Tech Gains Amid Market Jitters: Investors Eye Employment Data and Mideast Tensions

U.S. stock indexes saw minimal changes on Wednesday as tech shares rose. Investors were concerned about Middle East tensions and upcoming labor data. Nvidia boosted tech index gains, Nike shares fell, and Tesla and Humana faced slips. The Federal Reserve's recent policies also influenced market movements.

Major U.S. stock indexes were relatively stable on Wednesday, highlighted by gains in technology shares even as investors remained cautious due to Middle East tensions and anticipated U.S. labor data.

Nvidia shares increased by 1.5%, contributing to a 0.6% rise in the S&P 500 technology index. Conversely, Nike shares dropped by 6.1% after the company retracted its annual revenue forecast while preparing for incoming CEO leadership. The ongoing tension between Israel and Iran also kept investors on edge.

Wednesday saw data indicating U.S. private payrolls surged more than expected in September, hinting at a resilient job market. With the September non-farm payrolls data set for release on Friday, investors remain focused. "We have the jobs report Friday and then earnings season starts at the end of next week," noted Michael O'Rourke, chief market strategist at JonesTrading.

(With inputs from agencies.)