Stock Market Today: Nasdaq Rises As Powell Sees Improving Outlook; Tesla Surges (Live Coverage)

The Dow Jones Industrial Average finished flat after the Federal Reserve left interest rates unchanged Wednesday and Fed Chair Jerome Powell said the central bank was well-positioned to watch and wait after three rate cuts last year. Meanwhile, Tesla (TSLA) soared on the stock market today after an earnings beat.

The Dow edged slightly higher after the Federal Open Market Committee left its benchmark interest rate at 3.5%-3.75% and wrapped up its two-day meeting. The S&P 500 inched downward after touching 7,000 for the first time. The benchmark index logged its first record close of the year on Tuesday.

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The Nasdaq led other indexes at closing bell Wednesday, rising 0.2%. The small cap Russell 2000 fell 0.5%.

Volume on the New York Stock Exchange and on the Nasdaq was higher compared with the same time on Tuesday. Decliners outnumbered advancers by 3-to-2 on the NYSE and by nearly 2-to-1 on the Nasdaq.

The bond market, the yield on the benchmark 10-year Treasury note rose two basis points to 4.25%. West Texas Intermediate oil futures rose nearly 2% to trade near $63.50 a barrel.

Tesla surged more than 3% after fourth-quarter earnings. Earnings of 50 cents per share on $24.9 billion in sales exceeded estimates of 45 cents on $24.7 billion in sales.

In his afternoon press conference, Powell noted that most of the overshoot in inflation was in goods inflation, which likely represents a one-time increase. Powell said that the middle of this year may show tariff inflation topping out.

3:24 p.m. ET

Stock Market Today: Mag 7 Earnings Due

Magnificent Seven leaders Tesla (TSLA), Meta (META), and Microsoft (MSFT) are scheduled to post earnings updates late Wednesday.

Tesla attempted to break a three-day losing streak and rose toward its 50-day moving average. Meanwhile, after five days of gains, Meta paused just below its 200-day moving average – a level of resistance since October. Microsoft tested its downward-sloping 50-day moving average.

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3:10 p.m. ET

Powell: Fed Well-Positioned Amid Improving Growth Outlook

Addressing reporters on Wednesday, Fed Chair Powell said that the “economy showed a solid pace in 2025,” and that unemployment showed signs of stabilizing.

But he said inflation remained somewhat elevated in relation to the goal of getting it down to 2%. Goods inflation lingered with signs of disinflation in the services sector.

Powell noted that the Fed is well positioned to determine the timing and extent of the next rate change. Distortions of data from the shutdown are no longer material with labor data showing some signs of stabilizing.

Also, the outlook for economic activity has improved with positive implications for labor demand, Powell said.

2:37 p.m. ET

Fed Pauses On Rates; Powell Comments Up Next

Following three rate cuts in 2025, the Fed kept rates unchanged. Among the voting members, Stephen Miran and Christopher Waller differed, preferring a rate cut of 25 basis points.

Investors at 2:30 p.m. EST expect to hear Powell’s remarks on inflation and employment, and, potentially, his view on the Fed’s independence. Powell this month said a federal investigation into his congressional testimony about Fed building-renovation costs stemmed from President Trump’s aim for the Fed to lower interest rates.

1:53 p.m. ET

Stock Market Today: GE Vernova Delivers Earnings Beat

GE Vernova (GEV) reported fourth-quarter earnings per share of $13.39, well above estimates of $3.28. Also, sales of $10.96 billion blew past views of $10.21 billion. Shares rose more than 1% within a base that has a buy point of 731.

1:17 p.m. ET

Gold Gets Lift As U.S. Dollar Weakens On Trump Comments

In commodities, gold hit a record as the U.S. dollar continued its slump. President Donald Trump said that the currency was doing “great” and that he was happy to wait for it to “seek its own level,” Barron’s reported.

An ounce of the yellow metal went for $5,300 on Wednesday and hovered just below that level in afternoon trade. The U.S. dollar fell to four-year lows.

Elsewhere, CNBC reported that the Federal Reserve had not yet complied with the grand jury subpoena as part of a criminal investigation of Fed Chair Jerome Powell. It is not clear what the deadline is for the Fed to release documents required by the investigation. Powell will address a press conference at 2:30 p.m. ET Wednesday after the Fed announces its rate decision.

The CME FedWatch Tool left less than a 5% chance for a rate cut on Wednesday.

12:39 p.m. ET

Oil Prices Rise After Trump Warning; Starbucks Surges

On Wednesday, President Donald Trump said on Truth Social that a “massive armada” was headed toward Iran and asked that country to “make a deal” on its nuclear program. That pushed West Texas intermediate oil futures up to near four-month highs, as well as prices for Brent oil, the international benchmark.

