US stock market today: Wall Street surges to record high - Dow on fire, S&P and Nasdaq also gain - Top stocks to watch

Market Overview - US stocks experienced a significant rise, with the Dow Jones Industrial Average climbing 0.6% and reaching new intraday highs after a record close on Tuesday. The S&P 500 and Nasdaq Composite both added approximately 0.2%, reflecting cautious optimism among investors [1][9][11] Technology Sector - Advanced Micro Devices (AMD) led the technology sector surge, with shares increasing by over 8%. CEO Lisa Su projected that the AI data-center market could reach $1 trillion by 2030, emphasizing "insatiable demand" for AI chips, which signals strong revenue growth [2][12] - Nvidia's shares rose nearly 1% following a 17% year-over-year earnings increase reported by partner Foxconn, indicating continued demand in the data-center market. Infineon, a German chipmaker, also expressed optimism, boosting investor confidence in AI-focused semiconductors [2][13] Financial Sector - Financial stocks contributed significantly to the Dow's rally, with Goldman Sachs, JPMorgan, and American Express reaching new intraday highs. Other notable contributors included UnitedHealth, IBM, and Nike, which helped push the index toward fresh records [3][14] Government Developments - Recent developments in Washington, including the Senate's passage of a spending bill, have positively influenced market sentiment. The House vote is anticipated, which could potentially end the longest government shutdown in US history. A reopening would allow the release of delayed economic data, including the highly awaited September jobs report [4][16][17] Earnings Season - The earnings season is progressing at a slower pace, with Cisco set to release results after the market close. Circle, a cryptocurrency company, reported a quarterly profit beat amid growing stablecoin adoption, although its shares fell slightly [5][18] Sector Performance - The consumer and healthcare sectors remain stable, providing a buffer against the volatility seen in the tech sector. The market's split performance indicates a rotation into safer sectors while still betting on the AI boom [6][19]