US Markets Move in Mixed Directions as Nvidia Earnings and Fed Minutes Take Center Stage

• How Did Major Indices Perform Today?
• Why Are Nvidia’s Earnings So Crucial?
• What’s the Market Watching in Fed Minutes?
• Why Did Target Shares Decline?
• What Were Today’s Key Economic Indicators?
• Which Stocks Made Notable Moves?
• Market Outlook and Final Thoughts
• Frequently Asked Questions

Wall Street showed a split performance on November 20, 2025, with the Dow Jones dipping slightly while the Nasdaq edged higher. Investors eagerly awaited Nvidia’s Q3 earnings report amid concerns about tech stock overvaluation. Meanwhile, the Federal Reserve’s latest meeting minutes were set to release at 8 PM, offering clues about potential December rate decisions. Retail giant Target stumbled after reporting weaker-than-expected quarterly sales, while Adobe made waves with its $1.9 billion acquisition of Semrush. Oil inventories and trade deficit data also painted a mixed economic picture. Here’s a DEEP dive into the day’s market-moving events.

How Did Major Indices Perform Today?

As of 5:30 PM ET, the Dow Jones Industrial Average slipped 0.21% to 45,993 points, while the tech-heavy Nasdaq Composite gained 0.62% to 22,571 points. This divergence reflects ongoing investor uncertainty about interest rates and tech valuations. The S&P 500 hovered NEAR flatline, caught between gains in technology and losses in consumer discretionary stocks.

Why Are Nvidia’s Earnings So Crucial?

Nvidia, the AI chip powerhouse, was set to report Q3 earnings after the closing bell. Analysts expected revenue around $54 billion, slightly below Wall Street’s $55 billion consensus. J.P. Morgan analysts suggested the company might guide Q4 revenue between $63-64 billion, potentially surpassing expectations of $61.5 billion. “Nvidia’s results could set the tone for the entire tech sector,” noted a BTCC market analyst. “Their AI chip demand remains the market’s litmus test for tech growth.”

What’s the Market Watching in Fed Minutes?

The Federal Reserve’s November meeting minutes, due at 8 PM ET, were expected to provide hints about December’s rate decision. Markets currently price in an 85% chance of rates holding steady, according to CME FedWatch data. Traders will scrutinize any discussion about inflation persistence or labor market cooling that might influence future policy.

Why Did Target Shares Decline?

Target shares fell 0.90% to $87.76 after reporting Q3 sales of $25.27 billion, down 1.6% year-over-year and missing estimates. While EPS of $1.78 beat expectations ($1.72), net income dropped 19% to $689 million. The retailer maintained cautious guidance, forecasting “low single-digit” sales declines. “Target’s struggles highlight the consumer spending shift toward essentials,” observed a retail sector analyst.

What Were Today’s Key Economic Indicators?

The US trade deficit narrowed sharply to $59.6 billion in August from $78.2 billion in July, beating the $61.3 billion forecast. In energy markets, crude inventories fell by 3.426 million barrels last week versus expectations of a 0.6 million draw. Gasoline stocks ROSE by 2.327 million barrels, while distillates increased by 0.171 million barrels.

Which Stocks Made Notable Moves?

• Adobe announced acquiring Semrush for $12/share ($1.9 billion total), a 77.4% premium to Tuesday’s close. The marketing analytics platform will bolster Adobe’s digital experience tools.
• Boeing secured a memorandum for 75 firm 737 MAX orders plus 75 options from Flydubai, potentially doubling the airline’s MAX fleet.
• Lowe’s raised its annual sales outlook to $86 billion (from $84.5-85.5B) despite Q3 comparable sales growth of 0.4% missing the 1% estimate.

Market Outlook and Final Thoughts

Today’s mixed market action reflects the tug-of-war between tech Optimism and rate uncertainty. As we await Nvidia’s earnings and Fed insights, remember that November often brings seasonal strength. However, with valuations stretched in some sectors, selective positioning remains key. This article does not constitute investment advice.

Frequently Asked Questions

What time are Nvidia earnings released?

Nvidia’s Q3 2025 earnings were scheduled for after market close on November 20, typically around 4:30 PM ET.

How can I access the Fed minutes?

The Federal Reserve publishes meeting minutes on their website at 2 PM ET three weeks after each meeting. Today’s release covers the November 4-5 meeting.

Why did oil prices react to inventory data?

Crude prices initially rose on the larger-than-expected inventory draw but pared gains as gasoline stock builds suggested weaker demand.