The U.S. stock market is climbing. Nvidia will deliver its latest profit report after trading ends for the day, and a lot is riding on it.
The U.S. stock market is climbing on Wednesday, for now at least, ahead of a couple huge tests for Wall Street.
The S&P 500 rose 0.8% in morning trading, coming off a four-day losing streak, its longest in nearly three months. It’s been shaky recently, not just day to day but also hour to hour, because of worries that stock prices have broadly shot too high and that the Federal Reserve may not deliver as many revitalizing jolts through lower interest rates as expected.
The Dow Jones Industrial Average was up 100 points, or 0.2%, as of 10 a.m. Eastern time, and the Nasdaq composite was 1.3% higher.
Constellation Energy rallied 5.2% after the U.S. Department of Energy said it’s lending $1 billion to help restart Constellation’s nuclear power plant at Pennsylvania’s Three Mile Island. Lowe’s rose 3.5% after the home-improvement retailer reported a stronger profit for the summer than analysts expected.
They helped offset a 0.5% dip for Target, which reported a stronger profit but also weaker revenue for the latest quarter than analysts expected. The retailer hinted that challenges may continue through the critical holiday shopping season.
The market’s focus, though, remained squarely on Nvidia. Wall Street’s most influential stock climbed 3.2% to recover some of its loss for the month so far, which topped 10% on Tuesday.
