Stock Market Today: Stocks Struggle to Sustain Gains
Mixed messages from multiple sources continue to make for a messy market for investors, traders and speculators.



All three major U.S. equity indexes opened higher Wednesday on continuing hope for a relatively sustainable peace in the Middle East.
Technology could carry stocks only so far, though, amid a flow of murky economic data and mixed earnings commentary.
The Nasdaq Composite crossed above the 20,000 level early in the trading session, the S&P 500 remains within hailing distance of a new all-time high and the Dow Jones Industrial Average is straddling its own big, round number.
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
But Fed Chair Jerome Powell's second day of congressional testimony underscored the uncertainty of the domestic as well as the global environment.
"One of the reasons this is so challenging," Powell said about President Donald Trump's tariffs, "is that there isn’t a modern precedent and we have to be humble about our estimates. Transmission into inflation may be more than we think or less than we think, which is why we want to take our time."
By the closing bell, the Dow Jones Industrial Average was off 0.3% at 42,982 and the S&P 500 had shed a fraction of a point at 6,092, but the Nasdaq Composite held on for a 0.3% gain to 19,973.
Action in the energy patch
Crude oil got a bump from a catalyst other than potential pressure on the global supply chain stemming from the Israel-Iran conflict and closed higher by 1.3% – rising along with expectations the Federal Reserve will act sooner rather than later and cut interest rates.
The FOMC is still not likely to act at the next Fed meeting – but the probability of 25-basis-point reduction to the target range for the federal funds rate ticked up to 26.9% from 18.6% Tuesday and 12.5% a week ago.
September remains the odds-on favorite for the Fed's next move, perhaps only because there is no meeting in August, when our central bankers will gather with other luminaries of economics and finance for the annual Jackson Hole Symposium.
Meanwhile, BP (BP) was up as much as 9.5% on a report from The Wall Street Journal that the oil and gas producer is in early-stage talks to be acquired by Shell (SHEL). The energy stock closed up 1.7%.
Shell denied the WSJ report. SHEL stock closed down 1%.
FDX and NVDA
Charles Dow created his first stock market index, the Dow Jones Railroad Average, in 1884, to provide a big-picture view of the U.S. economy. The precursor of the Dow Jones Industrial Average included 11 stocks, mostly railroads – the companies that were moving the goods.
There is a separate Dow Jones Transportation Average now, and it includes companies such as FedEx (FDX) that reflect progress, modernity and the way goods as well as services are transacted these days.
FDX stock slumped 3.3% Wednesday after management reported better-than-expected fiscal fourth-quarter results but provided worse-than-expected fiscal first-quarter guidance and opted not to share full-year earnings guidance.
Nominally a technology stock and renowned as the leader of the AI revolution, what does Nvidia (NVDA) provide but the means to transact in a 21st-century economy? Semiconductors, in other words, are the new railroads.
NVDA stock surged 4.3% Wednesday and hit a new all-time intraday high on growing confidence big AI infrastructure spenders Alphabet (GOOGL), Amazon.com (AMZN), Meta Platforms (META) and Microsoft (MSFT) will keep up their capex commitments.
It's hard out there to be a new homeowner
The Census Bureau said sales of new single-family homes declined by 13.7% to a seasonally-adjusted annualized rate of 623,000 in May, well below expectations for a more modest decline.
"Following a jump in April," write Wells Fargo economists Jackie Benson and Ali Hajibeigi, "a move up in financing costs slowed new home sales in May."
Benson and Hajibeigi note a 3.2% year-over-year decline in transactions, "reflecting mounting headwinds to new home demand" including persistently high mortgage rates.
Related content
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

David Dittman is the former managing editor and chief investment strategist of Utility Forecaster, which was named one of "10 investment newsletters to read besides Buffett's" in 2015. A graduate of the University of California, San Diego, and the Villanova University School of Law, and a former stockbroker, David has been working in financial media for more than 20 years.
-
Stock Market Winners and Losers of the 'Big, Beautiful' Bill
Defense, manufacturing and tech should prosper, while health care and green energy stocks face hurdles.
-
I'm a Financial Planner: Here's How to Invest Like the Wealthy, Even if You Don't Have Millions
Private market investments, once exclusive to the ultra-wealthy and institutions, have become more accessible to individual investors, thanks to regulatory changes and new investment structures.
-
Four Ways a Massive Emergency Fund Can Hurt You More Than It Helps
Saving too much could mean you're missing opportunities to put your money to work. Redirect some of that money toward paying off debt, building retirement funds, fulfilling a dream or investing in higher-growth options.
-
With Buffett Retiring, Should You Invest in a Berkshire Copycat?
Warren Buffett will step down at the end of this year. Should you explore one of a handful of Berkshire Hathaway clones or copycat funds?
-
I'm a Financial Planner: How to Dodge a Retirement Danger You May Not Have Heard About
Timing is everything, and sequence of returns risk can mean the difference between a retirement nest egg that's overflowing … or empty.
-
Caring for Aging Parents: An Expert Guide to Easing the Financial and Emotional Strain
Early conversations, financial planning and understanding the progression of care needs can help to mitigate stress and protect family relationships.
-
Dow Adds 238 Points as UNH, CAT Pop: Stock Market Today
The lack of a September jobs report didn't seem to worry market participants, with the data delayed due to the ongoing government shutdown.
-
I'm a Financial Adviser: The OBBB Is a Reminder for Older People to Have a Long-Term Plan
The new tax bill presents a good opportunity for retirees to revisit tax plans, look into doing some Roth conversions and consider plans for long-term care.