Wall Street’s key indices rose slightly on Wednesday as the markets searched for clues on the outlook for interest rates.
At 9:34 a.m. ET, the Dow Jones Industrial Average rose 169.09 points, or 0.35%, to 48,283.35, the S&P 500 gained 7.72 points, or 0.11%, to 6,807.98 and the Nasdaq Composite gained 18.17 points, or 0.08%, to 23,129.63.
Medline IPO – 2025’s Biggest Share Sale
Medline’s shares were indicated to open up to 6.9% above their offer price in their Nasdaq debut on Wednesday, giving the medical supply giant a potential valuation of $40.42 billion.
The medical supplier raised $6.26 billion in the year’s biggest Initial Public Offering.
Key Stock Movers
Oracle shares declined 2.8% after a report said the cloud company’s largest data center partner Blue Owl Capital said it will not back a $10 billion deal for its next facility.
Amazon.com stock gained 0.8% after reports that the company was in talks to invest about $10 billion in ChatGPT maker OpenAI.
AI bellwether Nvidia fell 1.8% on Wednesday.
Netflix’s shares gained 2.4% after Warner Bros Discovery board rejected Paramount Skydance’s $108.4 billion hostile bid.
Paramount and Warner Bros dropped 4.8% and 1.1%, respectively.
Jabil shares climbed 6.2% after the electronic component maker forecast annual revenue and profit above estimates.
Lennar stock shed 3.6% as the homebuilder missed fourth quarter profit estimates.
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