Stocks Surge as Wall Street Hits One-Week Peaks

U.S. stock indexes soared, driven by gains in the Dow and S&P 500, with Salesforce and Nvidia leading the charge. Alphabet dragged down the communication services sector. Investors looked to the Federal Reserve's upcoming decisions and navigated the challenges posed by geopolitical tensions.

Wall Street saw a rally on Thursday as the major indexes climbed, with the Dow Jones and S&P 500 reaching one-week highs. Salesforce's 3.1% rise, boosted by broker upgrades, played a pivotal role in the upturn.

Nvidia shares edged up 0.5% following a strong earnings report, despite meeting mixed investor reactions. This propelled the Philadelphia Semiconductor index by 1.6%. In contrast, Alphabet fell 4.7%, influencing the communication sector's decline after the Justice Department's intervention regarding Google's monopoly concerns.

Investors are now eyeing the Federal Reserve's upcoming decisions, particularly as some anticipate a rate cut. Meanwhile, geopolitical tensions involving Ukraine and Russia pushed crude prices higher, benefiting the energy sector with an 0.8% gain.

(With inputs from agencies.)