US stocks held steady Wednesday, maintaining their momentum after a sharp rebound brought major indexes within striking distance of record highs. Investors are eyeing corporate earnings, particularly from Nvidia, while digesting mixed global signals and recent retail sector updates.The S&P 500 rose 0.1% in early trading, continuing a steady climb driven by optimism that the worst of trade-related disruptions under President Donald Trump’s administration may be over. The Nasdaq composite gained 0.2%, buoyed by anticipation around Nvidia’s results, while the Dow Jones Industrial Average was little changed, AP reported.Retailers led some early gains. Abercrombie & Fitch jumped after its profit and revenue beat analyst estimates, and Macy’s climbed 3% despite reporting year-on-year declines in both revenue and profit. “Macy’s also maintained its sales forecast for the year while acknowledging that consumers have become increasingly cautious about spending due to President Donald Trump’s trade wars,” the report noted.GameStop shares rose 6% following its announcement of a $1.3 billion private offering, part of which will be used to buy bitcoin. That mirrored a similar move by Trump Media and Technology Group a day earlier, which said it raised $2.5 billion and planned to build up a bitcoin reserve.Investors are awaiting Nvidia’s Q1 earnings, due after the market closes. The California-based chipmaker, seen as a key player in the AI boom, is expected to post earnings of 73 cents per share on $43 billion in sales — up from 61 cents per share and $26 billion last year. Analysts are watching closely to see whether Nvidia can extend its streak of beating Wall Street expectations for an eighth consecutive quarter.Despite Nvidia’s strong positioning, 2025 has been volatile for chipmakers. Nvidia’s share price has largely stalled after doubling in 2023. A recent reversal of Biden-era limits on AI chip exports may offer a fresh tailwind.“The in-principle approval allows PayPal to continue offering cross-border payment services within a regulated framework, supporting Indian merchants with enhanced consistency, transparency, and security in their global transactions,” a company spokesperson said in an unrelated development, reflecting broader financial sector shifts.Later Wednesday, the Federal Reserve will release minutes from its recent policy meeting, where it opted to keep interest rates unchanged for a third straight time. Officials cited rising risks from unemployment and inflation, driven partly by the trade tariff environment.Meanwhile, Japan’s Nikkei 225 ended mostly flat following a weak auction of 40-year government bonds. The bid-to-cover ratio fell to its lowest level since July 2024, signaling tepid demand as the Bank of Japan scales back its bond purchases.In Asia, South Korea’s Kospi rose 1.3%, supported by strong tech stocks like Samsung Electronics and SK Hynix. Australia’s ASX 200 edged up 0.1%, while New Zealand’s NZX 50 slid 1.8% after the central bank cut interest rates by 0.25 percentage points to 3.25%.China’s markets were mixed, with the Shanghai Composite flat and Hong Kong’s Hang Seng falling 0.5%. India’s Sensex slipped 0.1%.European shares were subdued by midday, with Germany’s DAX down 0.4%, France’s CAC 40 off 0.2%, and the UK’s FTSE 100 flat.Oil prices moved higher after the expiration of US authorization for Chevron to export Venezuelan crude. “The Trump Administration has been trying to wind down US reliance on Venezuelan energy,” the report noted. US benchmark crude rose 62 cents to $61.51, while Brent added 58 cents to reach $64.15 per barrel.The dollar strengthened slightly to 144.45 yen, while the euro slipped to $1.1320.
