The S&P 500 Index closed down by 0.01% on Wednesday while the Dow Jones Industrials Index rose 0.02%, and the Nasdaq 100 Index increased by 0.32%. Notably, ASML Holding NV reported a record €13.2 billion in Q4 bookings, significantly exceeding the consensus of €6.85 billion, boosting optimism in the artificial intelligence sector and driving gains in chipmakers. The Federal Open Market Committee (FOMC) maintained the fed funds target range at 3.50%-3.75%, with Chairman Jerome Powell indicating the economy’s solid pace and the potential for future adjustments based on incoming data.
In other market activities, gold prices surged over 3% to an all-time high, while WTI crude oil reached a four-month high amid geopolitical tensions following President Trump’s warning to Iran. The dollar index also finished higher, recovering from its recent lows. Mortgage applications dropped by 8.5%, reflecting rising interest rates, which reached a fixed average of 6.24%. This week, 102 S&P 500 companies are set to report earnings, with 81% of those that have reported thus far exceeding expectations.
