Stock market today: Nasdaq, S&P 500 rise while Dow holds steady as Wall Street awaits Nvidia earnings

Market Overview - Stocks experienced a mostly positive movement on Wednesday, with the Nasdaq Composite rising by 0.8% and the S&P 500 increasing by 0.5%, while the Dow Jones Industrial Average remained flat [1] - This market activity followed a period of significant losses for stocks, indicating a potential recovery phase [1] Nvidia Earnings Impact - Investors are anticipating Nvidia's third-quarter earnings, expected to influence the stock's movement by up to 7% in either direction [2] - The results from Nvidia are viewed as a critical factor for the ongoing S&P 500 rally, which has been driven by optimism surrounding AI-related growth [2] Big Tech Spending Concerns - There are growing concerns regarding the substantial spending by major tech companies on AI development, contributing to recent declines in stock prices [3] - High-profile investors are reportedly offloading their holdings amid worries that companies like Amazon are increasing their borrowing to support AI initiatives, coinciding with the Federal Reserve's stance on interest rate cuts [3] Federal Reserve Insights - The upcoming release of the Federal Reserve minutes is expected to provide insights into economic conditions and future monetary policy [4] - There is a division within the Fed regarding rate cuts, and traders are currently split on the likelihood of another easing in December [4] Consumer Spending Indicators - Earnings reports from major retailers are anticipated to shed light on the state of US consumer spending as the holiday season approaches [5] - Target has lowered its earnings outlook and indicated a weak holiday season, while Lowe's reported positive sales figures [5]