S&P 500 and Nasdaq Hit Record Highs Amid Tech Rally and Fed Uncertainty

The S&P 500 closed at a record 6,753.72, while the Nasdaq surged to 23,043.38, powered by broad gains in tech, utilities, and industrials. The rally came despite Oracle's weak outlook sparking concerns about the sustainability of the AI boom and a U.S. government shutdown entering its eighth day.

Market sentiment remained resilient, with the S&P 500 rising 0.58% and the Nasdaq jumping 1.12%. The Dow Jones Industrial Average barely moved, slipping just 1.20 points. Nvidia rebounded strongly, climbing 2% after CEO Jensen Huang highlighted surging demand for computing power and confirmed the company's involvement in funding Elon Musk's xAI venture.

The Federal Reserve's September meeting minutes revealed a divided committee, with no consensus on future rate cuts. Markets shrugged off the political gridlock and mixed Fed signals, as bulls maintained their momentum.