Brent and West Texas intermediate futures eventually pared their gains, with WTI up around 0.4% after rising 1% to $63 a barrel.

Meanwhile, Starbucks shares were up more than 2% after earlier jumping 6%. The moves came after the coffee retailer posted first-quarter sales of $9.92 billion, beating Wall Street’s estimate of $9.67 billion. The company’s “Back to Starbucks” program was “ahead of schedule,” Chief Executive Brian Niccol said.

But adjusted earnings of 56 cents per share missed analysts’ expectations of 59 cents.

Starbucks stock cleared a buy point of 98.89 before trimming its beefier advance.

11:23 a.m. ET

Stock Market Today: Seagate Soars On Earnings Beat

Among data storage product makers, Seagate Technology (STX) reported earnings of $3.11 per share, beating estimates of $2.83 for its December quarter. Sales of $2.83 billion topped views of $2.74 billion. Shares had rallied into a 20% profit zone from a buy point of 308.93 and headed even higher Wednesday, surging more than 20%.

The stock was the best performer in the S&P 500 and the Nasdaq on Wednesday.

The worst loser in the S&P 500 was** Amphenol** (APH), which fell more than 11% despite an earnings beat for its fourth quarter. Earnings of 97 cents per share came in ahead of views by 4 cents, while sales of $6.4 billion beat views of $6.2 billion.

Shares had rallied to an all-time high on Tuesday and reversed lower to a buy point of 143.48, giving back a gain of 17% and triggering a round-trip sell rule.

10:23 a.m. ET

Nvidia’s H200 Wins China Approval

China has approved purchases of Nvidia’s (NVDA) H200 artificial intelligence chip, the Wall Street Journal reported Wednesday, citing people close to the matter. Nvidia stock rose more than 1%. Shares are in a 13-week consolidation with a buy point of 212.19.

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9:42 a.m. ET

Nasdaq 100 Winners, Losers: Intel, Starbucks

Among the Nasdaq 100 stocks, Intel (INTC) and Starbucks (SBUX) jumped more than 8% and nearly 5%, respectively, making them some of the best performers just after the market open.

Meanwhile, Roper Technologies (ROP) and PDD Holdings (PDD) declined between 1% and 2% each in morning trading.

8:56 a.m. ET

Dow Jones Movers: Amazon, Nvidia, Apple

Inside the blue chip index, Amazon (AMZN) and Nvidia (NVDA) climbed 0.7% and 1.7%, respectively, in early morning trading. Amazon stock is near a 248.94 cup-with-handle entry, while Nvidia shares are approaching an early buy trigger at 193.63.

On the downside, Apple (AAPL) and Merck (MRK) declined 0.5% and 0.8%, respectively, in premarket action.

8:10 a.m. ET

Stock Market Today: Tesla Earnings Due

Shares of electric-vehicle giant Tesla rose modestly in premarket trading Wednesday, looking to snap a three-day losing streak. They gave up their 50-day moving average Monday, a key level to watch.

Tesla fourth-quarter earnings are due out after the close Wednesday. Analyst consensus shows earnings falling 38% to 45 cents a share with revenue declining 4% to $24.78 billion, according to FactSet.

However, investors and analysts are expected to be much more interested in the contents of the earnings call, with Chief Executive Elon Musk anticipated to discuss robotaxi scaling, self-driving vehicles and technology along with the Optimus robot and more.

Other big earnings reports after the close include Lam Research (LRCX), Meta Platforms (META) and Microsoft (MSFT).

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Earnings Movers: ASML, Nextpower, Seagate

Key earnings movers Wednesday morning include ASML (ASML), AT&T (T), Corning (GLW) and GE Vernova (GEV), along with Nextpower (NXT), Seagate Technology (STX) and Texas Instruments (TXN).

ASML shares jumped more than 5% in premarket trading, as AT&T shares moved up nearly 3%. Corning stock tumbled nearly 3%, while GE Vernova also lost nearly 3%.

Nextpower surged nearly 12%, while Seagate leaped more than 10%. Finally, Texas Instruments raced more than 7% higher in premarket action.

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Stock Market Today: Fed Decision, Powell Comments

The Federal Reserve’s two-day policy meeting concludes Wednesday, with an interest rate decision set for 2 p.m. ET. Then, Fed Chair Powell will hold a press conference at 2:30 p.m. ET.

Wall Street anticipates just a 3% chance of a rate cut at the Fed meeting, lowering the stakes. Meanwhile, the real suspense centers around whether Fed Chairman Powell will announce plans to remain a Fed governor after his chairmanship ends in May.

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_Be sure to follow Scott Lehtonen on X _at @IBD_SLehtonen for more on growth stocks, the Dow Jone__s Industrial Average and the stock market today.

Please follow VRamakrishnan on X/Twitter for more news on the stock market today.

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