US Market Highlights: Dow, S&P 500, and Nasdaq gain as Nvidia–xAI deal boosts AI sentiment; focus shifts to Fed minutes and Powell’s speech
US equities advanced on Wednesday amid cautious optimism. The Dow Jones added 0.3%, the S&P 500 rose 0.5%, and the Nasdaq outperformed with a 0.7% gain. The Russell 2000 small-cap index also climbed 0.6%. Nvidia’s $2 billion partnership with Elon Musk’s xAI sparked a rally in AI-related stocks. Meanwhile, investors stayed alert ahead of the Federal Reserve’s meeting minutes and Chair Jerome Powell’s remarks, as well as ongoing concerns about a potential US government shutdown. Tesla unveiled lower-priced versions of its Model Y and Model 3 to counter softening demand and intensifying competition. The new variants, starting at $41,630 and $38,630 respectively, feature reduced specifications compared to premium models. Tesla shares edged higher, rebounding after a recent decline triggered by pricing concerns. Oracle disclosed a $100 million loss in its latest quarter from renting Nvidia Blackwell chips for its AI cloud infrastructure. Investment in securities market are subject to market risks. Read all the related documents carefully before investing.