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EPS and sales both made a slight miss in earnings for Darden Restaurants (DRI), though as Diane King Hall points out, the company still sees strength in Olive Garden and Longhorn Steakhouse. MGM Resorts (MGM) sold off sharply after Diller's withdrew its takeover bid, while Everpure (P) hit a new all-time high after it issued positive guidance.

David Waddell addresses the Fed and heightening interest rate hike probabilities as crude oil prices stay elevated and Treasury yields continue to rise to historic levels. That said, he believes earnings won't take as big of a hit as other analysts fear. David also makes a bullish case in software companies.

"Be careful at these levels" across Treasury yields, says Kevin Hincks, with the 10-year crossing 5% once again and the 30-year crossing 5.25%. The latter is at its highest level since 2004. Kevin explains how Fed speakers giving their updates on the state of the U.S. economy and supply shocks from crude oil will raise questions for long-term growth. He says the labor market "remains strong" when reviewing the latest jobless claims print. Kevin then outlines expectations for the meeting between President Trump and China President Xi Jinping.

Costco (COST) shares have fallen behind performance from wholesale store peers like Target (TGT) and Walmart (WMT). Rick Ducat turns to his technical analysis in the stock as the company readies to report earnings after Thursday's close. He turns to an example options trade for the retail giant.

Jeffrey Cole, director at the Center for the Digital Future, doesn't see some Mag 7 companies leading the future of tech. "Most companies really aren't ready to understand disruption," says Jeffrey, explaining how historic disruptors like Alphabet (GOOGL) are now being disrupted by new tech like OpenAI's ChatGPT. He points to Big Tech giants like Apple (AAPL), Microsoft (MSFT), and Meta Platforms (META) as key targets at risk. Jeffrey sees SpaceX (SPCX), Anthropic, Nvidia (NVDA), and even Intel (INTC) as companies that will continue to disrupt the stock market.

The interest rate hike from the Fed is a big deal for small caps, says Erin Gibbs. She explains how mega cap firms stomach the pains of rising rates while the small cap peers pay the real price. However, Erin still sees opportunity in select names like GitLab (GTLB), Match Group (MTCH), and Dropbox (DBX) even if volatility grips these stocks for now. She turns to the Mag 7 by discussing Meta Platforms' (META) Muse AI and why investors "shouldn't underestimate" the AI agent.

BNP Paribas upgraded Nebius (NBIS) to buy from neutral and set a price target of $399, which is close to a Street high. Brett Crowther of Charles Schwab highlights the short-term consolidation and the run higher he sees for shares. The question lies in long-term price action as there's a key line in the sand for resistance.

Markets pricing in a ceasefire or general cooldown in U.S.-Iran tensions are "too optimistic," according to Rachel Ziemba. She points out that Iran has no need to expedite the timeline for peace as the Trump administration faces pressure to do so with midterm elections lingering. As for the summit between President Trump and China President Xi Jinping, Rachel says she doesn't have high expectations for market-moving headlines in their meeting.

There was more volume on Wednesday trading session than the Fed's interest rate decision last week, according to Kevin Green. It's a point of concern for bulls as stocks ended down on the day. KG notes that 10-year Treasury yields hitting 2004 highs, paired with volatility from the Japanese yen, pile onto the concerns. It all comes as the summit between President Trump and China President Xi Jinping begins.

Cybersecurity stocks like CrowdStrike (CRWD) and Palo Alto Networks (PANW) closed as the top performers in the S&P 500 (SPX). Meta Platforms (META) continued to inch toward all-time highs as Muse AI reaches 500,000 users. McDonald's (MCD) investor day didn't raise optimism among shareholders as the stock plunged to four-year lows. Sam Vadas takes investors through the top stories moving Wall Street this Wednesday.

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