Wall Street extended its rally on Wednesday, driven by robust gains in technology stocks, as investor optimism around AI-fueled growth continued to strengthen.
The Nasdaq 100 climbed 0.9%, pushing further into record territory following Tuesday’s highs. The S&P 500 advanced 0.4%, hitting 6,077—a fresh record-high milestone—eyeing its twelfth gain in thirteen sessions.
Fresh economic data offered a mixed narrative. The ISM services index showed a slower-than-expected growth in November, while ADP reported private payroll growth of 146,000 for the month, slightly under the consensus estimate of 150,000.
St. Louis Federal Reserve President Alberto Musalem struck a cautious tone on monetary policy, suggesting a potential slowdown or pause in the pace of interest rate cuts might soon be warranted.
The dollar weakened after the ISM report, while U.S. Treasury yields erased earlier gains and remained steady by midday.
In commodities, gold added 0.3%, while natural gas and crude oil prices declined 2.6% and 1%, respectively.
Meanwhile, the cryptocurrency market struggled to keep up with the broader risk-on mood. Bitcoin (CRYPTO: BTC) slipped 0.2%, trading just above $95,000
Wednesday’s Performance In Major US Indices, ETFs
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Wednesday’s Stock Movers
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