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U.S. stocks closed sharply higher on Wednesday as investors positioned themselves ahead of Nvidia’s highly anticipated quarterly earnings report. The S&P 500 rose 0.8% to 6,947.98, while the Nasdaq Composite gained 1.3% to 23,152.08. The Dow Jones Industrial Average added 0.6%, ending the session at 49,482.27. The rebound extended a recovery in the technology sector after Monday’s sharp sell-off, signaling renewed confidence in AI-driven growth stocks.
Market sentiment improved as fears surrounding artificial intelligence disruption across multiple industries began to ease. Investors welcomed fresh developments in the AI space, including Meta Platforms’ multi-year partnership with Advanced Micro Devices and new strategic collaborations announced by Anthropic. These updates helped stabilize software and data-related stocks that had recently faced pressure.
All eyes are now on Nvidia (NASDAQ: NVDA), whose earnings are expected to serve as a bellwether for the broader AI industry and global chip demand. The company has surpassed revenue expectations for 13 consecutive quarters. Analysts forecast a 62% jump in quarterly profit and a 68% surge in revenue, according to LSEG data. Nvidia shares climbed 1.4% ahead of the results, reflecting cautious optimism across Wall Street. Earnings from Salesforce and Snowflake are also scheduled after the closing bell.
Outside the tech sector, MercadoLibre shares dropped nearly 8% after reporting lower quarterly profits due to increased spending on credit and logistics expansion.
Meanwhile, investors continue monitoring U.S. tariff policy. President Donald Trump reaffirmed his support for temporary 10% global tariffs during his State of the Union address, despite a recent Supreme Court decision challenging prior trade measures.
In commodities markets, oil prices hovered near seven-month highs. Brent crude rose 0.3% to $70.76 per barrel, while West Texas Intermediate slipped 0.2% to $65.47, as traders focused on upcoming U.S.-Iran nuclear negotiations and heightened geopolitical tensions.
