US Stock Indexes Reach Record Closing Highs

All three major U.S. stock indexes reached record closing highs, driven by a surge in technology shares, particularly following strong earnings from Salesforce, which jumped 11%, and Marvell Technology, which soared 23.2%. Federal Reserve Chair Jerome Powell's optimistic comments about the economy suggested a more cautious approach to future interest rate cuts, contributing to a positive market sentiment. The Fed's Beige Book indicated slight economic expansion across regions, reinforcing Powell's upbeat assessment. Investors anticipate a third consecutive interest-rate cut at the upcoming Fed meeting in mid-December. The S&P 500 technology index, along with communication services and consumer discretionary indexes, also hit all-time highs. Market participants are now focused on forthcoming jobs data, which could impact monetary policy expectations.