The AI sector bounce is boosted market sentiment
Driving higher on the back of a Nvidia (NVDA) AI lift, the S&P 500 and Nasdaq both nabbed rose on Wednesday. Both indexes tapped fresh record closes, resuming their recent run higher, which was thwarted yesterday due to Oracle's (ORCL) selloff. Wall Street pushed the continued U.S. government shutdown aside, as investors unpacked the Federal Reserve's September meeting minutes, which reiterated officials' plans to cut interest rates at least twice more in 2025.
Continue reading for more on today's market, including:
- Space stock blasts higher on telecom deal.
- Airline giant sees pre-earnings options pop.
- Plus, takeover talks trigger major moves; FedEx stock sinks; and historical volatility circles the SPX.
There were no earnings of note today.
Gold Continues to Crush Record Rise
Russian output, lack of progress on a Ukraine peace deal, and stateside crude demand pushed oil higher today. November-dated West Texas Intermediate (WTI) crude tacked on 82 cents, or 1.3%, to settle at $62.55 per barrel.
Safe-haven assets continued to prove popular, with gold surging further above the significant $4,000 threshold. December-dated gold futures settled 1.6% higher at $4,067.70 per ounce -- a record peak.