S&P 500 and Nasdaq notch record-high closes as Oracle soars on AI optimism
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The S&P 500 and Nasdaq notched record-high closes on Wednesday, as Oracle surged and cooler-than-expected inflation data supported expectations the U.S. Federal Reserve will cut interest rates next week. Data center power suppliers also benefited, with Constellation Energy, Vistra and GE Vernova all rising more than 6%. Traders fully expect the Fed to cut interest rates by at least 25 basis points at its policy meeting next week, with a 10% chance the central bank could cut by 50 basis points, CME's FedWatch tool showed.
📄 Summary
The S&P 500 and Nasdaq notched record-high closes on Wednesday, as Oracle surged and cooler-than-expected inflation data supported expectations the U.S. Federal Reserve will cut interest rates next week. Data center power suppliers also benefited, with Constellation Energy, Vistra and GE Vernova all rising more than 6%. Traders fully expect the Fed to cut interest rates by at least 25 basis points at its policy meeting next week, with a 10% chance the central bank could cut by 50 basis points, CME's FedWatch tool showed.