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US stock markets showed recovery on Wednesday, led by a rebound in semiconductor stocks. Investors are looking ahead to Nvidia's quarterly earnings report, which could provide direction for the technology sector. The recovery follows recent market volatility driven by concerns about inflation and interest rates.
US stock markets declined amid persistent inflation worries that drove bond yields to new highs. Technology stocks led the losses as investors reassessed AI-related risks. Home Depot reported mixed results, citing choppy demand for large remodeling projects due to housing affordability concerns.
NextEra Energy is planning to acquire Dominion Energy for 6.8 billion, which would create the largest US power company. The merger is driven by increasing electricity demand from AI data centers and clean energy transition. The deal would combine NextEra's renewable energy portfolio with Dominion's regulated utility assets across multiple states.
US stock markets surged to new record levels as major technology companies reported stronger-than-expected quarterly earnings, pushing the S&P 500 and Nasdaq composite to all-time highs.
The S&P 500 closed at 7,501.24 and the Dow jumped back above 50,000 for the first time since the Iran war began, after the U.S. and China agreed that the Strait of Hormuz must remain open. Global producer prices are accelerating far faster than expected.
The S&P 500 closed at 7,501 and the Nasdaq hit 26,635, both fresh records, while the Dow recaptured 50,000 for the first time since the Iran war began. But India's WPI inflation exploded to 8.3% and Japan's PPI surged 2.3% month-on-month, confirming a global producer-price crisis.
Top economist Mohamed El-Erian warns the global economy has just 4 to 8 weeks to avoid a recession, with the reopening of the Strait of Hormuz being the critical factor. US inflation rose to 3.8 percent in April, driven largely by surging energy costs.
Crude oil prices jumped over 5 percent as the fragile ceasefire between the US and Iran appeared close to unraveling. Iran launched drone and missile attacks on the UAE, while the US reopened the Strait of Hormuz to commercial traffic. Trump called the ceasefire on life support as markets brace for further disruption.
Economic growth remains steady worldwide, but rising inflation and volatile oil prices present challenges for financial markets. Analysts monitor central bank responses.
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