US Stocks Rise to Record Highs

U.S. stocks experienced a rise on Wednesday, as the Dow Jones Index aimed for a new record. Strong earnings reports boosted optimism around artificial intelligence while hopes grew that a prolonged government shutdown would come to an end.

The Dow Jones Industrial Average (%DJI) rose by 0.4% following Tuesday's record closing, giving investors renewed hope. Simultaneously, the S&P 500 (%GSPC) and the tech-heavy Nasdaq Composite Index (%IXIC) also saw an approximate increase of 0.2%. This positive momentum developed after the CEO of Advanced Micro Devices (AMD) announced artificial intelligence-powered sales forecasts.

Nvidia (NVDA) refreshed optimism in the AI sector by raising growth expectations in data centers through its partnership with Foxconn (2317.TW, HNHPF). AMD shares rose by 7% in early trading, and Nvidia saw a less than 1% increase in response.

The positive atmosphere is further bolstered by a significant vote in the House of Representatives scheduled for today. This vote could bring an end to the longest government shutdown in U.S. history. The results of the vote could be swiftly signed by President Trump.

The reopening of the government would allow the release of delayed economic data; the employment report for September may be announced next week. Wall Street is eagerly anticipating formal economic insights as it tries to calculate the Federal Reserve's next move regarding interest rates based on recent private data.

On Wednesday, Federal Reserve officials including Stephen Miran and potential new presidential candidate Christopher Waller will be present. Investors are keenly focused on clues regarding policy decisions to be made at the Federal Reserve meeting in December.

As the earnings season continues at a slower pace, most S&P 500 companies have released their reports. On Wednesday, Cisco Systems (CSCO) is expected to report after the market closes. Additionally, while the cryptocurrency company Circle (CRCL) exceeded quarterly earnings with stablecoin growth, its shares experienced a drop.

At the market open, U.S. stocks edged higher. The Dow Jones Index (%DJI) moved toward a fresh peak with a 0.4% increase following Tuesday’s record close. The S&P 500 (%GSPC) and tech-focused Nasdaq Composite Index (%IXIC) also rose by over 0.2%. These broad gains came after a split session for stocks the previous day.

Oil prices fell on Wednesday as the Organization of the Petroleum Exporting Countries (OPEC) did not change its global oil demand forecast for October. The International Energy Agency (IEA) reported that oil and gas demand would not peak until 2030, continuing to rise until 2050. OPEC forecasts a daily increase of 1.3 million barrels in 2025 and 1.38 million barrels in 2026.

OPEC+ countries decided to increase output by 137,000 barrels per day in December but signaled that there would be no rate changes in the first quarter. This indicates that the market is cautiously assessing concerns over excessive supply. In addition to economic data and earnings reports, significant developments are occurring as we approach the upcoming COP30 climate change summit.