U.S. stocks closed higher on Wednesday, with all three major indices posting gains as technology shares propelled the market upward. Falling oil prices also provided a boost to equities, easing concerns about inflationary pressures.
Among the top 20 U.S. stocks by trading volume on September 18, Intel surged 7.67% after announcing that its 14A process node is ahead of schedule, with trial production now slated for the first quarter of next year. Most Chinese stocks listed in the U.S. rose, with Taiwan Semiconductor up 3.00% while Bilibili fell 3.36%.
In commodities, oil prices declined as worries over Middle East supply disruptions eased, while copper and gold both advanced. Gold climbed alongside U.S. Treasury prices, which recovered most of their post-Fed losses, supported by lower oil prices and gains in UK gilts.
On the macro front, the U.S. has approved Iranian President and Foreign Minister to attend the UN General Assembly in New York. President Trump spoke with Mexico's President Claudia Sheinbaum, opening new discussions in U.S.-Mexico trade talks. Iran's Islamic Revolutionary Guard Corps reported striking a Togolese-flagged tanker in the Strait of Hormuz. Trump stated the U.S. is approaching a critical crossroads regarding Iran, while U.S. Central Command said it has guided 104 commercial ships to alter their routes.
European stocks recorded their biggest gain since early July as the Fed's rate cut eased inflation concerns. Russia projects its budget deficit at about 2% of GDP by 2027, with an oil price benchmark set at $50 per barrel. The Bank of England adjusted its quantitative tightening program, canceling plans to sell long-dated gilts.
OpenAI is reportedly close to cracking another Millennium Prize Problem in mathematics. The U.S. FAA has granted emissions waivers for 35 Boeing 777F freighters, extending the exemption through 2030. General Motors will produce components for Patriot missiles amid a severe U.S. weapons shortage.
NVIDIA CEO Jensen Huang projected that chip sales will double next year, reflecting surging demand for AI processors. Salesforce aims to exceed $63 billion in revenue by fiscal 2030, while Blackstone plans to offer exit options for some investors in its major real estate fund.
The S&P 500 posted its best performance in over six weeks as falling oil prices alleviated inflationary worries. In overseas headlines, the U.S. approved Iran's UN attendance, NVIDIA's Huang forecast record chip sales, and KKR raised its U.S. Treasury yield outlook. JPMorgan expressed uncertainty about how the Iran conflict might conclude, stating, "We simply don't know."
Oil prices slipped as Middle East supply fears faded, though market conditions remain tight. KKR upgraded its U.S. Treasury yield forecast, suggesting high interest rates may persist longer. The U.S. dollar held steady in New York, while sterling gave up gains after the Bank of England held rates. Germany's IMK sharply raised its 2026 growth forecast to 1.3%.
Analysts are examining why elevated Treasury yields are becoming the norm, as global bond selloffs continue. Cathie Wood highlighted a potential $10 trillion market opportunity for Elon Musk's SpaceX. Jamie Dimon advocated for a "light-touch" approach to AI regulation. The UK king convened a summit to address AI risks, with NVIDIA's Huang stating that products deemed insufficiently safe should be delayed.
Turkey is taking multi-pronged measures to stem a fund crisis, including fund liquidations, trading bans, and executive detentions. Senators are demanding investigations into "Made in America" claims by Walmart and Amazon regarding robotics data. Netflix's content chief Bella Bajaria discussed the platform's live sports strategy. The IMF suggested Australia may need further rate hikes, while European bond markets saw a bull-flattening of the UK yield curve following the Bank of England's quantitative tightening adjustments.