View Live Stock Market TodayMajor Indexes Hold Steady in Midday Trading
U.S. stock markets are showing restraint in midday trading on Wednesday, May 28, 2025, as investors cautiously await two major catalysts: Nvidia’s highly anticipated earnings report and the release of Federal Reserve meeting minutes.
As of noon Eastern Time, the S&P 500 is hovering near 5,940, up just 0.1% after yesterday’s impressive 2.05% rally that pushed the index to 5,921.54.
Today’s cautious trading follows a strong rebound session on Tuesday that snapped a four-day losing streak for all three major indexes. The market’s recovery was largely fueled by President Donald Trump’s weekend announcement delaying planned 50% tariffs on European Union imports until July 9, easing immediate trade tensions.
All Eyes on Nvidia’s Earnings Report
The spotlight today is firmly on Nvidia (NVDA), with the AI chipmaking giant scheduled to release its fiscal first-quarter earnings after the closing bell. Analysts expect Nvidia to report earnings of 75 cents per share, representing a 23% year-over-year increase, on revenue of $43.2 billion – a 66.2% jump from the same period last year.
“Nvidia’s earnings announcement is pivotal not only for the chipmaker but also for the broader stock market,” notes James Demmert, chief investment officer of Main Street Research. A strong report “can rejuvenate investor optimism across the board and help investors to focus on the power of AI and less on headlines out of Washington on tariffs and taxes.”
Investors will be particularly focused on how U.S. technology restrictions on China are affecting Nvidia’s business. The company previously indicated it expects to book a $5.5 billion first-quarter charge on inventory and production commitments due to these restrictions.
Fed Minutes and Economic Data in Focus
Market participants are also awaiting the release of minutes from the Federal Reserve’s May meeting, expected later today. Investors hope to gain additional insight into how policymakers view the economy, with particular attention to their assessment of inflation trends and the potential impact of President Trump’s trade policies.
Recent economic data has shown some resilience, with U.S. consumer confidence rebounding in May as Americans reacted positively to Trump thawing trade tensions with China earlier in the month.
Notable Stock Movers
Several individual stocks are making significant moves today:
– Tesla (TSLA) shares are up nearly 7% to $362.89, continuing yesterday’s momentum when the stock popped about 7% after CEO Elon Musk announced he was shifting his focus away from politics and back to his companies.
– Macy’s (M) posted narrow first-quarter revenue and earnings beats but revised its 2025 outlook downward, citing tariff uncertainties. The stock is up over 4% to $12.04 in midday trading.
– Abercrombie & Fitch (ANF) shares have surged 5.44% to $77.15 as investors welcomed its quarterly earnings report.
– GameStop (GME) is up nearly 6% to $35.01, continuing its volatile trading pattern.
– Okta (OKTA) shares are up 1.44% to $125.50 despite plunging over 12% in after-hours trading yesterday following its earnings report.
Looking Ahead
As the trading day progresses, market participants remain cautiously optimistic but are clearly waiting for Nvidia’s earnings and the Fed minutes before making significant moves. The recent tariff delay has provided some relief, but uncertainty persists regarding future trade policies and their potential impact on corporate earnings and economic growth.
Rich Saperstein, chief investment officer of Treasury Partners, advises investors to “look past the tariff turmoil” and focus on the environment where “we’ll have deregulation, more onshoring… Greater opportunities for M&A. So, the environment post-tariffs will be a great environment for investing.”