U.S. stocks pared gains Wednesday afternoon, following another round of strong bank earnings.
Nvidia, Intel and AMD rose, leading the Nasdaq up more than 1%. In the latest big AI-related deal, a group of investors led by BlackRock announced it would buy a large private data center operator for $40 billion, including debt.
Treasury Secretary Scott Bessent said the United States was close to reaching a trade deal with South Korea, while negotiations with Canada were back on track. He said President Trump’s good relationship with Chinese leader Xi Jinping should help prevent trade tensions between the United States and China from escalating.
Gold erased $4,200, which represents an increase of approximately 60% for the year.
Treasury Yields fell further, putting the 10-year yield at 4.01%.
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