By Nvidia rose 1.5%, reversing earlier losses after the U.S. Department of Justice subpoenaed the chipmaker in an antitrust investigation. Nvidia had dropped more than 9% on Tuesday as semiconductor stocks pulled back.
At 15:32 GMT, the Dow Jones Industrial Average is trading 40991.49, up 54.56 or +0.13%. The S&P 500 Index is at 5526.28, down 2.65 or -0.05 and the Nasdaq-100 Index is trading 17120.87, down 15.43 or -0.09%.
Job Openings and Trade Deficit Data
Economic reports showed U.S. job openings for July at 7.7 million, below the 8.1 million expected by economists. This marked the lowest level since 2021, with declines in the health care and government sectors leading the drop. The slowdown in job openings adds to concerns over labor market softness, which could impact future Federal Reserve policy.
Meanwhile, the U.S. trade deficit widened to $78.8 billion, the largest in over two years, though slightly below forecasts. The deficit with China expanded significantly, jumping by $4.9 billion to $27.2 billion in July. While the overall deficit was smaller than expected, the increase in the China shortfall raised concerns about the global trade environment.
Energy Sector Pressured as Oil Prices Fall
U.S. crude oil prices fell below $70 per barrel, hitting a nine-month low. The nearly 1% decline follows a 4% drop on Tuesday, with the benchmark trading at $69.19 earlier in the session. The slide in oil prices comes amid uncertainty over demand growth and speculation that OPEC+ could delay upcoming production increases. Analysts noted that until OPEC+ clarifies its strategy, bearish sentiment could dominate the energy market.
