Driving higher on the back of a Nvidia (NVDA) AI lift, all three major indexes nabbed daily gains on Wednesday. Both the S&P 500 and Nasdaq tapped fresh record closes, resuming their recent run higher, which was thwarted yesterday due to Oracle's (ORCL) selloff. Wall Street pushed the continued U.S. government shutdown aside, as investors unpacked the Federal Reserve's September meeting minutes, which reiterated officials' plans to cut interest rates at least twice more in 2025.
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Russian output, lack of progress on a Ukraine peace deal, and stateside crude demand pushed oil higher today. November-dated West Texas Intermediate (WTI) crude tacked on 82 cents, or 1.3%, to settle at $62.55 per barrel.
Safe-haven assets continued to prove popular, with gold surging further above the significant $4,000 threshold. December-dated gold futures settled 1.6% higher at $4,067.70 per ounce -- a record peak.
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