Artificial-intelligence stocks led Wall Street higher Tuesday, lifting the Nasdaq Composite about 1.2% and the S&P 500 roughly 0.6% as investors looked ahead to a Federal Reserve decision and major technology earnings.
Chipmakers were among the strongest performers. Broadcom gained around 4%, Advanced Micro Devices rose about 5.5% and Micron Technology added roughly 2.8%, according to market-close reports.
The rally followed an announcement of bank financing for purchases of Broadcom chips and networking equipment intended to be leased to an AI company. The news renewed investor interest in the companies supplying the industry’s computing infrastructure.
The gains were uneven. Reuters reported that six of the S&P 500’s 11 sectors rose, with technology leading while energy shares fell. The Dow Jones Industrial Average was little changed.
Attention now turns to Wednesday’s Federal Reserve rate decision and earnings from major technology companies. Those events could give investors new clues about borrowing costs and whether heavy spending on artificial intelligence is translating into stronger business results.
The percentage changes above are rounded session moves for Tuesday, October 27. They describe the completed trading day, not overnight futures or a prediction of the next session.
