Market Overview - Major stock indices closed lower for the fourth consecutive day, with the Dow Jones down 1.07% at 46,091, the S&P 500 down 0.83% at 6,617, and the NASDAQ down 1.21% at 22,432 [2] - The stock market is closely watching NVIDIA Corp. as it prepares to release highly anticipated quarterly results, with Wall Street expecting earnings per share of $1.25 and median revenue of $55 billion, representing a 54% year-over-year growth [2] Treasury Bonds - Treasury market saw buyers entering as yields decreased across the curve, with the 30-year bond closing at 4.74% and the 10-year note at 4.12% [3] - The likelihood of a Federal Reserve interest rate cut in December has fallen below 50%, creating uncertainty in the bond market [3] Oil and Gas - Major oil benchmarks increased, with Brent Crude closing at $64.81 (up 0.95%) and West Texas Intermediate at $60.65 (up 1.24%), influenced by Ukrainian drone strikes on Russian refineries [4] - Natural gas prices rose by 0.30% to $4.37, supported by forecasts of a cold winter and increasing electricity demand [4] Stock Market Sentiment - Despite the overall decline in major indices, gold, oil, and cryptocurrency prices saw increases as some investors began to "buy the dip" in battered sectors [5] - The focus remains on NVIDIA's earnings report, which could significantly impact market sentiment [5]
Here Are Wednesday’s Top Wall Street Analyst Research Calls: DoorDash, Freeport-McMoRan, GitLab, Home Depot, Medtronic, Molson-Coors, and More