.png)
German (DE) 
English (US) 
Spanish (ES) 
French (FR) 
Hindi (IN) 
Italian (IT) 
Russian (RU) Unlock stock picks and a broker-level newsfeed that powers Wall Street. Upgrade Now
Updated Wed, Feb 26, 2025, 7:44 AM 1 min read
In This Article:
Tech stocks led the US indexes higher on Wednesday, eyeing a comeback as Wall Street braced for Nvidia's (NVDA) crucial earnings and assessed the prospects for President Trump's deep tax cuts.
The tech-heavy Nasdaq Composite (^IXIC) led the advance, up around 0.4%, on the heels of consecutive sharp losses for the index. The benchmark S&P 500 (^GSPC) rose about 0.3%, while the Dow Jones Industrial Average (^DJI) added roughly 0.1%.
Investors are looking to Nvidia's quarterly results due after the bell to potentially lift stocks more broadly, given the AI bellwether's history of bullish reactions to earnings. But Nvidia's stock has lagged the S&P 500 so far this year, and the chipmaker's prospects face headwinds from Trump's tariff threats and export controls. Its shares rose around 3% in early trading, after sliding 2.8% on Tuesday.
SNP - Free Realtime Quote USD
As of 10:15:29 AM EST. Market Open.
^GSPC ^DJI ^IXIC
In the meantime, investors eyed the narrow passage of Trump's tax and security measures in the House of Representatives, keeping the $4.5 trillion plan for deep tax cuts alive. Market concerns are growing about harm to the economy from Trump's policies, reflected in recent consumer confidence and other data.
In earnings before the bell, Lowe's (LOW) stock popped after the home improvement retailer posted an profit and revenue beat. General Motors's (GM) plan to up its dividend by 25% and begin a new $6 billion stock buyback helped lift its shares in early trade.
Elsewhere in corporates, Super Micro Computer (SMCI) stock surged after the data center server maker met a deadline to submit delayed regulatory filings and avoid a Nasdaq delisting.
LIVE 8 updates
Opening bell: Tech leads broader markets higher
Tech stocks led the broader markets higher on Wednesday as investors awaited Nvidia's (NVDA) crucial earnings report, due after the bell.
The tech-heavy Nasdaq Composite (^IXIC) rose around 0.4%, looking to make a comeback after two back-to-back losing sessions. The benchmark S&P 500 (^GSPC) added around 0.3%, while the Dow Jones Industrial Average (^DJI) inched up roughly 0.1%.
DJI - Free Realtime Quote USD
As of 10:15:29 AM EST. Market Open.
^DJI ^IXIC ^GSPC
10 assets more than 10% off their 52-week highs
Some of the recent sell-offs in formerly high-flying names have been quite pronounced, Yahoo Finance's Brian Sozzi writes.
Highly valued "Magnificent Seven" names, with the exception of Apple (AAPL) and Meta (META), are off their 52-week highs by 19.5% on average, according to data crunched by Yahoo Finance. Crypto names have also suffered recently, despite the perception that the Trump administration will be favorable to the industry.
Here are 10 assets that are more than 10% off their 52-week highs:
Nvidia's post-earnings reactions don't always align with the big picture
Investors are eagerly awaiting Nvidia's quarterly results to see if the AI giant's earnings point to continuing euphoria or market discomfort. However, as Yahoo Finance's Jared Blikre writes, the initial reaction to Nvidia's results may not indicate the full picture of AI trends to come.
Read more here or sign up for the Morning Brief newsletter here.
Lowe's reports Q4 earnings beat, same-store sales growth turns positive for the first time in two years
Trump's $4.5 trillion tax-cut plan in focus after House vote
Treasury yields are ticking higher as investors assess the chance of Trump's deep tax cuts actually becoming reality following a successful House vote.
The Republican-controlled chamber voted narrowly late Tuesday to send the president's tax-cut and border security plans to the Senate, keeping his pledges alive.
The 217-214 vote in favor came after hours of lobbying holdouts by House Speaker Mike Johnson and colleagues. But the measure is just a preliminary step toward delivering on the $4.5 trillion plan for tax cuts.
Yahoo Finance's Ben Werschkul reports on the challenges facing Trump:
House Republicans have taken the first step to keeping Donald Trump's push for "one big beautiful bill" alive this week with a budget resolution that will set the parameters of any deal.
But the challenge remains of making space for even a sliver of Trump's 17 different tax cut ideas.
Even the smallest estimates of Trump's varied tax promises put the tab at about $10 billion. The higher-side projections amount to much more: almost $18 trillion in new red ink over the coming decade.
Meanwhile, Johnson and his colleagues are putting aside space for, at most, $4.5 trillion for tax cuts as part of an overall bill that would be paired with about $1.5 trillion in spending cuts.
Super Micro stock skyrockets after filing deadline is met
Super Micro shares were setting up to stage a roaring comeback on Wednesday after a rough patch that saw the server maker delay making SEC filings and face accusations of improper accounting.
Yahoo Finance's Laura Bratton reports:
Read more here.
Good morning. Here's what's happening today.
Economic data: MBA Mortgage Applications (week ending Feb. 21); New home sales (January); Building permits (January final)
Earnings: Nvidia (NVDA), Anheuser-Busch InBev (BUD), Advance Auto Parts (AAP), C3.ai (AI), Clear Secure (YOU), Lowe's (LOW), Marathon Digital Holdings (MARA), NRG Energy (NRG), Salesforce (CRM), Snowflake (SNOW), Stellantis (STLA)
Here are some of the biggest stories you may have missed overnight and early this morning:
Wall Street braces for Nvidia earnings
Meta in talks to build $200 billion AI data center: Report
Nvidia's post-earnings stock move may not reflect the big picture
Trump's economic pick is under pressure over stance on the Fed
Super Micro rockets 25% after Nasdaq delisting deadline is met
Big bets on bond rally reflect worries about economic slowdown
DOE pulls application form for key student loan repayment plans
Copper soars in the US as Trump signals potential new tariffs
Copper futures (HG=F) prices leapt 4.5% on markets opening after President Donald Trump signed an executive order to investigate the impact of duties on all forms of Copper import.
Comments