CNBC Daily Open: Wariness over rate cuts lingers
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here .
Stocks mixed bag
Wall Street ended Wednesday mixed as investors digested the U.S. Federal Reserve's minutes from the January meeting. The benchmark S&P 500 gained 0.13%, while the Dow Jones Industrial Average rose 0.13%. But the tech-heavy Nasdaq Composite slid for a third session in a row, closing down 0.32%.
Nvidia shares soar
Shares of Nvidia surged more than 8% in extended trading after the company posted earnings that topped estimates and issued upbeat guidance. The chip giant's revenue grew a record 265% from a year ago, on robust sales for AI chips for servers.
Fed's caution
Minutes from the Federal Reserve's last meeting showed central bank officials expressed caution about lowering interest rates too quickly. Members also emphasized the importance of "carefully assessing" incoming data in judging whether inflation is moving down sustainably to 2%.
Yakuza leader charged
Federal prosecutors in New York charged a Japanese Yakuza leader withnuclear materials trafficking. The accused gangster, Takeshi Ebisawa, "and his confederates showed samples of nuclear materials in Thailand" to an undercover agent from the U.S. Drug Enforcement Administration.
[PRO] Where will yields go?
Given the uncertain path of U.S. interest rates, the question of how it will affect yields and the stock market has been investors' top focus. Morgan Stanley Investment Management's Jim Caron weighed in on the issue and noted the 10-year Treasury yield is likely to hover between 5% and 5.5%.
The January minutes made it pretty