Linea Mercati Interview 5/27/25
May 28, 2025
US stocks retreat as Treasury bond yields climb
May 29, 2025May 28, 20252:58 PM EDTUpdated a min ago
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Market Rundown: Wall Street braces for Nvidia results
- Summary
- Companies
- Nvidia, Salesforce results due after the bell
- Dick’s Sporting Goods up after first-quarter results beat
- Indexes: Dow down 0.3%, S&P 500 down 0.1%, Nasdaq up 0.1%
NEW YORK, May 28 (Reuters) – U.S. stock indexes were narrowly mixed on Wednesday afternoon as investors digested minutes from the last Federal Reserve meeting and awaited results from AI bellwether Nvidia.
Shares of Nvidia (NVDA.O), opens new tab were up 0.9% ahead of its report, due after the closing bell. Analysts expect the chipmaker to report a jump in first-quarter revenue, according to LSEG data.
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The Nasdaq was slightly positive while the S&P 500 and Dow were down.
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“The market is spinning its wheels today,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
“The Fed minutes really didn’t reveal anything new,” he said. “They basically indicate the Fed is in a wait-and-see mode and staying the line, trying to get more clarifications on trade.”
U.S. President Donald Trump backed down over the weekend from his threat of 50% tariffs on imports from the European Union, driving stocks up sharply on Tuesday.
Besides Nvidia, Salesforce (CRM.N), opens new tab results are due after the closing bell. Its shares were last down 0.8%.
Item 1 of 2 A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 19, 2025. REUTERS/Jeenah Moon/File Photo
[1/2]A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., May 19, 2025. REUTERS/Jeenah Moon/File Photo Purchase Licensing Rights, opens new tab
With Nvidia results ahead, traders in the options markets were bracing for industry-wide volatility, with defensive options contracts drawing heavy attention for the VanEck Semiconductor ETF (SMH.O), opens new tab, the largest semiconductor ETF.
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The Dow Jones Industrial Average (.DJI), opens new tab fell 110.02 points, or 0.26%, to 42,233.63. The S&P 500 (.SPX), opens new tab lost 7.39 points, or 0.12%, to 5,914.15 and the Nasdaq Composite (.IXIC), opens new tab gained 10.40 points, or 0.05%, to 19,209.56.
According to the minutes of the Fed’s May 6-7 session, U.S. central bank officials acknowledged they could face “difficult tradeoffs” in coming months in the form of rising inflation alongside rising unemployment.
The S&P 500 is still down from its record closing high, reached on February 19. It fell as much as 18.9% below that level in the wake of Trump’s erratic tariff announcements that have whipsawed markets for much of his second term.
A poll of strategists and analysts conducted by Reuters showed that many market participants expected the benchmark index to finish the year near current levels.
