US Equity Markets Higher Amid Gains in Tech Stocks Ahead of Earnings Season

04:21 PM EDT, 10/08/2025 (MT Newswires) -- US equity indexes were higher on Wednesday amid gains in technology stocks ahead of earnings season and the release of minutes from the Federal Reserve's September meeting.

* Federal Reserve officials broadly agreed in September that interest rates should be lowered, with meeting minutes released Wednesday showing near-unanimous support for a cut due to labor market weakness. However, policymakers were divided on whether the year should include two or three total reductions, including the quarter-point cut approved at the September meeting.

* Mortgage applications fell 4.7% for the week ended Oct. 3 as 30-year fixed mortgage rates edged lower, data from the Mortgage Bankers Association showed Wednesday. The decline followed a 12.7% drop in total activity the previous week. Refinancing applications tumbled 8%.

* November West Texas Intermediate crude oil rose $0.69 to settle at $62.42 per barrel, while December Brent crude, the global benchmark, was last seen up $0.71 to $66.16.

* Advanced Micro Devices' (AMD) deal with OpenAI marks a significant endorsement of the company's chip development plans and could help bring in additional customers, UBS said in a note. Loop Capital raised its price target on AMD to $240 from $195 and maintained a buy rating. AMD shares rose over 11%.

* Joby Aviation (JOBY) shares fell about 8.2% in Wednesday trading after the company announced it priced a public offering of 30.5 million shares at $16.85 each, aiming to raise approximately $513.9 million in gross proceeds.

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