Nasdaq has almost recovered the entirety of the sell-off of yesterday thanks to outsized gains from NVIDIA (NVDA). On the other hand, the Dow is in red dragged by a 7% drop in Intel (INTC), which competes with NVIDIA and Advanced Micro Devices (AMD) in the data center space.

Debt ceiling talks continue, and U.S. Representative Kevin Hern believes a debt limit deal could be reached tomorrow morning. To this, House Speaker McCarthy said today “we worked well past midnight last night. And yesterday, I thought, was a very good day. We made some progress.” It’s a wait-and-see game.

Consumer Staples is leading the pack of worst performers with Dollar Tree (DLTR) down 10% after the company lowered its profit outlook due to shrink-theft, damage, and other losses.

Market breadth is negative with decliners leading advancers by an almost 2-to-1 margin at the NYSE and NASDAQ.