Stocks settled higher across the board on Wednesday, with both the Dow and Nasdaq marking triple-digit gains as tech stocks bounced on news of an expanded partnership between chipmaker Nvidia (NVDA) and Meta Platforms (META). Amazon.com (AMZN) and Micro Technology (MU) shares also moved higher amid reports of increased holdings at activist investment firms. As investors kept tabs on developments between the U.S. and Iran, the Federal Reserve's meeting minutes for January were also in focus, with officials divided on the future of interest rates.
Oil, Gold Prices Surge Amid Heightened U.S.-Iran Tensions
Oil prices surged on Wednesday, after Vice President J.D. Vance noted that Iran did not address several U.S. demands during recent nuclear talks in Geneva, and that President Donald Trump could opt to use military force should negotiations fail. March-dated West Texas Intermediate (WTI) crude added $2.93, or 4.4%, to settle at $70.35 barrel.
Heightened geopolitical tensions drove gold prices higher, with investors also unpacking the Fed meeting minutes for January. April-dated gold futures tacked on 0.5% to settle at $4,977.80 per ounce.
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