Tech Rally Lifts Wall Street: AI Fears and Fed Minutes on Radar

U.S. stock indexes rose on Wednesday, driven by gains in technology stocks amid a backdrop of AI-related concerns. Investors anticipate the Federal Reserve's minutes for insights into interest rate moves. Meanwhile, earnings reports from companies like Nvidia and Analog Devices influenced investor sentiment.

On Wednesday, technology stocks led U.S. stock indexes higher, continuing gains despite previous volatility. Investors' eyes are on the upcoming release of the Federal Reserve's latest policy meeting minutes, seeking clarity on the future trajectory of interest rates.

Recent turbulence in the markets has been spurred by fears that advances in AI could disrupt existing business models. While major tech stocks saw some volatility, gains were marked by Nvidia's 1.5% rise following a significant deal with Meta Platforms, and positive moves by giants such as Amazon, Alphabet, and Microsoft.

Today, the Dow Jones increased by 127.97 points, with the S&P 500 and Nasdaq Composite also posting gains. Noteworthy movements included Analog Devices predicting stronger-than-expected Q2 results, while Global Payments and Moderna posted substantial increases after positive news. Conversely, Palo Alto Networks saw a decline post-profit forecast adjustments.

(With inputs from agencies.)