Wall Street Edges Higher, Yields Fall

Tech stocks led a broad market rebound as investors awaited Nvidia’s earnings and guidance on inflation-driven Federal Reserve policy. The rally signaled renewed risk appetite with yields retreating and the AI-driven semiconductor cycle cited as a key driver of the advance. Nvidia remained the central focus, with other chipmakers like AMD, Micron, and Intel tracking gains ahead of Nvidia’s results, viewed as a crucial barometer for the AI investment boom. Traders also weighed macro signals, including consumer confidence, housing data, and the Jackson Hole symposium, for any hints on rate trajectory. While tech names rallied, some retailers and cyclicals showed weakness, underscoring a market with pockets of divergence. Ongoing geopolitical and energy developments, along with sanctions and oil price moves, continued to inject volatility as investors await Nvidia’s results and related earnings data.