The S&P 500 Index ($SPX) (SPY) Wednesday closed up +0.61%, the Dow Jones Industrials Index ($DOWI) (DIA) closed up +0.69%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +1.24%.
Stocks rallied moderately on Wednesday, with the S&P 500, the Dow Jones Industrials, and the Nasdaq 100 posting new all-time highs. Strength in the Magnificent Seven stocks on Wednesday lifted the overall market. Also, positive earnings results lifted technology stocks as Marvell Technology closed up more than +23% after reporting better-than-expected Q3 adjusted EPS and forecasting Q4 adjusted EPS above consensus. In addition, Salesforce rose more than +10% after reporting stronger-than-expected Q3 revenue and forecasting 2025 revenue above consensus. Stocks raced to their highs Wednesday afternoon when Fed Chair Powell said the US economy is in "remarkably good shape."
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