Market Gains Amid Resilient Economic Indicators and Fed Strategy

Major stock indexes rose as corporate earnings and U.S. private payrolls exceeded expectations, leading to a boost in Treasury yields. The U.S. services sector strengthened, while semiconductors and companies like AMD and Amgen saw gains. Investors focus on economic resilience amid ongoing government shutdown and court challenges to tariffs.

On Wednesday, major stock indexes climbed following stronger-than-expected corporate earnings and U.S. private payrolls data, which saw a surprising increase of 42,000 jobs in October. This exceeded analysts' expectations, propelling Treasury yields upward.

The U.S. services sector also demonstrated growth, benefiting from a rise in new orders. This growth comes amidst a record-setting U.S. government shutdown, forcing the Federal Reserve to rely increasingly on private sector indicators due to a lack of federal data.

Additionally, U.S. semiconductor indices rebounded, with Advanced Micro Devices' shares rising post a positive revenue forecast. The legal scrutiny of U.S. President Trump's tariffs continues to capture investor attention, echoing the persistent theme of economic resilience against global uncertainties.

(With inputs from agencies.)