The U.S. stock market closed Wednesday in a mixed session, with the Dow Jones rising 263.24 points (+0.49%) to 54,349.12, while the S&P 500 and Nasdaq Composite fell by 12.97 points (-0.17%) to 7,723.55 and 221.55 points (-0.83%) to 26,363.44, respectively. The uneven performance reflected a risk-off tone, with the Nasdaq's decline driven by a pullback in the chip sector, particularly evident in the underperformance of SpaceX and AMD shares after their earnings reports. The Dow's gain was supported by optimism around a potential Hormuz deal, as highlighted by a statement from former President Trump. Meanwhile, the S&P 500's flat performance marked the end of a four-day rally, with investors digesting a mixed bag of economic data and corporate earnings.

The market's volatility was further influenced by the tech sector, with Nvidia and Micron shares contributing to the Dow's rise, while Alphabet's stock drop provided a cautionary note on the broader market. The AI spending surge and massive share unlock at SpaceX also weighed on investor sentiment, with the company's stock falling 12% amid concerns over valuation and future growth prospects. AMD's underperformance after earnings underscored the challenges facing the semiconductor sector, with investors expressing disappointment over the company's "not exceptional" results. Overall, the session saw a broad-based selloff in the Nasdaq, with the S&P 500 and Dow showing more resilience