Market Overview

Ahead of $NVIDIA (NVDA.US)$ 's highly anticipated earnings report, $Dow Jones Industrial Average (.DJI.US)$ narrowly secured its third consecutive gain, hitting a new high, while $S&P 500 Index (.SPX.US)$ and $Nasdaq Composite Index (.IXIC.US)$ rebounded. Nvidia climbed over 1%, bolstering the broader market. $Tesla (TSLA.US)$ , however, bucked the trend, falling nearly 2%. AI-related stock $Advanced Micro Devices (AMD.US)$ plunged nearly 9% at one point after being targeted by short-sellers. $PDD Holdings (PDD.US)$ dropped more than 4% the day after its earnings report, though the Chinese stock index rebounded, with $XPeng (XPEV.US)$ surging 14% over two days following an announcement of increased shareholding by the CEO. $JD.com (JD.US)$ also rose over 2%.

The $69 billion bond auction saw strong demand, with the yield on the two-year U.S. Treasury briefly dipping to near a one-week low. The dollar index fell to its lowest level in a year, while the pound rebounded to a nearly two-and-a-half-year high. Offshore RMB gained over 100 points during the session, recovering to 7.12.

In early Asia-Pacific trading on Wednesday, Bitcoin dropped over 6%, hovering around the $58,000 mark.

Crude oil halted its three-day rally, falling over 2%, with Brent crude slipping from a two-week high. Gold approached new highs. LME nickel rose more than 2%, and copper gained nearly 2%, both reaching over a one-month high.