Record Rally: U.S. Stock Indexes Soar on Tech Gains and Fed's Positivity

U.S. stock indexes hit record highs, boosted by Salesforce's positive results and Federal Reserve Chair Jerome Powell's optimistic comments on the economy. The tech sector led gains, with Salesforce and Marvell Technology seeing significant growth. Upcoming U.S. employment data remains a key focus for investors.

All three major U.S. stock indexes reached record closing highs on Wednesday, fueled by a surge in technology shares. Salesforce's upbeat results and positive comments from Federal Reserve Chair Jerome Powell provided a late boost to the market.

Powell's remarks at a New York Times event suggested a stronger U.S. economy than previously anticipated, allowing the Fed to exercise caution in further rate cuts. His optimistic view on inflation was deemed beneficial for stocks, with investors anticipating another rate cut at the central bank's mid-December meeting.

In the tech sector, Salesforce soared 11% after outperforming analyst expectations, and Marvell Technology climbed over 23%. As U.S. employment data remains on the horizon, investors are keenly watching for any developments that could impact the market's upward trajectory.

(With inputs from agencies.)