American stock markets saw gains on Wednesday. As markets closed in New York, the Dow was reported at 52,856 points, marking a 0.7 percent increase compared to the previous trading day. Just moments earlier, the broader S&P 500 stood up 0.6 percent at approximately 7,757 points, while the Nasdaq 100, the technology exchange, calculated at around 29,823 points, was up 1.1 percent.
Hopes for an “AI boom” were renewed this Wednesday, thanks to surprisingly strong business figures released by SpaceX. Despite the looming threat of interest rate hikes, investors are increasingly scrutinizing whether the massive investments poured into “Artificial Intelligence” will ultimately prove profitable during this reporting period. This push comes as some AI software providers have recently advocated for a slowdown in AI development due to growing security concerns.
Shifting to commodities, the price of gold climbed, with a fine ounce trading for $4,135 in the evening (+0.2 percent), translating to 118.34 Euros per gram. Meanwhile, the price of oil also rose. Around 10 PM German time on Wednesday evening, a barrel of North Sea Brent crude cost $109.70, representing an increase of 94 cents, or 0.9 percent, over the previous day’s close.
The common European currency was slightly weaker by Wednesday evening: the Euro cost $1.1233, meaning the dollar traded for 0.8902 Euros.
