AI Revival Lifts Stocks as Bonds Fall on Election Day — US Market Wrap
A revival in the AI trade powered Wall Street gains, while bonds fell and the dollar rose on US Election Day. Chipmakers halted a rout fueled by concerns that the AI spending boom is becoming harder to justify. The rebound lifted the S&P 500 even as most of its companies fell. In late trading, Advanced Micro Devices and Super Micro Computer issued strong forecasts. Oil prices eased, but the decline was not enough to lift Treasuries amid solid job openings data. Millions of Americans are casting ballots in Tuesday’s races that will determine local issues as well as control of Congress. The first polls close at 6 p.m. Eastern time.
A revival in the AI trade powered Wall Street gains, while bonds fell and the dollar rose on US Election Day. Chipmakers halted a rout fueled by concerns that the AI spending boom is becoming harder to justify. The rebound lifted the S&P 500 even as most of its companies fell. In late trading, Advanced Micro Devices and Super Micro Computer issued strong forecasts.
Oil prices eased, but the decline was not enough to lift Treasuries amid solid job openings data. Millions of Americans are casting ballots in Tuesday’s races that will determine local issues as well as control of Congress. The first polls close at 6 p.m. Eastern time.