Tech Stocks Propel Market Amid AI Surge

U.S. stocks climbed on Wednesday, led by technology shares and AI-driven megacaps. The Nasdaq recorded significant gains amid market anticipation over Federal Reserve policy and continued government shutdown. Investors showed interest in safe havens like gold as geopolitical uncertainties lingered.

Technology stocks spearheaded a surge in U.S. markets, pushing major indices to impressive highs. Investors eagerly anticipate insights from the Federal Reserve's recent meeting as economic data stalls amid a prolonged government shutdown.

The tech-heavy Nasdaq enjoyed the largest gains, driven by AI-oriented megacaps. Additionally, the S&P 500 achieved a record close. However, energy and consumer staples struggled, while chip stocks emerged as standout performers.

Rising geopolitical uncertainties helped elevate gold prices as investors sought safe havens. In the absence of fresh economic data, market participants turned their focus to upcoming earnings reports and awaited indications of potential interest rate adjustments from the Federal Reserve.

(With inputs from agencies.)