US STOCKS-Nasdaq, S&P 500 edge up ahead of Nvidia earnings; Dow down ...Middle East

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US STOCKS-Nasdaq, S&P 500 edge up ahead of Nvidia earnings; Dow down
The S&P 500 and Nasdaq edged higher in volatile trading on Wednesday as technology stocks rose ahead of Nvidia's quarterly results, while the Dow eased. Indexes pared gains after minutes from the last Federal Reserve meeting showed policymakers cautioned that lower borrowing costs could undermine the fight against inflation. The Fed cut rates by a quarter of a percentage point at each of its meetings in September and October. Worries about a cooling labor market persisted ahead of Thursday's release of the September U.S. jobs report following the record-long U.S. government shutdown. The U.S. Bureau of Labor Statistics said it will not publish the October employment report, but will instead combine nonfarm payrolls for that month with November's report. "A lot has changed since the Fed last met, but it seems as though the biggest disagreement among Fed officials was the timing of the next move, not the magnitude or direction," said Brian Jacobsen, chief economist at Annex Wealth Management in Menomonee Falls, Wisconsin. Shares of Nvidia were up 1.7%, with its earnings seen as a test for the artificial intelligence-driven rally that has pushed the market to record highs this year.

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