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Wall Street stock indices rose on Wednesday as investors weighed renewed clashes between the US and Iran against continued strength in artificial intelligence-related stocks. As of 12:03 p.m. Eastern Time, the S&P 500 index rose 0.6%. The Dow Jones Industrial Average rose 0.5%. The Nasdaq Composite rose 0.5%. At the open, the Dow Jones Industrial Average rose 62.7 points, or 0.12%, to 52,829.58. The S&P 500 rose 3.1 points, or 0.04%, to 7,634.58, while the Nasdaq Composite dropped 5.8 points, or 0.02%, to 26,094.004. Oil prices retreated from their recent gains on Wednesday, while Treasury yields remained broadly stable as markets assessed geopolitical risks and fresh economic data. Brent crude, the global oil benchmark, declined 0.5% to $94.71 a barrel. The yield on the benchmark 10-year US Treasury remained at 4.79%, unchanged from Tuesday. The 2-year Treasury yield was also steady at 4.39%. Data from payroll services company ADP showed that private-sector employment increased by 38,000 in August. The increase was lower than the previous month's growth and significantly below analysts’ expectations. The ADP figures are being closely watched ahead of the government's official employment report for August due on Friday. Labour market conditions remain a major concern for Wall Street and the Federal Reserve as investors assess the health of the US economy and the outlook for interest rates. Among major technology companies, Microsoft shares slipped 0.6%, while Broadcom declined 0.8%. AI chipmaker Nvidia’s stock gained 1.2% and Tesla fell 1%. Dell Technologies jumped 6.9% following an encouraging financial update. Energy stocks also traded mostly lower as crude prices pulled back. Chevron shares edged down 0.1% after the company announced plans to expand its operations in Venezuela. Brown-Forman rose 4.2% after the Jack Daniel's maker beat first quarter profit estimates. Bank stocks surged with JPMorgan Chase rising 0.8% and Bank of America gainig 1.3%. Gold prices rebounced on Wednesday as the US dollar and Treasury yields retreated from recent highs. By 09:57 a.m. EDT (1357 GMT), spot gold rose 1.1% to $4,373.87 an ounce. US gold futures for December delivery rose 0.6% to $4,423.90. Among other metals, spot silver gained 1.6% to $65.2858 per ounce, platinum rose 1.8% to $1,771.52, and palladium rose 2.4% to $1,342.50. With a distinguished career spanning nearly two decades at the highest levels of financial journalism, Rajendra Kumar Saxena stands as a cornerstone of the editorial leadership team at Livemint.com. In his current capacity as Content Editor, he is responsible for managing the comprehensive editorial lifecycle of the publication. His role is multifaceted, encompassing the strategic selection of high-impact stories, original reporting, and meticulous editing. <br> Furthermore, Rajendra is instrumental in executing a sophisticated Search Engine Optimization (SEO)-driven content strategy, ensuring that the platform's digital content reaches a global audience while maintaining the highest standards of journalistic integrity and accuracy prior to publication. <br> Rajendra’s professional journey is characterized by a profound expertise in a wide array of critical sectors. His analytical depth covers global economics, commodities, and stock market dynamics (across both Indian and United States landscapes). <br> Beyond the financial markets, he possesses a keen understanding of political affairs, banking and finance, foreign affairs, and the rapidly evolving technology sector. <br> His eighteen years journey in financial and business journalism includes a significant tenure at Financialexpress.com and freelance contributions to The Hindu. <br> Currently based in Delhi, Rajendra holds a Master of Journalism degree from the prestigious Makhanlal Chaturvedi National University of Journalism and Communication (MCNUJC). His blend of academic rigor and decades of on-the-ground experience makes him a leading voice in navigating the complexities of today’s financial world. Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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