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Barchart
Rich Asplund

Stocks Power Higher on AI Optimism

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The S&P 500 Index ($SPX) (SPY) on Wednesday closed up +0.58%, the Dow Jones Industrials Index ($DOWI) (DIA) closed unchanged, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.19%.  December E-mini S&P futures (ESZ25) rose +0.60%, and December E-mini Nasdaq futures (NQZ25) rose +1.17%.

Most stock indexes rallied on Wednesday, with the S&P 500 and Nasdaq 100 posting fresh all-time highs.  Strength in semiconductor and AI infrastructure stocks on Wednesday supported gains in the broader market.  Optimism that growth in the AI sector and spending on artificial intelligence will translate into corporate profits is a major bullish factor for stocks.  Stocks are also underpinned by hopes that a resilient US economy and additional Fed easing will continue to support the economy. 

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