Tech Stocks Boosted by AI Optimism Amid Economic Uncertainties

The S&P 500 and Nasdaq edged higher on Wednesday, continuing a volatile rally as investors awaited new insights into interest-rate trends.

The delay in key economic reports due to the U.S. government shutdown has traders focusing on Federal Reserve official commentary for positioning guidance. Euphoria around artificial intelligence has kept equities optimistic despite the shutdown, with gold's significant ascent above $4,000 per ounce signaling a rising demand for a policy risk hedge.

While the Dow Jones faced losses, tech stocks like Nvidia and Micron Technology saw gains, elevating the Nasdaq. In contrast, energy stocks declined, and healthcare stocks slightly rose after an upgrade by BofA Global Research. Upcoming remarks from Fed officials and minutes from the September meeting are poised to influence market dynamics.

(With inputs from agencies.)