Tech Stocks Drive Wall Street to New Highs

Wall Street's indexes soared on Wednesday, achieving record highs due to gains in technology stocks. Salesforce boosted the Dow significantly after exceeding third-quarter revenue estimates. The focus remains on Federal Reserve Chair Powell's comments, with private payrolls showing moderate growth and non-manufacturing PMI slightly below expectations.

Wall Street's major indexes surged on Wednesday, setting new records as technology stocks powered the ascent. The S&P 500 and the Nasdaq reached unprecedented levels, primarily fueled by Salesforce's impressive performance after beating third-quarter revenue predictions.

Despite a moderate rise in U.S. private payrolls in November, as noted by the ADP National Employment Report, attention is fixed on Federal Reserve Chair Jerome Powell's forthcoming commentary. The ISM non-manufacturing PMI also recorded a slight dip, underscoring uncertainties in economic forecasts.

The tech sector's robustness continues to lead market momentum, supported by Marvell Technology and other megacap companies. As anticipation builds for the Federal Reserve's Beige Book release, Wall Street observes Fed officials hinting at potential interest-rate adjustments.

(With inputs from agencies.)