyer on Tuesday as reporting that Cook would file a lawsuit to prevent Trump from dismissing her.The Fed said it would respect any court ruling on Trump's power to dismiss Cook.
U.S. Treasury Secretary Bessent said the Fed needs to undergo internal review and use recent allegations against Fed Chairwoman Lisa Cook as evidence of confidence issues.
The yield of medium- and long-term U.S. bonds fell, the 10-year bonds fell by 1.8 basis points to 4.24 percent, and the 2-year bonds fell by 5.4 basis points to 3.62 percent.
New York Federal Reserve Bank President Williams said on the same day that interest rates may fall at some point, but policymakers need to see the upcoming economic data to decide whether it is appropriate to cut interest rates at the Federal Reserve's September meeting.
In terms of individual stocks, star technology stocks were mixed, with Microsoft up 0.9%, Apple up 0.5%, Google up 0.1%, Meta down 0.5%, and Tesla down 0.9%.
MongoDB skyrocketed 38% as the software maker sharply raised its full-year earnings forecast.
The Nasdaq China Golden Dragon Index fell more than 2%. JD.com fell more than 3%, and Alibaba, Pinduoduo, NetEase and Tencent Music fell more than 1%.
International oil prices rose, and U.S. commercial crude oil inventories fell by 2.4 million barrels in the week ended August 22. The WTI crude oil near-month contract closed at US$64.15 per barrel, an increase of 1.42%, and the Brent crude oil near-month contract closed at US$68.05 per barrel, an increase of 1.23%.
International gold prices continued to rebound, with COMEX gold futures for October delivery on the New York Mercantile Exchange rising 0.51% to $3,449.40 an ounce.