The Dow Jones Industrial Average and other major indexes flip-flopped Wednesday afternoon, following new developments in the U.S.-China trade war. Nvidia was also jerked around, while Advanced Micro Devices bolted higher on the stock market today.
The Dow ended the day slightly lower with a 17-point dip, after making big swings in the final hours of trading. The S&P 500 clung to a gain in the final hour after messy afternoon action and finished 0.4% higher. The Nasdaq composite was also choppy, leading the afternoon rally with a 0.7% increase. The S&P 500 and Nasdaq both reclaimed their 21-day exponential moving averages after back-and-forth action.
Meanwhile, the Russell 2000 index of small-cap stocks rebounded with a 1% rise after hitting a new high on the stock market today.
On both the Nasdaq exchange and New York Stock Exchange, rising stocks edged out falling issues by roughly 3-to-2. Volume was nearly 17% higher on the Nasdaq exchange and modestly lower on the NYSE compared with Tuesday, in preliminary numbers.
Among exchange traded funds, the Invesco QQQ Trust rose 0.7%. The SPDR S&P 500 ETF reversed higher, adding 0.4%.
Elsewhere, the 10-year Treasury yield bumped up to 4.03%. Oil prices fell near $58.60 a barrel. Bitcoin retreated to around the $111,400 level.
Bessent: Price Floors To Come
Stocks had come off their highs during the session as Treasury Secretary Scott Bessent said in a CNBC interview Wednesday that to combat what he called China's "market manipulation" moves, the Trump administration will set price floors across a range of industries in order to protect domestic businesses.
Trade-war tensions flared up last week after China said it would impose new restrictions on exports of rare-earth materials, crucial for producing semiconductors and other technologies.
Stock Market Today: Advanced Micro Pops
Advanced Micro Devices rallied 9.4% after HSBC raised its price target to 310 from 185 and held its buy rating on the chip stock. Financial services firm HSBC, sees potential in AMD's artificial-intelligence chip market which could lead to additional revenue.
Wedbush also hiked its price target to 270 from 190 and held its outperform rating on the stock.
Nvidia stock gave back earlier gains and ended the day with a 0.1% loss. The Dow name wavered around its 50-day line and closed just above it on the stock market today.
Stocks Whipsaw; Google, Tesla, Nvidia In Focus
3:24 p.m. ET
Solar Name Shines
First Solar punched nearly 9% higher after BofA Securities raised its price target to 254 from 209 and maintained its buy rating on the stock. The solar panel stock topped the 25% profit zone from a cup-with-handle buy point of 189.50, according to MarketSurge chart analysis.
Axon Enterprise plummeted more than 9% in heavy volume on the stock market today. Shares of the Taser maker fell further below their 50-day moving average and undercut their 200-day moving average.
The stock had already flashed a sell signal on Sept. 24, after its initial plunge below its 50-day line. Axon's relative strength line has been on a downtrend since early August. The stock was the biggest loser on the S&P 500 Wednesday.
1:58 p.m. ET
Soybean Oil Names Sizzles
Some agriculture stocks rallied including Bunge Global, following Wednesday's Truth Social post by President Donald Trump that threatened to ban exports from China of used cooking oil. The liquid is used to produce renewable fuels.
The stock spiked nearly 11% in heavy trading and broke out of a cup-with-handle base with an 85.42 buy point Wednesday. The stock is now extended from the buy zone reaching to 89.69.
Archer Daniels Midland also bolted higher, but trimmed larger morning gains to 1.4% Wednesday afternoon. The stock tapped the 64.38 buy point of an early-stage flat base but quickly faded below the entry. Both companies make soybean oil.
Nvidia gave back an earlier gain and fell around 1%. An artificial intelligence consortium that includes Nvidia, BlackRock , and Microsoft earlier Wednesday said it reached a deal to purchase Aligned Data Centers, one of the world's largest operators of data centers, for $40 billion.
12:52 p.m. ET
Pizza Name Bolts Higher
Papa John's International stock gapped up nearly 8% in heavy volume and shares are on pace for three straight wins. The stock move started on Monday after rumors surfaced of a potential buyout by Apollo Global Management. The private equity asset manager offered $64 per share to take the pizza restaurant chain private, reports said.
