US Stock Market Today: Dow Surges to Near Record, Nasdaq Slips as AI Stocks Swing — Shutdown Vote in Focus
US markets ended mixed on Wednesday as the Dow neared record highs on AI optimism, while the Nasdaq slipped. Investors await a crucial House vote to end the historic US government shutdown.
Dow climbs on AI-driven optimism as investors eye US shutdown vote; Nasdaq dips amid tech volatility.
US stock markets traded mixed on Wednesday as optimism over artificial intelligence (AI) earnings lifted the Dow Jones Industrial Average, while the Nasdaq Composite slipped amid renewed volatility in tech shares. Investors also kept a close watch on Washington as the House prepared to vote on a bill to end the longest government shutdown in US history.
The Dow Jones Industrial Average climbed nearly 0.9%, building on Tuesday’s record-high close. The S&P 500 stayed mostly flat, while the Nasdaq Composite fell 0.3%, reversing earlier gains.
AI optimism boosts Dow, but tech trade swings
Chipmaker AMD surged almost 10% in early trade after its CEO unveiled a bold long-term growth forecast centered on AI technologies. The bullish sentiment spread briefly across the semiconductor sector, with Micron, Broadcom, and TSMC recovering modestly from Tuesday’s slump. However, Nvidia fell nearly 1%, extending a 3% decline from the previous session.
Partner firm Foxconn and Germany’s Infineon both forecast a sustained boom in data center demand, further signaling that the AI-driven tech cycle remains strong despite market volatility.
Shutdown vote heads to the House
Investors are also watching the House of Representatives, which is expected to hold a decisive vote around 7 p.m. ET to end the ongoing federal shutdown. The bill is backed by President Trump, raising hopes that a resolution could come within hours.
A reopening of the government would unlock delayed economic data — including the crucial September jobs report — possibly as early as next week. Wall Street has been relying on private sector indicators during the shutdown to gauge the Federal Reserve’s next interest rate move.
Fed, earnings, and oil in spotlight
Several Federal Reserve officials, including Stephen Miran and Christopher Waller, are slated to speak today, with markets watching for signals about a potential December rate cut.
On the earnings front, Cisco (CSCO) will report results after market close, while Circle (CRCL) shares fell despite the crypto company posting a quarterly profit beat.
Meanwhile, oil prices dropped after OPEC maintained its demand forecast and the International Energy Agency (IEA) said it no longer expects oil demand to peak before 2050, citing slower green energy adoption and rising consumption in emerging markets. West Texas Intermediate crude slipped 1.3% to around $60 a barrel, while Brent crude traded near $64.
