US market today: Wall Street edges higher as record-setting week nears end; AI optimism drives tech gains amid shutdown

US stocks continued to climb on Friday, as Wall Street edged toward the finish of another record-setting week, buoyed by optimism around artificial intelligence and hopes of easier interest rates despite a partial government shutdown.The S&P 500 rose 0.2% and is on track for its seventh winning week in nine, while the Dow Jones Industrial Average gained 167 points, or 0.4%, and the Nasdaq composite added 0.2%, AP reported. All three indexes came off all-time highs set the previous day.Trading may see increased volatility later in the session as reports on the US services sector are released. Treasury yields in the bond market were largely steady ahead of the data.Normally, the first Friday of the month draws attention to the US government’s monthly jobs report, which details hiring and unemployment trends. But the third day of the partial shutdown has delayed the release, leaving investors and policymakers without fresh employment data.Past shutdowns have typically had limited impact on markets and the economy, though President Donald Trump has threatened large-scale firings of federal workers this time.Investors remain focused on AI-related developments, which have propelled the market in recent weeks. The sector received a boost after Japan’s Hitachi signed a memorandum of understanding with OpenAI, following similar agreements with South Korean firms. Hitachi’s stock surged 10.3% in Tokyo, while US tech giants Nvidia and Broadcom rose 0.6% and 1.5%, respectively.However, caution persists over the sector’s rapid growth, with some analysts warning of a potential bubble that could disappoint investors. Applied Materials was among the day’s losers, dropping 2.5% after warning of a roughly $110 million revenue impact in Q4 due to expanded US export restrictions on certain Chinese customers.Global markets were mixed, with Japan’s Nikkei 225 up 1.9%, while European indexes showed varied performance. In the US bond market, the 10-year Treasury yield inched down to 4.09% from 4.10% late Thursday.