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U.S. stocks rebounded on Wednesday after declining in the previous session as investors, deprived of economic data due to the government shutdown, parsed through the minutes of the Federal Open Market Committee’s (FOMC) meeting for a clearer picture of the future rate cut path.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) ended almost flat, declining just 1.20 points, to end at 46,601.78 points.
The S&P 500 jumped 0.6%, or 39.13 points, to close at 6,753.72 points, hitting a new all-time closing high. Technology, industrials and utility stocks were the biggest gainers.
The Technology Select Sector SPDR (XLK) gained 1.8%, while the Industrials Select Sector SPDR (XLI) rose 0.9%. The Utilities Select Sector SPDR (XLU) added 0.7%. Six of the 11 sectors of the benchmark index ended in positive territory.
The tech-heavy Nasdaq climbed 1.1%, or 255.02 points, to finish at 23,043.38 points.
The fear gauge, CBOE Volatility Index (VIX), was down 5.45% to 16.30. Advancers outnumbered decliners on the NYSE by a 1.74-to-1 ratio. On the Nasdaq, a 1.81-to-1 ratio favored advancing issues. A total of 20.70 billion shares were traded on Wednesday, higher than the last 20-session average of 19.63 billion.
On the Nasdaq, there were 3,007 new highs and 1,659 new lows. On the NYSE, there were 469 new highs and 70 new lows.
Tech Stocks Drive Rally
Tech stocks rebounded on Wednesday, with artificial intelligence (AI) stocks fueling the rally after taking a hit in the previous session, weighed down by a decline in the shares of Oracle Corporation ((ORCL - Free Report) ), following a report that the company is generating far lower margins on its cloud business than the expectations of analysts.
This raised fears that markets are getting trapped in an AI bubble and raised questions about the potential of AI.
Shares of Oracle ended 1.5% higher. Also, shares of NVIDIA Corporation ((NVDA - Free Report) ) gained 2.2% after the company’s CEO Jensen Huang said in an interview that the semiconductor giant has seen a surge in demand in recent times. NVIDIA has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Investors Assess Minutes of FOMC Meeting
The U.S. government shutdown entered its eighth day on Wednesday, and with no clear signs of an end to the situation, investors are likely to remain deprived of key economic data for some time.
However, investors on Wednesday analyzed the minutes of the Federal Reserve’s latest policy meeting to get an idea of future rate cuts. The Federal Reserve cut interest rates by 25 basis points in its September meeting and hinted at two more rate cuts this year.
The minutes suggested that Federal Reserve officials are divided over how much interest rates to cut in the future, as they remain concerned about a shrinking labor market and, at the same time, are worried about inflation.
Markets are pricing in a 94.6% chance of a 25 basis point rate cut by the Federal Reserve in its October policy meeting, according to the CME Group’s FedWatch Tool.
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Stock Market News for Oct 9, 2025
U.S. stocks rebounded on Wednesday after declining in the previous session as investors, deprived of economic data due to the government shutdown, parsed through the minutes of the Federal Open Market Committee’s (FOMC) meeting for a clearer picture of the future rate cut path.
How Did The Benchmarks Perform?
The Dow Jones Industrial Average (DJI) ended almost flat, declining just 1.20 points, to end at 46,601.78 points.
The S&P 500 jumped 0.6%, or 39.13 points, to close at 6,753.72 points, hitting a new all-time closing high. Technology, industrials and utility stocks were the biggest gainers.
The Technology Select Sector SPDR (XLK) gained 1.8%, while the Industrials Select Sector SPDR (XLI) rose 0.9%. The Utilities Select Sector SPDR (XLU) added 0.7%. Six of the 11 sectors of the benchmark index ended in positive territory.
The tech-heavy Nasdaq climbed 1.1%, or 255.02 points, to finish at 23,043.38 points.
The fear gauge, CBOE Volatility Index (VIX), was down 5.45% to 16.30. Advancers outnumbered decliners on the NYSE by a 1.74-to-1 ratio. On the Nasdaq, a 1.81-to-1 ratio favored advancing issues. A total of 20.70 billion shares were traded on Wednesday, higher than the last 20-session average of 19.63 billion.
On the Nasdaq, there were 3,007 new highs and 1,659 new lows. On the NYSE, there were 469 new highs and 70 new lows.
Tech Stocks Drive Rally
Tech stocks rebounded on Wednesday, with artificial intelligence (AI) stocks fueling the rally after taking a hit in the previous session, weighed down by a decline in the shares of Oracle Corporation ((ORCL - Free Report) ), following a report that the company is generating far lower margins on its cloud business than the expectations of analysts.
This raised fears that markets are getting trapped in an AI bubble and raised questions about the potential of AI.
Shares of Oracle ended 1.5% higher. Also, shares of NVIDIA Corporation ((NVDA - Free Report) ) gained 2.2% after the company’s CEO Jensen Huang said in an interview that the semiconductor giant has seen a surge in demand in recent times. NVIDIA has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Investors Assess Minutes of FOMC Meeting
The U.S. government shutdown entered its eighth day on Wednesday, and with no clear signs of an end to the situation, investors are likely to remain deprived of key economic data for some time.
However, investors on Wednesday analyzed the minutes of the Federal Reserve’s latest policy meeting to get an idea of future rate cuts. The Federal Reserve cut interest rates by 25 basis points in its September meeting and hinted at two more rate cuts this year.
The minutes suggested that Federal Reserve officials are divided over how much interest rates to cut in the future, as they remain concerned about a shrinking labor market and, at the same time, are worried about inflation.
Markets are pricing in a 94.6% chance of a 25 basis point rate cut by the Federal Reserve in its October policy meeting, according to the CME Group’s FedWatch Tool.