Wall Street Jitters Persist Amid Geopolitics and Retail Earnings

Wall Street stabilized after a tech-driven selloff on Tuesday, but investors remain cautious due to geopolitical tensions in the Middle East and upcoming retailer earnings. Target's premarket drop of 1.3% came despite improved annual sales forecasts, while Lowe's faces challenges from consumers curbing discretionary spending.

Moderna shares surged over 60% after its vaccine, developed alongside Merck's Keytruda, met primary goals in a trial. This significant development comes as US bond yields reached their highest levels in decades, reflecting concerns over government debt and geopolitical tensions that influence policy decisions.

The Strait of Hormuz dispute between the US and Iran has impacted Brent crude prices, with U.S. President Trump's assertion challenging Iran's claims. The Federal Reserve minutes may provide further insight into future policy directions.