Wall Street Steadies as Nvidia Earnings Take Center Stage
US stocks attempted a cautious rebound on Wednesday, clawing back part of the week’s tech-driven decline as traders positioned for Nvidia’s third-quarter earnings, arguably the most important print of the season.
The Nasdaq gained 0.5%, the S&P 500 added 0.2%, and the Dow slipped 0.2% in a session that remained choppy from open to close.
With AI valuations under pressure and investors questioning whether hyperscale spending can continue at its current pace, Nvidia’s results — and guidance — are expected to send shockwaves across the market. Options pricing implies the stock could swing up to 7% after the report.
This comes just one day after Wall Street dissected Nvidia’s sprawling web of AI investments, including its multibillion-dollar deals with Microsoft and Anthropic — a trend we explored in detail in our latest WSA coverage.
Bitcoin Breaks Below $90,000 as Risk-Off Mood Deepens
Bitcoin resumed its downturn, sliding back under $90,000, hitting levels not seen since April. The move reflects a broad shift toward risk-off positioning, fueled by doubts around rate cuts and the absence of near-term crypto catalysts.
ETF outflows and lingering liquidation pressure continue to weigh on the asset class, with traders now watching whether the $88K–$90K range can hold.
Fed Minutes, Rate Cuts, and the Jobs Report
Investors are splitting their attention between Nvidia and the Federal Reserve, with minutes from the latest meeting set to drop later today.
While policymakers delivered a rate cut at that meeting, they did so against internal division, and markets are now evenly split on whether another reduction is coming in December.
The uncertainty stems in part from the six-week government shutdown, which delayed critical economic releases and left policymakers flying partially blind.
More clarity arrives Thursday with the release of the September jobs report, the first major data point since government agencies reopened. Economists expect roughly 50,000 job additions — a soft figure consistent with a cooling labor market.
Alphabet Surges on Gemini 3 Momentum
Alphabet shares climbed 3.5%, reclaiming record territory after Google rolled out its latest AI model, Gemini 3, to widespread industry praise.
The model’s performance impressed both bulls and skeptics, boosting confidence in Alphabet’s ability to monetize its massive AI spend. Shares briefly crossed $300 intraday, a new all-time high.
WSA Take
Markets are in a holding pattern — and Nvidia is the fulcrum. With AI valuations stretched and bitcoin flashing risk-off signals, today’s print could reinforce confidence in the AI cycle… or crack it.
Meanwhile, Alphabet’s Gemini 3 launch shows the competitive intensity accelerating just as Nvidia’s own investment strategy faces heightened scrutiny.
Read our latest breakdown on Nvidia’s circular investment blitz.
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Disclaimer:
Wall Street Access does not work with or receive compensation from any public companies mentioned. Content is for informational and educational purposes only and is not investment advice.
