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crypto.news 2025-05-28 18:20:01

Dow Jones slips 100 points as Fed maintains target rate, Nvidia earnings in focus

Dow Jones slips 100 points as Fed maintains target rate, Nvidia earnings in focus

U.S. stocks declined while the markets focused on the upcoming Q1 earnings report by chip giant Nvidia. U.S. stocks declined as traders reacted to the latest Fed minutes and anticipated Nvidia earnings. On Wednesday, May 28, Dow Jones traded at 42,219 points, losing 124 points or 0.29%. At the same time, the S&P 500 traded at 5,907, down 0.14%, while the Nasdaq was at 19,201 points, gaining 0.01%. Markets reacted to the largely anticipated Fed decision to keep the rates where they were, or at 4-1/4 to 4-1/2 percent. Notably, the Federal Open Market Committee cited higher inflation and rising risk to employment and inflation due to tariffs. While employment remains steady, trade distortions affect economic output. The Committee also explained that inflationary pressures are likely to go up in the coming weeks and months. For this reason, the Fed has debated whether or not it should use a more flexible inflation targeting framework. At the same time, the Fed will continue to reduce its balance sheet. Traders expect strong results from Nvidia Nvidia’s first-quarter earnings report is coming out after the bell on Wednesday, and it is one of the most anticipated reports this year. The stock was among the most volatile performers this year, a Trump’s tariffs and bans on AI chip exports to China hurt its earnings. Still, the latest deals negotiated during Trump’s visit to the Middle East, as well as a pause on the AI chip proliferation rule, boosted the stock higher. This is good news for AI crypto tokens, which are fueled by Nvidia’s infrastructure. Currently, Wall Street anticipates stronger earnings than last year, with expected revenue at $43.3 billion and earnings per share of $0.88. This will likely primarily be driven by data center revenue, an expected $39.2 billion, at a 74% year-over-year increase. You might also like: AI crypto tokens at risk as Nvidia faces restrictions on China exports

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