By Caitlin McCabe and Hannah Erin Lang
Stocks are shaking off a four-day slump. Major indexes marched higher Wednesday, with the tech-heavy Nasdaq Composite leading gains.
AI stocks like Super Micro Computer and Vistra regained lost ground in midday trading, ahead of a pivotal earnings report from Nvidia due after the close. Investors had weighed a slew of economic data and headlines out of Washington in recent trading sessions, leading some to reconsider richly-priced tech stocks and other riskier assets.
Nvidia's financial results have become a major market event, with the chipmaker's stock moving 6% or more the day after reporting in three of the last four quarters. Given Nvidia's size, many investors expect Wednesday's report could make or break the recent stock-market swoon.
Investors expect to see big growth in Nvidia's revenue and earnings, but will also look for any commentary about competition and politics. Nvidia's chips have been embroiled in the U.S.-China standoff, while its stock has been rattled by the emergence of Chinese AI startup DeepSeek.
In recent trading:
Major U.S. stock indexes advanced, with the Nasdaq Composite rising more than 1.3%.
The 10-year Treasury yield held below 4.3%, having slid Tuesday to settle at 4.297%.
Bitcoin prices hovered below $88,000. On Tuesday, the cryptocurrency suffered its biggest one-day percentage drop in nearly seven months.
Super Micro Computer shares jumped close to 20% after the server maker filed overdue financial statements. The stock is on pace for its best month since May 2023.
Overseas, the Stoxx Europe 600 rose, bolstered by solid earnings from companies including Budweiser maker Anheuser-Busch InBev.
Chinese stocks also had a strong session, with Hong Kong's Hang Seng rising more than 3% and the Shanghai Composite up 1%.
Coming up:
Salesforce is due to post earnings Wednesday afternoon, along with Nvidia, Paramount Global and Snowflake.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
February 26, 2025 12:07 ET (17:07 GMT)
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