Stocks Climb in Volatile Session After Fed Minutes: Markets Wrap
- Fed saw aggressive hikes providing flexibility later this year
- Nvidia sinks in late trading as supply-chain woes hit forecast
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Stocks climbed after minutes from the Federal Reserve’s latest policy meeting gave no signals that officials could turn more hawkish soon to fight inflation.
The S&P 500 rebounded from earlier losses, while the tech-heavy Nasdaq 100 outperformed. The dollar pared gains. Treasury two-year yields -- which are more sensitive to imminent policy moves -- edged higher, while the 10-year rate wavered. In late trading, Nvidia Corp., the largest US chipmaker by market value, slid after Chinese supply-chain woes and the war in Ukraine weighed on its sales forecast.