Advertisment
The S&P 500 moved higher on Wednesday, supported by gains in key technology names, as traders weighed the release of the minutes from
the Federal Reserve’s most recent policy meeting.
The Dow Jones Industrial Average stayed above water 129.47 points to 49,662.66.
The much-broader index took on 38.09 points to 6,881.31.
The NASDAQ gained 175.25 points to 22,753.64.
Nvidia shares advanced 1.6% on the heels of Meta Platforms announcing Tuesday that it’s going to use millions of Nvidia’s chips in its data center buildout.
Similarly, fellow “Magnificent Seven” member Amazon moved higher by nearly 2% after regulatory filings showed Bill Ackman’s Pershing Square grew its stake in the e-commerce giant by 65% during the fourth quarter. That makes Amazon the fund’s third-largest holding. The move comes after the stock snapped a nine-day losing streak.
Micron Technology also saw gains after David Tepper’s Appaloosa Management increased its holdings in the chipmaker. The stock closed more than 5% higher.
Prices for the 10-year Treasury slid, bringing yields up to 4.07% from Tuesday’s 4.06%. Treasury prices and yields move in opposite directions.
Oil prices regained $2.34 Wednesday to $64.67 U.S. a barrel.
Gold prices gained $119.50 to $5,025.20 U.S. an ounce.
