US stocks closed at a record on Wednesday, thanks to shares benefiting from the artificial-intelligence boom as traders parsed minutes from the Federal Reserve’s September meeting that showed a willingness to lower interest rates further this year.
The S&P 500 Index was up 0.6%, notching its 33rd all-time high in 2025. The benchmark had snapped seven straight sessions of gains a day earlier when a drop in Oracle Corp. called to question the sustainability of the AI trade. But the Nasdaq 100 Index rose 1.2% on Wednesday, with Oracle shares climbing 1.5% after sliding as much as 7.1% Tuesday. A basket of the so-called Magnificent Seven companies gained 0.8%. Nvidia Corp. rose 2.2%