Wall Street saw broad-based gains, with the S&P 500 and Nasdaq Composite reaching record highs driven by strong earnings from major technology companies and growing optimism around artificial intelligence investments.

The Federal Reserve kept its benchmark interest rate unchanged at 5.25%-5.50% at its latest meeting, while the updated dot plot suggests two rate cuts are still expected in 2024 as inflation continues to cool gradually.

The U.S. economy added 272,000 jobs in May, far surpassing the 185,000 forecast by economists. The unemployment rate held steady at 4.0%, signaling continued resilience in the labor market despite higher interest rates.