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Tech Rally Drives S&P 500 and Nasdaq to New Closing Records

Asian markets largely followed higher, with deal-driven swings in Japan versus Hong Kong.

Overview

  • The S&P 500 rose 0.58% to 6,753.72 and the Nasdaq gained 1.12% to 23,043.38, setting new closing highs.
  • Nvidia climbed 2.20% after its CEO reported stronger chip demand, while AMD jumped 11.37%.
  • Fed minutes revealed internal splits with a majority favoring more easing this year, while the government shutdown stretched into an eighth day.
  • Japan’s Nikkei advanced 1.77% to a record 48,580.44 as SoftBank rallied after announcing the purchase of ABB’s robotics business.
  • Hong Kong’s Hang Seng slipped 0.29% as HSBC fell on a bid to buy the shares it does not own in Hang Seng Bank, which surged.