All three major U.S. stock indices closed at record highs on Wednesday. The S&P 500 and Nasdaq advanced by 0.6% and 1.3%, respectively, while the Dow Jones gained 303 points, marking its first-ever close above 45,000.
Market sentiment was bolstered by a solid performance in the tech sector and encouraging earnings reports from major companies. Additionally, traders closely followed remarks from Fed Chair Powell. At the DealBook Summit, Powell reiterated that the central bank is not in rush to lower interest rates, emphasizing that the US economy remains solid but continues to face inflationary pressures.
In corporate news, Salesforce surged 11.1% after exceeding revenue forecasts and raising its fiscal-year guidance, while Marvell Technology jumped 23% on strong earnings. Key tech giants like Apple, Microsoft, Nvidia, Amazon, and Alphabet also booked gains. However, Foot Locker tumbled 8.6% following a revenue miss.
Source : Trading Economics
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