US Indices Trade Higher On A Day Of Mixed Stories. NVDA, AMD, MSTR Big Movers

Wall Street experienced a bit of a rally on Tuesday as major indexes, particularly driven by the tech sector, made significant gains with chipmaker Nvidia at the forefront. Nvidia's shares (NASDAQ:NVDA) rebounded to end the day 1.07% in the green after the company announced the upcoming pricing and shipment details for its innovative Blackwell B200 AI chip.

The upbeat sentiment around Nvidia also illuminated the competitive landscape among semiconductor companies. Rival firms AMD (-4.84%) and Intel (-1.55%) saw their shares move strongly the other way. This was a day of mixed stories.

The biggest winners on the day from the Nasdaq 100 were SNPS (+4.3%) & CDNS (+3.63%), leading the NDX. On the other end of the scale, you have AMD leading the NDX laggards, backed up by MRVL.

Looking across the indices, the Dow Jones Industrial Average (DJIA) stood out, outpacing its peers, supported by significant gains in shares of McDonald's, and tech giant Apple Inc. By the end of trading, the DJIA had climbed 320.33 points (0.83%), while the S&P 500 (INX) closed 29.09 points (0.56%) up, the NDX up 47.2 (0.26%) and IXIC in the green to the tune of 63.34 points (0.39%), respectively.

Markets remain patient, closely watching the Fed ahead of the conclusion of its policy meeting today but there are still stories to be told. The market's attention is fixated on any new announcements regarding interest rate policy, an area that has been a focal point for economic forecasts and stock valuations in recent times.

The cryptocurrency market's fluctuating fortunes also filtered through to related stocks. Coinbase Global, along with miners Riot Platforms and Marathon Digital Holdings, saw their shares slump in response to Bitcoin's drop over the past few days (down 15% over the past week). There does appear to be a head and shoulders pattern forming on the daily, but how much of BTCs fortunes are tied to technical analysis is debateable. Even with the recent pullback, BTCUSD is trading in the green 20% over the last month, so a healthy pullback and retest is normal, healthy even.

MicroStrategy's stock price (NASDAQ:MSTR) took a huge hit in the morning session, before rallying to the end the day still 5.67% in the red. The company's completion of a $603.75 million convertible debt offering aimed at funding further Bitcoin acquisitions did not go down too well in light of the BTC drop, and in after hours trading MSTR fell a further7.1% to end the day at 1,316.69. This stock is one that will swing heavily both ways, and sentiment surrounding digital assets will be key to that.

In a more positive development, aerospace company Spire Global (NYSE: SPIR) are another to have enjoyed a surge off the back of an Nvidia collaboration announcement. 30.3% was added on the day following the news of its collaboration with Nvidia for AI-assisted weather prediction technologies, highlighting the market's optimism surrounding innovative partnerships.

What a day of mixed stories. Now today is the moment we have all been waiting for, the Fed meeting. 2 p.m. Eastern time declaration, with 2.30pm press conference with chair Jerome Powell. With a strong expectation of a rate hold, we'll be watching for any signs of a change in tone.