Equity Alert
S&P 500, Nasdaq close at record highs as technology cos gain
This story was originally published at 07:48 IST on 9 October 2025
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Equity Alert: S&P 500, Nasdaq close at record highs as technology cos gain
MUMBAI--0730 IST--The S&P 500 and the Nasdaq Composite closed at record highs Wednesday, with information technology stocks among the biggest gainers in the session. Traders looked past minutes of the US Federal Reserve's September meeting, which showed central bankers divided over US monetary policy going forward. The US government shutdown entered its eighth day, leaving markets without official economic indicators. The Dow Jones Industrial Average ended flat.
The technology-heavy Nasdaq Composite closed over 1% higher. Shares of Advanced Micro Devices jumped over 11%, extending gains for the third day, and shares of Broadcom, Intel and Apple rose almost 1–3%. Shares of chipmaker Nvidia were up 2?ter its CEO Jenseng Huang said in an interview on CNBC that demand for artificial intelligence chips has gone up this year. Huang also confirmed Nvidia's involvement in funding Elon Musk's xAI. "The demand (for chips) is still there – and Nvidia is obviously in the best position in the world to comment on that – I do think is reassuring that the level of spending capital expenditure isn't completely circular," Ross Mayfield, Baird investment strategist, was quoted by CNBC as saying.
Shares of Newmont and Gold Fields were up nearly 2% and 4%, respectively, due to a surge in gold prices. Shares of Freeport-McMoRan advanced over 5?ter Citigroup upgraded its view on the stock to 'buy' from 'neutral', according to a Reuters report. Fair Isaac Corp, which assesses consumer creditworthiness, fell nearly 10?ter credit bureau Equifax said it plans to offer cheaper mortgage credit scores.
Minutes of the Fed's September policy meeting showed policymakers were concerned about rising labour market risks but still cautious about inflation. The timing and the quantum of further interest rate cuts remained uncertain. Traders see a 93% probability of a 25-basis-point interest rate cut by the Fed at its October policy meeting, according to data from CME Fedwatch tool. Traders are focussing on the third-quarter earnings season, which will get underway next week, to provide cues on the financial health of US companies.
Following are the closing levels of US indices Wednesday:
|
Index |
Level |
Change in % |
|
S&P 500 |
6753.72 |
0.58 |
|
NASDAQ Composite |
23043.38 |
1.12 |
|
Dow Jones Industrial Average |
46601.78 |
0 |
(Eshitva Prakash)
End
US$1 = INR 88.80
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Avishek Dutta
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