U.S. equities ended Wednesday little changed overall, with the S&P 500 edging up 0.02% to 6,093.46, the Nasdaq Composite advancing 0.33% to 19,977.54 and the Dow Jones Industrial Average slipping 0.22% to 42,996.11. The benchmark index stayed within 1% of its February record, while the tech-heavy Nasdaq notched a fresh closing peak. Nvidia’s shares climbed more than 4% to another record, lifting the chipmaker’s market value to roughly $3.75 trillion and helping offset declines in economically sensitive industrial stocks. The rally cemented Nvidia’s position as the world’s most valuable publicly traded company, ahead of Microsoft. Investors continued to gauge the durability of the Israel–Iran cease-fire, which has eased worries about energy supply disruptions. Brent crude added 0.7% to $67.60 a barrel and West Texas Intermediate rose by a similar margin to $64.80, rebounding after the biggest two-day drop since 2022. Focus also remained on Washington, where Federal Reserve Chair Jerome Powell told the Senate Banking Committee that the central bank can wait for clearer data before trimming rates as it assesses the inflation impact of wide-ranging U.S. tariffs. Futures put the probability of a July rate cut at about 25%, rising to two-thirds for September.