The S&P 500 moved higher on Wednesday, thanks in part to a decline in oil prices, as traders looked ahead to the release of Nvidia’s first-quarter earnings report.
The Dow Jones Industrials dipped 70.64 points, to open at 49,293.24.
The much broader index squeezed higher 13.46 points to 7,367.07.
The NASDAQ rebounded 110.39 points to 25,987.48.
West Texas Intermediate futures shed 2% to trade around $102 per barrel. Brent crude pulled back 2% to around $108 a barrel.
Investors are turning their attention toward Nvidia, which reports its first-quarter earnings after the close. The report will be an important view into the artificial intelligence trade and provide the latest update on demand for chips. Shares of the company were last 1% higher.
Prices for the 10-year Treasury eked upward, lowering yields to 4.66% from Tuesday’s 4.67%. Treasury prices and yields move in opposite directions.
Oil prices slid $1.76 to $102.39 U.S. a barrel.
Gold prices slid $25.40 to $4,487.40 U.S. an ounce.
