The S&P 500 Index ($SPX) (SPY) on Wednesday closed up +0.56%, the Dow Jones Industrial Average ($DOWI) (DIA) closed up +0.26%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.80%. March E-mini S&P futures (ESH26) rose +0.52%, and March E-mini Nasdaq futures (NQH26) rose +0.80%.
Stock indexes settled higher on Wednesday, as solid US economic data indicate a resilient economy. Wednesday’s reports on Dec capital goods new orders, Dec housing starts and building permits, and Jan manufacturing production were better-than-expected and bullish for stocks. Also, AI jitters temporarily eased, lifting chipmakers and software stocks. After months of gains in technology stocks fueled by AI optimism, equity markets have turned cautious amid doubts that heavy spending will yield meaningful returns or that new AI tools will disrupt many sectors of the economy, including finance, logistics, software, and trucking.
