US close: Stocks rise ahead of Nvidia results, as Fed speculation builds
By Benjamin Chiou
Date: Wednesday 19 Nov 2025
(Sharecast News) - US stocks trimmed earlier gains to finish moderately higher on Wednesday, partially bouncing back after a four-day losing streak, as investors awaited some crucial quarterly figures from Nvidia.
The American chip giant, which released its results after the closing bell, is viewed as a figurehead in the AI industry troubled by eye-watering valuations that many analysts fear are overstretched. As a result, the stock has borne the brunt of recent selling pressure, having dropped over 12% since the start of the month by Tuesday's close.
However, shares rebounded slightly during the session, rising nearly 3%, with expectations sky-high that the firm could once again beat analysts' forecasts with its chip sales.
The Dow gained 0.1%, the S&P 500 rose 0.4% while the Nasdaq increased 0.6%. All three indices had dropped to their lowest in five weeks on Tuesday as risk appetite was scaled back.
Nvidia steals focus
"The US market looks like it's shaken off some of its blues [...] though concerns about technology valuations haven't gone away with the small downdraft we've just witnessed," said Danni Hewson, head of financial analysis at AJ Bell.
"Nvidia isn't exactly a canary in the coalmine, because it's the size of a pterodactyl and tends to report after the rest of the Magnificent Seven, but it provides a telling insight into the health of the AI trade, so we can expect its results to ripple across the rest of the technology sector, and beyond."
Nvidia actually jumped in after-hours trading after the firm's revenue figures blew past analysts' expectations. Revenues reached a record $57.0bn in the third quarter, up 62% over the year and comfortably ahead of the consensus estimate of $54.7bn. The company also raised its guidance for the fourth quarter, targeting revenues of $65bn, ahead of the $62.1bn currently pencilled in by the market.
"Nvidia bears the weight of the world, but like Atlas, it's standing firm under that towering mountain of expectations. Third-quarter results delivered the goods and then some," said Matt Britzman, senior equity analyst at Hargreaves Lansdown.
"There are certainly pockets of the AI space where valuations needed to take a breather, but Nvidia is not in that camp. In fact, while shares have performed well this year, the valuation has gotten more attractive as earnings growth has raced ahead."
Fed divided over rate decision
In other news, minutes from the October Federal Open Market Committee showed "strongly differing views" about the future path of monetary policy, following last month's decision to cut rates by 25 basis points to 3.75-4.0%. The report showed that "many" officials didn't think a rate cut in December would be appropriate.
One additional concern was the news from the Labor Department that it doesn't expect to publish its November jobs report until 16 December, later than initially planned, meaning that the Fed won't have a complete picture of the labour market at its next meeting on 9-10 December. October's jobs report, meanwhile, won't include the jobless rate and other labour force statistics, as the shutdown disrupted statisticians' abilities to gather data sufficiently.
The September jobs report, also delayed because of the shutdown, is unlikely to change expectations that the Fed will want to tread carefully and hold rates again when it meets next month.
Market movers
Alphabet rose strongly, hitting an all-time high, after the launch of its Gemini 3 AI platform, which analysts viewed as a big upgrade on previous software.
Target Corporation fell after posting a bigger-than-expected fall in quarterly sales, as US shoppers pulled back on discretionary spending. The big box chain saw total comparable sales fall 2.7% over the three months to 1 November.
In contrast, DIY chain Lowe's gained despite trimmed its full-year earnings forecast, as it posted a jump in quarterly sales.
Dow Jones - Risers
Intel Corp. (INTC) $35.11 2.27%
Cisco Systems Inc. (CSCO) $78.39 1.32%
JP Morgan Chase & Co. (JPM) $303.27 1.29%
Johnson & Johnson (JNJ) $202.51 1.26%
Goldman Sachs Group Inc. (GS) $785.35 1.25%
American Express Co. (AXP) $344.72 1.17%
Caterpillar Inc. (CAT) $553.11 1.14%
Visa Inc. (V) $324.12 0.92%
3M Co. (MMM) $166.62 0.48%
Apple Inc. (AAPL) $268.56 0.42%
Dow Jones - Fallers
Dow Chemical Co. (DOW) $21.32 -2.47%
Salesforce.Com Inc. (CRM) $227.88 -2.41%
Boeing Co. (BA) $185.70 -2.07%
Walt Disney Co. (DIS) $104.67 -1.51%
Unitedhealth Group Inc. (UNH) $309.09 -1.43%
Merck & Co. Inc. (MRK) $95.05 -1.43%
Microsoft Corp. (MSFT) $487.12 -1.35%
Chevron Corp. (CVX) $151.70 -1.25%
Walmart Inc. (WMT) $100.61 -0.77%
Verizon Communications Inc. (VZ) $41.19 -0.70%
S&P 500 - Risers
Applied Materials Inc. (AMAT) $235.13 4.45%
Broadcom Inc. (AVGO) $354.42 4.09%
Lowe's Companies Inc. (LOW) $228.41 4.03%
Idexx Laboratories Inc. (IDXX) $697.10 4.01%
KLA-Tencor Corp. (KLAC) $1,167.46 3.95%
Lam Research Corp. (LRCX) $148.80 3.88%
Albemarle Corp. (ALB) $125.68 3.53%
Intuitive Surgical Inc. (ISRG) $564.64 3.27%
Amphenol Corp. (APH) $136.66 3.19%
Freeport-McMoRan Inc (FCX) $41.25 3.13%
S&P 500 - Fallers
Eversource Energy (ES) $65.26 -12.45%
Archer-Daniels-Midland Co. (ADM) $58.19 -4.59%
Perrigo Company plc (PRGO) $12.81 -4.26%
Gallagher Arthur J (AJG) $248.62 -3.84%
Jacobs Solutions Inc. (J) $145.05 -3.79%
HF Sinclair Corporation (DINO) $54.13 -3.72%
Netflix Inc. (NFLX) $110.00 -3.58%
Dollar General Corp (DG) $99.65 -3.56%
Apache Corp. (APA) $24.05 -3.49%
Vertex Pharmaceuticals Inc. (VRTX) $421.03 -3.33%
Nasdaq 100 - Risers
Applied Materials Inc. (AMAT) $235.13 4.45%
Broadcom Inc. (AVGO) $354.42 4.09%
Idexx Laboratories Inc. (IDXX) $697.10 4.01%
KLA-Tencor Corp. (KLAC) $1,167.46 3.95%
Lam Research Corp. (LRCX) $148.80 3.88%
Asml Holdings N.V. (ASML) $1,039.33 3.51%
Intuitive Surgical Inc. (ISRG) $564.64 3.27%
Alphabet Inc. Class A (GOOGL) $292.81 3.00%
Nvidia Corp. (NVDA) $186.52 2.85%
Alphabet Inc. Class C (GOOG) $292.99 2.82%
Nasdaq 100 - Fallers
NetEase Inc. Ads (NTES) $133.42 -4.15%
Netflix Inc. (NFLX) $110.00 -3.58%
Vertex Pharmaceuticals Inc. (VRTX) $421.03 -3.33%
Charter Communications Inc. (CHTR) $194.22 -3.22%
Regeneron Pharmaceuticals Inc. (REGN) $702.75 -3.11%
Biomarin Pharmaceutical Inc. (BMRN) $52.56 -2.95%
Check Point Software Technologies Ltd. (CHKP) $185.64 -2.65%
Incyte Corp. (INCY) $101.32 -2.47%
Vodafone Group Plc ADS (VOD) $11.99 -2.12%
Qvc Group Inc Series A (QVCGA) $7.07 -2.08%
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