Nvidia nears $5T, Trump to meet with Xi, Fed decision: 3 Things

Nvidia (NVDA) is approaching a market cap of $5 trillion as the chipmaker's stock continues to see a boost since CEO Jensen Huang's keynote address at GTC 2025 (GPU Technology Conference) on Tuesday.

US stock futures (ES=F, NQ=F, YM=F) continue to move higher in Wednesday pre-market trading as President Trump plans to lower tariffs against China. This comes ahead of the US leader's meeting with Chinese President Xi Jinping to further discuss a trade deal.

Federal Reserve officials are expected to cut interest rates at their October FOMC meeting. Their official statement is due out later today followed by a press conference with Fed Chair Jerome Powell.

To watch more expert insights and analysis on the latest market action, check out more Morning Brief.

Video Transcript

00:00 Speaker A

First up, Nvidia set to open with a $5 trillion valuation. This will be the first ever company to reach that milestone. The stock did close at a record high on Tuesday after announcing a slate of new technologies and partnerships at its GTC event in Washington DC.

00:10 Speaker A

Analysts this morning saying CEO Jensen Huang's keynote speech there hinted at higher than expected data center revenue next year.

00:17 Speaker A

And investors will also be closely watching other Magnificent 7 stocks, Meta, Microsoft, Alphabet. They'll all be reporting earnings after the closing bell.

00:23 Speaker A

Plus, on the trade front, President Trump says he plans to lower tariffs on China and discuss Nvidia's Blackwell chip with Xi Jinping. The President making the comments as he traveled from Japan to South Korea, while in South Korea, officials announced an updated framework for their trade deal with the US.

00:36 Speaker A

Meanwhile, the Senate voted to block Trump's 50% tariffs on Brazil. That vote coming amid growing tension in the Senate over how Trump's trade war has affected farmers and small businesses.

00:47 Speaker A

And the Federal Reserve rate decision due out today. Officials are poised to cut rates by a quarter percentage point at today's meeting. The FOMC will not release new forecasts or rate projections this time around, but investors will closely watch Fed Chair Powell's press conference for clues on its rate path.

01:00 Speaker A

Tune into Yahoo Finance for full coverage of the decision beginning at 2:00 p.m. Eastern Time.

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