Equity markets in the U.S delivered a mix of enthusiasm and caution today, with Wall Street rallying on artificial intelligence momentum.
U.S. equities traded near record levels, buoyed by another strong showing in technology. The S&P 500 and Nasdaq Composite climbed higher, while the Dow Jones Industrial Average lagged as some industrial and consumer names faced pressure.
The standout driver was Advanced Micro Devices (AMD), whose shares surged more than 25% after the company announced a landmark deal to supply AI chips to OpenAI. The move sparked a broader rally in semiconductor and AI-linked stocks, with companies such as Marvell and Micron notching gains. By contrast, Nvidia slipped modestly as investors weighed the impact of heightened competition.
Mergers and acquisitions also added to the day’s headlines. Fifth Third Bancorp unveiled a $10.9 billion all-stock takeover of Comerica, sending Comerica shares sharply higher while weighing on Fifth Third’s stock. The deal highlights growing confidence that regulators may support consolidation in the banking sector.
On the macro front, a partial U.S. government shutdown continues, but investors appear unfazed for now. Market attention is pivoting to the Federal Reserve, with Chair Jerome Powell and the release of meeting minutes expected to shape expectations for interest-rate policy. With fewer data releases available during the shutdown, Fed commentary and corporate earnings are poised to drive short-term sentiment.
