The Dow Jones Industrial Average gained 0.79 percent to hit a new all-time high as the three major U.S. stock indexes all rose on Wednesday.
Strong performance of banking and airline stocks propelled the across-the-board rise. Morgan Stanley reported third-quarter earnings that exceeded analyst estimates, with its shares rising to a record high, gaining more than 6 percent. United Airlines also reported better-than-expected third-quarter earnings, with its stock surging more than 12 percent for the day. Nuclear stocks in the U.S. also soared as Amazon on Wednesday announced major investments in small modular reactors in the states of Virginia and Washington. Following Microsoft and Google, Amazon is the latest tech giant to invest in nuclear powers this year.
In Europe, data released by the UK's Office for National Statistics on Wednesday showed that the UK's inflation rate in September dropped significantly to 1.7 percent, the first time hitting below the central bank's 2 percent target since April 2021. The news bolstered confidence in the UK market, and the FTSE 100 index rose for the day.
Meanwhile crude oil futures continued their downward trend from the previous session, with a 0.27 percent drop. Brent crude futures fell by 0.04 percent.
Influenced by the decline in U.S. Treasury yields and a rise in risk aversion due to the tensions in the Middle East, international gold prices rose by 0.46 percent on Wednesday, closing at 2,691.30 dollars per ounce.