The US markets ended higher on Wednesday as traders opted to buy stocks at relatively lower levels following the significant weakness seen over the past few sessions. However, gains remained capped as market participants braced for AI darling Nvidia’s quarterly earnings release. The Nvidia was scheduled to be released post trading session. Further, investors took a cautious approach after the minutes of the Federal Reserve's (Fed) latest monetary policy meeting revealed officials had mixed views about the outlook for interest rates. The minutes of the Fed's October 28-29 meeting said participants expressed strongly differing views about what policy decision would most likely be appropriate at the central bank's next meeting on December 9-10. While the Fed said most participants agreed that it would be appropriate to eventually lower rates, several indicated that they did not necessarily view another 25-basis point rate cut as likely to be appropriate at the December meeting.
On the sectoral front, significant strength has been seen in semiconductor stocks, with the Philadelphia Semiconductor Index climbing by 1.8 percent. Considerable strength was also visible among gold stocks, as reflected by the 1.2 percent gain posted by the NYSE Arca Gold Bugs Index.
Dow Jones Industrial Average inched up 47.03 points or 0.1 percent to 46,138.77, S&P 500 rose 24.84 points or 0.38 percent to 6,642.16 and Nasdaq surged 131.38 points or 0.59 percent at 22,564.23.
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