By WSJ Staff
The artificial-intelligence trade is lifting global markets as investors await the Federal Reserve's interest-rate decision.
Global chip stocks and the Nasdaq composite rose after ASML, a specialist in cutting-edge semiconductor machinery, reported record orders. The S&P 500 and Dow industrials edged higher.
ASML's chief executive hailed growing confidence in the "sustainability of AI-related demand" from chip-making customers. China has started approving purchases of Nvidia's H200 AI chip, also boosting sentiment.
In addition, hard-drive maker Seagate posted stronger-than-forecast results, fueling a rally in memory-chip stocks.
This afternoon, the Fed is widely expected to keep rates on hold after three consecutive cuts. Investors will look for hints about when the central bank could cut again, and for comments by Chair Jerome Powell about the Justice Department probe he faces.
The dollar regained some ground. It slid Tuesday, with losses accelerating after President Trump said he wasn't concerned about currency declines.
Gold prices, which tend to benefit from a weaker dollar, leapt to new peaks. Most-active gold futures notched a new intraday record above $5,300 a troy ounce. Silver prices also rallied.
A busy week for earnings continues. Turbine maker GE Vernova raised its annual outlook. Starbucks shares jumped after the coffee chain said its turnaround efforts were bringing in more customers.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
January 28, 2026 09:36 ET (14:36 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
Comments