Why are Nvidia, Amazon, Meta, Microsoft stocks, share prices are up today? What to expect at S&P 500, Nasdaq, Dow?

Market Overview - The S&P 500 ended 0.1% higher after experiencing a drop of 0.9% earlier in the session, with similar reversals seen in the Nasdaq and Dow [1] - Wall Street's main indexes have faced volatility this month due to concerns over disruptions caused by rapidly improving AI tools affecting various sectors, including software and trucking [1] AI and Technology Sector - Broader AI-linked and megacap technology stocks have declined as investors seek stronger evidence that significant investments in technology are leading to tangible revenue and profit increases [2] - Nvidia's stock rose 1.9% after announcing a multi-year deal to supply Meta Platforms with millions of AI chips, contributing to gains in other megacap stocks like Amazon (up 1.6%) and Microsoft (up 0.7%) [8] Federal Reserve Insights - The release of minutes from the Fed's January policy meeting, where the main lending rate was held steady, is anticipated [3] - Traders are pricing in a 63% chance of a rate cut of at least 25 basis points at the Fed's June meeting, marking the first time odds have exceeded 50% [3] Company-Specific Developments - Palo Alto Networks saw a 7.2% drop after lowering its annual profit forecast due to rising costs from acquisitions aimed at enhancing AI capabilities [6] - Cadence Design Systems experienced a 5.8% increase after surpassing fourth-quarter revenue estimates [6] - Western Digital plans to raise $3.17 billion through a secondary share sale of its stake in former unit Sandisk, resulting in a 2.4% decline in Sandisk's shares [7] Upcoming Economic Indicators - The personal consumption expenditure report, the Fed's preferred inflation gauge, will be released later in the week, expected to provide insights into inflation and its potential impact on borrowing costs [7] - Earnings season is underway, with companies like Analog Devices and Charles River Laboratories set to report results [8]