Dow Jones Index rises ahead of Fed meeting minutes release; NVIDIA's stock price soars due to acquisition of Meta

p$Meta Platforms(META.US) On Wednesday, Dow Jones Industrial Average and other major stock index futures rose, as Wall Street awaited the latest policy meeting minutes from the Federal Reserve. Meanwhile, $NVIDIA(NVDA.US) stock rose in early trading today after the company announced a cooperation agreement with Meta Platforms (META).

On Wednesday, Dow Jones futures rose 0.2%, and S&P 500 futures rose 0.3%. The tech-heavy Nasdaq 100 futures rose 0.5% before the market open.

The yield on the 10-year U.S. Treasury note edged up to 4.06%. Crude oil prices rose to near $64 per barrel. Additionally, Bitcoin's price stabilized around $67,500.

Among exchange-traded funds, the Invesco QQQ Trust (QQQ) rose 0.5%, while the SPDR S&P 500 ETF (SPY) rose 0.4% before Wednesday's open.

In pre-market trading on Wednesday, $NVIDIA(NVDA.US) stock rose 2% after the company announced a "multi-year, cross-generational strategic partnership" with Facebook's parent company Meta. Meta's stock fell slightly in early trading.

$NVIDIA(NVDA.US) will help Meta build its AI infrastructure. According to the press release, Meta's AI roadmap includes large-scale deployment of NVIDIA central processing units and networking equipment, as well as millions of Blackwell and Rubin graphics processing units.

Meanwhile, shares of NVIDIA's competitors AMD and Broadcom fell 2% and 0.8%, respectively, in early trading.

Earnings Movers: Analog, Palo Alto, Toll Brothers

Companies with significant earnings growth included Analog Devices (ADI), Cadence Design (CDNS), Halozyme Therapeutics (HALO), Hecla Mining (HL), and MKS (MKSI), as well as Palo Alto Networks (PANW), Republic Services (RSG), and Toll Brothers (TOL).

Analog Devices stock rose 8.5% in early trading, and Cadence stock rose 7%. Halozyme stock fell slightly. Hecla stock rose nearly 4%, while MKS stock fell about 6%.

Palo Alto Networks stock plunged 7%, and Republic Services stock edged lower. Finally, Toll Brothers stock rose nearly 1%.

The minutes of the Federal Reserve's January meeting will be released at 2 p.m. ET on Wednesday. As expected, the Fed kept interest rates unchanged at the meeting but made a slightly hawkish adjustment to its policy statement.
Fed Chair Jerome Powell said risks to both the labor market and inflation have diminished, after the Fed had previously cited cooling in the labor market as a primary concern. Powell hinted that rates would remain low and called current policy "appropriately positioned."
Currently, federal funds futures traders see a slightly less than 8% chance of a 25-basis-point rate cut at the mid-March meeting.$NASDAQ Composite Index(.IXIC.US) $Dow Jones Industrial Average(.DJI.US) $NVIDIA(NVDA.US)