Stocks fell Wednesday as investors faced uncertainty with the lack of positive news on the war in Iran and as oil prices moved higher.
IonQ gained 6.6% after the company said its latest quantum computer, Superion 256, will be the first system in Nvidia's quantum research center. The new device will act as a specialized co-processor alongside an Nvidia GPU cluster. Shares of Nvidia fell 1.3%.
Palantir Technologies rose 4.1% and was the best performer in the S&P 500. The Federal Aviation Administration began using its artificial-intelligence tool for air traffic control at three major Washington-area airports, and Rosenblatt sees "opportunity" for Palantir.
Paychex fell 7.1% and was one of the worst performers in the S&P 500. The stock was heading for its worst day since June 25, 2025.
Royal Caribbean dropped 3.6%. The cruise giant said it would buy a 50% ownership stake in Sandals Resorts, a move that would expand its operations to "land-based" vacations. The announcement followed reports Tuesday that Royal Caribbean would acquire Sandals.
Cracker Barrel gained 3.8%. The restaurant chain reported fiscal fourth-quarter earnings that topped Wall Street's estimates even as revenue is still down from a year before. Management attributed the solid performance to improvement in underlying traffic trends and customer experience.
General Mills fell 0.9%. While the cereal and packaged foods maker reported better-than-expected earnings for its fiscal first-quarter, it has continued to grapple with a challenging demand environment.
McDonald's dropped 4.2%. The company laid out multiple long-term financial targets at its Investor Day on Wednesday, aiming to improve menu items and modernize restaurants with AI. McDonald's said it plans to spend about $8.5 billion through 2036 on this updated strategy.
Worthington Enterprises rose 2.9%. The industrial manufacturer posted fiscal first-quarter earnings that surpassed analysts' consensus calls. CEO Joe Hayek credited the earnings beat to growing demand for Worthington's metal pressure tanks for data center cooling.
Mining stocks Freeport-McMoRan and Newmont fell 2.8% and 3.4%, respectively, as the price of gold extended its recent slump. Higher interest rates tend to drag down bullion and other precious metals.