NEW YORK — U.S. stock indexes reached more records after tech companies talked up how much artificial intelligence is boosting their results. The S&P 500 climbed 0.6% Wednesday to add to what looks to be one of its best years of the millennium. The Dow Jones Industrial Average gained 0.7%, while the Nasdaq composite added 1.3% to its own record. Salesforce pulled the market higher after highlighting its artificial-intelligence offering for customers.
CEO Mark Benioff highlighted the company’s artificial-intelligence offering for customers, saying “the rise of autonomous AI agents is revolutionizing global labor, reshaping how industries operate and scale.” The stock of the company, which helps businesses manage their customers, rose 9.3%. Retailers overall have offered mixed signals about how resilient U.S. shoppers can remain. Their spending has been one of the main reasons the U.S. economy has avoided a recession that earlier seemed inevitable because of high interest rates brought by the Federal Reserve to crush inflation. But shoppers are now contending with still-high prices and a slowing job market.
The Fed began easing its main interest rate from a two-decade high in September, hoping to offer more support for the job market. The central bank had appeared set to continue cutting rates into next year, but the election of Donald Trump has scrambled Wall Street’s expectations somewhat.
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