Global Stocks Mixed On Fed Rate Cut Caution Ahead Of Nvidia Results

New York, (APP - UrduPoint / Pakistan Point News - 22nd Feb, 2024) Wall Street stocks were mixed Wednesday, reversing some earlier declines, as traders nervously awaited earnings from US tech darling Nvidia and digested Federal Reserve minutes that signaled slower interest rate cuts ahead.

The minutes of last month's Fed decision showed that officials had mixed views over the timing of cutting interest rates -- but most members were more concerned about moving too early.

"The minutes continue to indicate that the Fed is very cautious on cutting rate too soon," said Peter Cardillo from Spartan Capital.

The Dow Jones Industrial Average finished 0.1 percent higher, as did the broad-based S&P 500.

But the tech-rich Nasdaq Composite Index fell 0.3 percent, dragged down by Nvidia ahead of its earnings results for the fourth quarter.

Shortly after the closing bell, the tech firm reported earnings results that beat expectations.

The news pushed its share price more than seven percent higher in after-hours trading.