The S&P 500 edged higher on Wednesday, lifted by gains in major technology stocks as traders assessed the latest minutes from the Federal Reserve’s policy meeting.
The benchmark index rose 0.56% to close at 6,881.31. The Nasdaq Composite advanced 0.78% to 22,753.63, while the Dow Jones Industrial Average added 129.47 points, or 0.26%, finishing at 49,662.66.
Nvidia shares climbed 1.6% after Meta Platforms announced plans to deploy millions of Nvidia chips in its expanding data center infrastructure. Fellow “Magnificent Seven” member Amazon gained nearly 2% after regulatory filings revealed that Bill Ackman’s Pershing Square increased its stake in the e-commerce giant by 65% in the fourth quarter, making it the fund’s third-largest holding. The move followed Amazon snapping a nine-day losing streak.
Micron Technology also rallied more than 5% after Appaloosa Management, led by David Tepper, boosted its position in the chipmaker.
Beyond the mega-caps, Logan Capital Management’s Stephen Lee noted that lesser-known technology names are also showing strength, particularly in industrial tech. Trimble shares rose about 2% during the session.
Investors also parsed the Fed’s January meeting minutes, which showed broad support for keeping the benchmark interest rate unchanged at 3.5%–3.75%, though policymakers remained divided on the future path of monetary policy.
Meanwhile, oil prices moved higher as markets reacted to fresh developments in U.S.–Iran tensions. Vice President JD Vance indicated that Iran had not addressed key U.S. concerns in recent nuclear talks and warned that military action remains a possibility.
Wall Street entered the session following a relatively quiet day, with major indexes posting modest gains. The software sector, already under pressure from artificial intelligence disruption fears, lagged during trading.
