Tech Stocks Surge Amid Strong Private Payroll Growth and Fed Rate Clarity

Stock indexes experienced significant growth on Wednesday as technology-related shares bounced back and U.S. private payrolls data exceeded expectations, while Treasury yields increased. The private payrolls rose by 42,000 jobs in October, surpassing economists' predictions of a 28,000 increase, according to a Reuters survey, though certain sectors like professional business services saw job cuts for the third consecutive month.

President Donald Trump's repeated call to end the filibuster rule amid a prolonged government shutdown added to market tensions. The Nasdaq showed a more than 1% rise in late-afternoon trading, significantly influenced by the semiconductor sector. Advanced Micro Devices' shares rose 3.2% after the company delivered an optimistic revenue forecast.

Market optimism also hinges on the resolution of the U.S. federal government shutdown. The Dow Jones Industrial Average rose by 291.82 points, the S&P 500 by 52.37 points, and the Nasdaq Composite by 267.47 points. Global stock indexes, including Asia, showed varied performance amid strong enthusiasm for generative artificial intelligence and stable currency markets post-Federal Reserve announcements. Oil prices declined due to concerns about oversupply, despite strong U.S. demand indicators.