Wall Street rises amid renewed US-Iran clashes, Dell jumps 6.9%, Nvidia gains 1.2%, Tesla falls 1%

Wall Street stock indices rose on Wednesday as investors weighed renewed clashes between the US and Iran against continued strength in artificial intelligence-related stocks.

As of 12:03 p.m. Eastern Time, the S&P 500 index rose 0.6%. The Dow Jones Industrial Average rose 0.5%. The Nasdaq Composite rose 0.5%.

At the open, the Dow Jones Industrial Average rose 62.7 points, or 0.12%, to 52,829.58. The S&P 500 rose 3.1 points, or 0.04%, to 7,634.58​, while the Nasdaq Composite dropped 5.8 points, or 0.02%, to 26,094.004.

Oil prices retreated from their recent gains on Wednesday, while Treasury yields remained broadly stable as markets assessed geopolitical risks and fresh economic data.

Brent crude, the global oil benchmark, declined 0.5% to $94.71 a barrel.

The yield on the benchmark 10-year US Treasury remained at 4.79%, unchanged from Tuesday. The 2-year Treasury yield was also steady at 4.39%.

Private hiring falls short of expectations

Data from payroll services company ADP showed that private-sector employment increased by 38,000 in August. The increase was lower than the previous month's growth and significantly below analysts’ expectations.

The ADP figures are being closely watched ahead of the government's official employment report for August due on Friday.

Labour market conditions remain a major concern for Wall Street and the Federal Reserve as investors assess the health of the US economy and the outlook for interest rates.

Key Stock Movers

Among major technology companies, Microsoft shares slipped 0.6%, while Broadcom declined 0.8%. AI chipmaker Nvidia’s stock gained 1.2% and Tesla fell 1%.

Dell Technologies jumped 6.9% following an encouraging financial update.

Energy stocks also traded mostly lower as crude prices pulled back.

Chevron shares edged down 0.1% after the company announced plans to expand its operations in Venezuela.

Brown-Forman rose 4.2% after the Jack Daniel's maker beat first quarter profit estimates.

Bank stocks surged with JPMorgan Chase rising 0.8% and Bank of America gainig 1.3%.

Bullion

Gold prices rebounced on Wednesday as the US dollar and Treasury yields retreated from recent highs.

By 09:57 a.m. EDT (1357 GMT), spot gold rose 1.1% to $4,373.87 an ounce. US gold futures for December delivery rose 0.6% to $4,423.90.

Among other metals, spot silver gained 1.6% to $65.2858 per ounce, platinum rose 1.8% to $1,771.52, and palladium rose 2.4% to $1,342.50.