Papa John's stock has soared more than 26% in heavy volume in the last three sessions. The stock is just above a prior buy zone from a cup-with-handle base buy point of 49.91.
Apollo reversed lower 0.2%. But the stock has been weak as seen in its dismal 16 IBD Relative Strength Rating.
Meanwhile, Prologis jumped 4% after the real estate investment trust topped third-quarter earnings estimates but missed on sales.
"We are extending our leadership position in logistics to data centers, where we are investing to meet the growing power demands of digital infrastructure," Dan Letter, president of Prologis, said in the earnings release. Investors may have focused on the data center comment and forgave its 24% drop in profit from the prior year's quarter.
10:52 a.m. ET
Economic News: Manufacturing Index Strong
And in economic news, the New York Fed's Empire State Manufacturing Index reading came in at 10.7 for October vs. the minus 0.9 expected and a minus 8.7 in September.
Stock Market Today: Nvidia Rebounds, Morgan Stanley Jumps
Dow stock Nvidia trimmed a larger morning gain to around 1.1% after sinking 4.4% and pulling back to its 50-day moving average on Tuesday. The stock remains under its 21-day line. Shares are nearing a prior flat base buy point of 184.48.
Morgan Stanley popped around 6.6% after the investment bank crushed third-quarter earnings and revenue estimates. Shares hit a record high on the stock market today.
Bank of America popped 5.3% after it also beat third-quarter profit and sales expectations. The stock is now extended from a buy zone out of a flat base with a 49.31 entry point.
PNC Financial Services sank more than 4% despite the super regional bank topping third-quarter profit and sales forecasts. Shares fell back below their 200-day moving average. PNC stock is on pace for four straight losing weeks and has dropped more than 5% so far this year.
9:51 a.m. ET
Nasdaq 100 Winners, Losers
Among the Nasdaq 100 stocks, Constellation Energy and KLA were among the best performers, climbing nearly 6% and more than 3%, respectively.
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On the downside, Roper Technologies and AstraZeneca each dropped more than 1%. AstraZeneca stock is holding in a 5% buy zone above an 82.41 entry.
8:54 a.m. ET
Dow Jones Movers: Apple, Caterpillar, Cisco, Goldman Sachs
Inside the blue chip index, Apple, Caterpillar, Cisco Systems and Goldman Sachs headed higher in premarket action.
Apple shares climbed 1%, looking to extend a winning streak to three sessions, while Caterpillar stock gained 1.3%, set to hit a new high.
Cisco shares moved up 1.3%, closing in on an early buy trigger at 70.81. Finally, Goldman stock rallied 1.6%, set to rebound from the 50-day moving average.
8:09 a.m. ET
Stock Market Today: Nvidia Stock Rebounds
Nvidia shares bounced more than 2% in premarket trading Wednesday, rebounding from Tuesday's 4.4% tumble.
Shares fell below their recent buy point at 184.48 and are back at their 50-day line, a key support level to watch.
Earnings Movers: ASML, Bank Of America
ASML missed on revenue, but earnings, orders and 2026 guidance were strong. Shares of the Dutch chip equipment maker rose 4.5% in premarket trade, further above an 826.56 buy point.
Bank of America earnings beat views on strong investment banking revenue. Shares jumped more than 5% in morning trading, rebounding from the 50-day moving average.
Other earnings movers include Abbott Laboratories, Morgan Stanley and Progressive.
Abbott shares tumbled 2.5% in premarket action, while Morgan Stanley stock rallied nearly 4%. Progressive stock rose more than 1% in early trading.
Stock Market Today: U.S.-China Tensions
The stock market opened lower Tuesday amid heightened U.S.-China tensions before recovering sharply off its lows.
But the major stock indexes weakened into the close as President Donald Trump said China not buying U.S. soybeans is an "Economically Hostile Act," adding that he is mulling retribution.
In between those negative U.S.-China headlines, Federal Reserve Chair Jerome Powell didn't push back on October rate-cut expectations, citing weak labor markets. He also suggested the central bank may soon stop reducing its bond holdings.
Breakout Stocks Watch: What Looms For October?
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