Stocks Rise Ahead of Nvidia Earnings; Palo Alto and Walgreens See Losses on Forecast Cuts and Dow Shakeup
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US stocks rallied late Wednesday ahead of Nvidia earnings; S&P 500 flipped positive while Nasdaq lagged.
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Nvidia shares extended losses ahead of earnings, seen as barometer for AI trade and potential turning point for stocks.
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Palo Alto Networks shares plunged 28% after cybersecurity provider cut annual revenue forecast on potential tech spending pullback.
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Walgreens dropped from Dow Jones Industrial Average, to be replaced by Amazon in change effective Feb. 26th.
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Fed minutes showed officials cautious on cutting rates too soon, wary of "moving too quickly" to ease policy stance.