U.S. markets closed higher on Wednesday, backed by surging tech shares and strong neocloud earnings. The S&P 500 and the Nasdaq both climbed over 1 per cent during the session.
CoreWeave drove market momentum higher after reporting strong third-quarter results and raising its full-year revenue guidance. Nvidia also recovered ground following a recent two-session sell-off.
Index Performance Breakdown
- Dow Jones Industrial Average increased by 254.6 points or 0.49 percent to 52,486.49.
- Nasdaq gained 400.31 points or 1.60 percent to 25,466.189.
- S&P 500 rose by 98.45 points or 1.31 percent to 7,619.38.
Sectoral performance reflected widespread buying across hardware and energy segments. Semiconductor stocks posted substantial strength as the NYSE Arca Computer Hardware Index spiked 5.2 percent.
Sectoral Movers and Commodity Trends
- NYSE Arca Oil Index jumped 2.3 percent alongside rising crude oil prices.
- Philadelphia Oil Service Index increased by 2.3 percent on the day.
- Brokerage stocks delivered strong returns while gold stocks declined as precious metal prices dropped.
Corporate earnings updates also crossed the wires for the September 2026 quarter. Ajcon Global Service announced a profit after tax of Rs 1.04 million while Valley Magnesite reported a loss after tax of Rs 1.23 million.